The Goodyear Tire & Rubber Co., the nation's largest tire maker, said Friday it may beat Wall Street's profit expectations for the third quarter and will amend or restate some past financial filings for 2003 and 2004. Its shares climbed more than 15 percent.
Goodyear expects to report its third-quarter results by Tuesday. The company said it expects the earnings will be in the range of 19-to-21 cents per share. Analysts surveyed by Thomson First Call expect 19 cents per share. Goodyear had a restated loss of 68 cents per share in the third quarter of 2003.
Sales are expected to be $4.7 billion, up from $3.9 billion in the third quarter of 2003. Goodyear has counted on its new, all-weather Assurance tire to spark sales.
Goodyear owns Goodyear Dunlop Tires North America, which is based in Amherst and operates a plant in the Town of Tonawanda.