Cooper Tire Reports Second Quarter Results

Cooper Tire & Rubber Company posted some rough second quarter numbers thanks to the coronavirus pandemic.

The company reported on Monday that it had a second quarter net loss of $6 million.

In the same quarter last year the company posted a net income of $9 million.

Net sales in the second quarter decreased to $496 million, a drop of 26.9 percent.

“As anticipated, the global pandemic significantly impacted our results in the second quarter. However, our performance materially exceeded our expectations,” said President & Chief Executive Officer Brad Hughes.

“I want to thank our employees around the globe for stepping up during this challenging and unprecedented time,” he added.