5/1/19 – 6:36 A.M.

Cooper Tire & Rubber cited higher expenses for pensions and post-retirement benefits for a decline in profits during the first quarter of the year. Cooper reported $7 million in profits for the first three months of 2019. That’s down 16 percent compared to the same time frame in 2018.

Sales increased by nearly 3 percent to $619 million. Operating profit was relatively flat compared to the first quarter of 2018, but exceeded company expectations. In a statement, Cooper CEO Brad Hughes said: “Operating profit in the first quarter was higher than we expected due to stronger than anticipated performance in North America and Asia.”