Goodyear is on track to top two billion dollars in operating income for 2015. The company releasing it's third quarter financials this morning shattering records with operating income up 15%, net income up 68% from the same period last year.

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(Goodyear Tire & Rubber Company) AKRON, Ohio, October 29, 2015 – The Goodyear Tire & Rubber Company today reported record results for the third quarter of 2015. 

"We delivered outstanding earnings growth in the quarter and segment operating margin of more than 14 percent, overcoming macroeconomic challenges in some of our key international markets," said Richard J. Kramer, chairman and chief executive officer. "Our strong momentum in North America continues. The business grew its segment operating margin to more than 16 percent and achieved a 54 percent year­ over year increase in earnings driven by strong demand for our high­value­added products," he said.

Kramer added, "Our third quarter results demonstrate continued sustainable earnings growth and our sharp focus on disciplined execution of our strategy in both strong and challenging markets. With our strong year­to­date performance, we now see full­year segment operating income tracking to $2 billion, which would be more than double what we achieved just five years ago." 

Goodyear's third quarter 2015 sales were $4.2 billion, down from $4.7 billion a year ago, with the decrease largely attributable to unfavorable foreign currency translation of $430 million. Tire unit volumes totaled 42.5 million for the third quarter of 2015, up 1 percent from last year.

Original equipment unit volume was up 4 percent. Replacement tire shipments were flat. The company reported third quarter segment operating income of $599 million in 2015, up 15 percent from a year ago and a record for any quarter. The increase was driven by favorable price/mix net of raw materials, partially offset by unfavorable foreign currency translation.