Goodyear Swings to First-Quarter Profit

Goodyear Tire & Rubber Co. reported a first-quarter profit, compared with a loss from a year ago, but its North American revenue declined from a year earlier.

Net income for the largest North American tire maker was $26 million, or 10 cents per share, compared with a loss of $11 million, or 5 cents per share, a year ago. North American sales fell 13% to $2.2 billion.

The company did not break down commercial tire results.

Tire unit volume declined 8% to 39.5 million, on lower volumes in Europe, Goodyear said.

Goodyear said it expects full-year income of $1.4 billion to $1.5 billion, a 12% rise from the prior year.