The Wall Street Journal-20080215-Earning-s Digest -- Automotive- Goodyear Tire - Rubber Co-

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Earning's Digest -- Automotive: Goodyear Tire & Rubber Co.

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Goodyear Tire & Rubber Co. swung to a fourth-quarter profit from a year earlier, when costs rose owing to a union strike that idled most of its U.S. plants. The Akron, Ohio, tire maker is benefiting from its move to introduce more higher-end tire products to better appeal to consumers who are driving luxury cars and sport-utility vehicles. Goodyear reported a 10% rise in revenue per tire although it sold 50 million tires, 1.1 million fewer than a year earlier. "We see the company's performance in the quarter as evidence that its strategy is gaining traction," Calyon Securities analyst Mark Warnsman said. Goodyear Chief Executive Robert Keegan said demand for high-end tires is outstripping supply and he plans to accelerate plant investments to increase production. Goodyear shares rose $1.87, or 7.4%, to $27.19 in 4 p.m. composite trading on the New York Stock Exchange.