The Goodyear Tire & Rubber Company GT is one of the world’s largest tire manufacturing companies, selling under Goodyear, Kelly, Dunlop, Fulda, Debica, Sava and various other brands.The company regularly launches innovative products and services to boost sales. Although Goodyear generates worldwide sales, North America is its leading market. It is also expanding in emerging markets to boost profits. Goodyear is benefitting from lower raw material costs, strong economic trends in North America and continued cost savings, partially offset by a challenging international environment and unfavorable foreign currency translation due to the continuing strength of the U.S. dollar. Goodyear’s revenue has been declining over the years. The company has also been facing challenges in terms of a volatile political and economic environment and high currency fluctuations in Latin America. Estimate Trend & Surprise History Investors should note that the first-quarter earnings estimates for Goodyear have remained stable over the last 30 days. Meanwhile, the company delivered positive earnings surprises in each of the last four quarter with an average beat of 15.05%. Investors have been eagerly awaiting Goodyear’s latest earnings report to see whether it delivers an earnings beat in the first quarter as well. Zacks Rank Goodyear currently has a Zacks Rank #2 (Buy), but that could change following its earnings report which was just released. We have highlighted some of the key stats from the company’s earnings announcement below: Earnings Surpass Estimates, Rise Y/Y Goodyear reported adjusted earnings of 72 cents per share in the first quarter of 2016, surpassing the Zacks Consensus Estimate of 70 cents. Adjusted earnings were higher than 54 cents generated in the year-ago quarter. Revenues Miss Estimates, Fall Y/Y Goodyear logged revenues of $3.69 billion, missing the Zacks Consensus Estimate of $3.97 billion. Moreover, revenues were lower than $4.02 billion posted a year ago, mainly due to unfavorable foreign currency translation and deconsolidation of the subsidiary in Venezuela. Key Stats/Developments to Note Goodyear expects annual segment operating income to increase 10–15% in 2016. The company also aims to generate positive free cash flow (excluding pension pre-funding) over this period. During the reported quarter, Goodyear repurchased 1.6 million shares for $50 million. Market Reaction Goodyear’s share price has declined 2.38% so far in pre-market trading following the release. Clearly, the initial reaction to the release is negative. Check back later for our full write up on Goodyear’s earnings report! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GOODYEAR TIRE (GT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research