Goodyear Tire & Rubber Stock News

New Assurance WeatherReady® 2 is the pinnacle tire for all-weather driving and outperforms leading competitors in wet handling, wet braking and dry handling AKRON, Ohio , Aug. 20, 2024 /PRNewswire/ -- Today, Goodyear (NASDAQ: GT) introduced the Assurance WeatherReady 2, a tire that delivers unparalleled all-weather performance backed by industry-leading test results in wet handling, wet braking...

Tire manufacturer Good Year Tire & Rubber Co. NASDAQ: GT has not had a very good year. Shares recently hit 52-week lows at $7.63, trading down 40.2% year-to-date (YTD).

The Canadian unit of Goodyear Tire & Rubber Co will invest over C$575 million ($418.4 million) to upgrade its plant in Napanee, Ontario, Prime Minister Justin Trudeau said on Monday.

The Goodyear Tire & Rubber Company shares plummeted 15.1% on August 1st due to weak revenue in the second quarter of 2024. Despite the revenue decline, earnings and adjusted earnings per share were higher than expected, with significant cost-cutting initiatives underway. The company's Goodyear Forward plan aims to sell $2 billion in assets and cut costs by $1.3 billion annually, and the firm is...

Goodyear Tire & Rubber is undergoing a turnaround, with shares down 20% since March 2024. Q2 2024 results showed revenue declines, margin improvement, and the sale of the company's Off-the-Road tire business to Yokohama Rubber Company. Despite progress on the company's Goodyear Forward plan, high debt levels and industry challenges prompt a downgrade to a 'hold' rating.

Goodyear's revenue fell 6% to $4.57 billion on a drop in tire sales. Cost cuts have taken hold, though, resulting in a profit versus a loss a year ago.

The Goodyear Tire & Rubber Company (NASDAQ:GT ) Q2 2024 Earnings Conference Call August 1, 2024 8:00 AM ET Company Participants Greg Shank - Senior Director, Investor Relations Mark Stewart - President & Chief Executive Officer Christina Zamarro - Executive Vice President & Chief Financial Officer Conference Call Participants Operator Good morning. My name is Ashley, and I'll be your conference...

Second quarter Goodyear net income of $85 million (30 cents per share); adjusted net income of $54 million (19 cents per share) Segment operating income of $339 million, up $215 million compared to the second quarter of 2023 Americas segment operating income of $241 million, SOI margin of 8.9% Asia Pacific segment operating income of $63 million, SOI margin of 10.6% Goodyear Forward transformat...