Cooper Tire & Rubber — Q3 2020 Earnings Presentation
14 slides from Cooper Tire & Rubber's earnings presentation, Oct 29, 2020
Slide 1: Company Update Third Quarter 2020
Company Update Third Quarter 2020 October 29, 2020
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains what the company believes are forward-looking statements related to future financial results and business operations for Cooper Tire & Rubber Company. Actual results may differ materially from current management forecasts and projections as a result o
Slide 3: Available Information
Available Information You can find Cooper Tire on the web at coopertire.com. Our company webcasts earnings calls and presentations from certain events that we participate in or host on the investor relations portion of our website (http://coopertire.com/investors.aspx). In addition, we also make ava
Slide 4: Three Months Ended September 30, 2020 Financial Performance Highlights
Three Months Ended September 30, 2020 Financial Performance Highlights (millions USD, except EPS) Change from Prior Net Sales by Segment Q3 2020 Q3 2019 Year Americas Tire $ 660 $ 602 9.6% International Tire 142 132 7.5% Eliminations (37) (30) 22.4% Total Company $ 765 $ 704 8.6% Operating Profit (L
Slide 5: Nine Months Ended September 30, 2020 Financial Performance Highlights
Nine Months Ended September 30, 2020 Financial Performance Highlights (millions USD, except EPS) Nine Months Ended Nine Months Ended Change from Net Sales by Segment September 30, 2020 September 30, 2019 Prior Year Americas Tire $ 1,542 $ 1,699 (9.2%) International Tire 345 415 (16.7%) Eliminations
Slide 6: Operating Results Walk Total Company Q3 2019 to Q3 2020
Operating Results Walk Total Company Q3 2019 to Q3 2020 ($ millions) $83 $119 $200 Net Price/Mix vs. 2 1 40 Raw Materials 172 (5) (2) $150 35 48 $100 53 $50 $0 SG&A Other Volume Price/Mix Raw Materials Manufacturing Product Liability 2019 Operating Profit 2020 Operating Profit Amounts are unaudited
Slide 7: Operating Results Walk Americas Tire Operations
Operating Results Walk Americas Tire Operations Q3 2019 to Q3 2020 ($ millions) $108 $73 $200 Net Price/Mix vs. Raw Materials 40 176 (3) (1) (1) $150 34 39 $100 68 $50 $0 SG&A Other Price/Mix Raw Materials Manufacturing Product Liability 2019 Operating Profit 2020 Operating Profit Amounts are unaudi
Slide 8: Operating Results Walk International Tire Operations
Operating Results Walk International Tire Operations ($ millions) Q3 2019 to Q3 2020 $14 $15 $10 Net Price/Mix vs. Raw Materials 1 $10 1 9 3 (1) 1 $5 9 $0 (5) $-5 SG&A Other Volume Price/Mix Raw Materials Manufacturing 2019 Operating Loss 2020 Operating Profit Amounts are unaudited and may not add d
Slide 9: CTB Raw Material Price Index North America
300 250 CTB Raw Material Price Index 200 150 100 50 9 0 1Q02 North America Q4 2020 is 1Qan estimate03 1Q04 1Q05 1Q06 1Q07 1Q08 1Q09 1Q10 1Q11 1Q12 Q3 2020 Average = 135.8 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20
Slide 10: Non-GAAP Measures
Non-GAAP Measures Non-GAAP financial measures should be considered in addition to, not as a substitute for, other financial measures prepared in accordance with generally accepted accounting principles (“GAAP”). The company’s methods of determining these non-GAAP financial measures may differ from t
Slide 11: Non-GAAP Measures Return on Invested Capital (ROIC)
Non-GAAP Measures Return on Invested Capital (ROIC) The company is using non-GAAP financial measures in this document because it considers them to be important supplemental measures of the company’s performance. The company believes ROIC provides additional insight for analysts and investors in eval
Slide 12: Non-GAAP Measures Trailing Four Quarter Effective Tax Rate
Non-GAAP Measures Trailing Four Quarter Effective Tax Rate (millions USD) Adjusted (Non-GAAP) provision for income taxes $ 49 Income before income taxes 189 Adjusted (Non-GAAP) effective income tax rate 25.8 % Calculation of Total Invested Capital (five quarter average) (millions USD) Long-term Curr
Slide 13: Non-GAAP Measures Trailing Four Quarter Income and Expense Inputs
Non-GAAP Measures Calculation of Trailing Four Quarter Income and Expense Inputs (millions USD) Income tax Operating (benefit) Adjusted (benefit) (Loss) income profit (loss) as provision as Income tax provision for before income Quarter-ended: reported reported overlay* income taxes taxes as reporte
Slide 14: Risks
Risks It is possible that actual results may differ materially from projections or expectations due to a variety of factors, including, but not limited to: • the impact of the ongoing coronavirus (COVID-19) pandemic, or similar public health crises, on the company's financial condition, operations,