Citi Reports Large Q1 Beat For Goodyear

According to Citi, Goodyear Tire & Rubber GT reported Q1'11 EPS of $0.52 (ex. items), far above its $0.15 and consensus of $0.11. Citi said that revenue of $5.4 billion was ahead of its $4.7 billion and consensus of $4.8 billion. “Segment operating income (SOI) came in at $327 million, ahead of our $228 million, with a 6.1% margin vs. our 4.8% and last quarter's 4.4%. This was the first above-6% SOI margin since Q3'09 and Q2'08.” Goodyear Tire & Rubber closed yesterday at $16.20.