Cooper Tire Says Profit Will Beat Forecasts

Cooper Tire & Rubber Co. said first-quarter profit will rise more than expected as the second-largest U.S. tire maker gained market share from bigger rival Goodyear Tire & Rubber Co. and automotive production increased.

Earnings will be 35 cents to 37 cents a share, the Findlay, Ohio-based company said. Cooper Tire had raised its forecast to about 30 cents in March. Net income was expected to be $3.6 million, or 5 cents, on sales of $758 million in the year-earlier period. First-quarter results will be released April 18.

Cooper Tire’s shares climbed $2.13 to $23.15 on the NYSE.