Cooper Tire Takes 2Q Loss on Costs, Strike Impacts
ooper Tire & Rubber Co. reported a second-quarter loss of $6.9 million or 11 cents a share, compared with a profit of $34 million or 45 cents a year earlier.
The company cited lasting effects of a strike that ended in April at its Arkansas plant and rising raw materials costs as factors in the loss.
Cooper said increased raw materials costs would be a challenge this year forecast third-quarter earnings of 10 cents to 14 cents a share, including a charge of 8 cents due to the strike’s impact.
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