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Cooper Tire & Rubber Q3 profit climbs YOY

Cooper Tire & Rubber Co. said its normalized net income for the third quarter amounted to $1.16 per share, compared with the S&P Capital IQ consensus estimate of $1.01 per share.

EPS rose 9.2% year over year from $1.06.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $63.6 million, a gain from $60.9 million in the prior-year period.

The normalized profit margin increased to 8.5% from 7.8% in the year-earlier period.

Total revenue declined year over year to $750.9 million from $782.4 million, and total operating expenses fell 5.4% on an annual basis to $643.3 million from $680.1 million.

Reported net income fell 7.5% year over year to $49.2 million, or 90 cents per share, from $53.2 million, or 93 cents per share.