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Cooper Tire reports strong Q1 financial results as Goodyear deal nears


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FINDLAY, Ohio Cooper Tire & Rubber Co. reported strong financial results in quarter one of 2021 a net income of $22 million, compared to a net loss of $12 million after the same quarter a year ago as the tire maker inches closer to finalizing its deal with Goodyear.
Cooper said its operating profit was $38 million, or 5.8 percent of net sales, which increased 23 percent over the pandemic-ravaged Q1 of 2020.
The financial news comes three days after Cooper shareholders voted overwhelmingly to approve Goodyear s $2.5 billion cash and stock deal to acquire the Findlay-based tire maker. According to Cooper, around 99 percent of its stockholder votes cast April 30 were in favor of the transaction. ....

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