Some of the air was taken out of Goodyear Tire & Rubber on Tuesday after the company reported revenue dropped 5 percent in the third-quarter. Shares fell 6 percent to close at $20.76.
The company posted revenue of $5 billion, down from $5.26 billion a year ago. Analysts polled by FactSet expected revenue of $5.27 billion.
The total was hurt by a drop in chemical sales in North America and changes in the value of Asian currencies.
Goodyear sold more tires in North America and was aided by a shift in Latin America to higher-priced replacement
tires. Tire sales rose about 1 percent in North America; 3 percent in Europe, Middle East, and Africa; and 8 percent in Asia-Pacific.
Sales in Latin America and North America were instrumental is boosting the company’s third-quarter profit to $166 million, or 62 cents per share, for the July-September period.