Cooper Tire & Rubber Co. estimates its earnings per share, including restructuring costs, will be in the range of 30 to 34 cents— an increase over its previous forecast of 24- to 28-cents per share, excluding restructuring expenses.
The upswing in earnings is a result of higher sales, strong operating performance from Cooper-Standard Automotive, and a lower-than-anticipated impact from steel prices and raw materials. Dow Jones Newswires reports that its contract work on Ford Motor Co.’s F-Series trucks played a large hand in earnings estimates.
Cooper Tire is expected to release its 1Q earnings report on April 22.
