Goodyear Tire & Rubber Co. said its fourth-quarter normalized net income amounted to 44 cents per share, compared with the S&P Capital IQ consensus estimate of 75 cents per share.

EPS climbed 12.6% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $118.6 million, an increase of 9.3% from $108.5 million in the year-earlier period.

The normalized profit margin increased to 2.8% from 2.5% in the year-earlier period.

Total revenue decreased 6.7% on an annual basis to $4.06 billion from $4.36 billion, and total operating expenses declined 6.9% from the prior-year period to $3.79 billion from $4.08 billion.

Reported net income totaled a loss of $382.0 million, or a loss of $1.42 per share, compared to income of $2.13 billion, or $7.69 per share, in the prior-year period.

For the year, the company's normalized net income totaled $2.54 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.11.

EPS rose 22.7% from $2.07 in the prior year.

Normalized net income was $692.3 million, an increase of 20.1% from $576.6 million in the prior year.

Full-year total revenue decreased 9.3% from the prior-year period to $16.44 billion from $18.14 billion, and total operating expenses decreased 11.1% on an annual basis to $14.77 billion from $16.62 billion.

The company said reported net income decreased 87.5% year over year to $305.8 million, or $1.12 per share, in the full year, from $2.45 billion, or $8.79 per share.