US Market News
1月前
Goodyear Announces Pricing of $1.05 Billion of Senior NotesJune 1, 2026 6:00 PM
PR Newswire (US) AKRON, Ohio, June 1, 2026 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "company") today announced that it has priced its offering of $1.05 billion aggregate principal amount of senior notes due 2032 (the "notes"). The notes will be senior unsecured obligations of the company. The notes will be offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 8.875% per annum. Goodyear expects the offering to close on June 4, 2026, subject to customary closing conditions.Goodyear intends to use the net proceeds from this offering to repay, redeem or repurchase its outstanding 4.875% Senior Notes due 2027 (the "4.875% Notes") and its outstanding 7.625% Senior Notes due 2027 (the "7.625% Notes," and, together with the 4.875% Notes, the "2027 Notes") at or prior to their respective maturity on March 15, 2027. Any remaining net proceeds will be used for general corporate purposes. As of March 31, 2026, there was $700 million in aggregate principal amount of the 4.875% Notes outstanding and $117 million in aggregate principal amount of 7.625% Notes outstanding. Pending the repayment, redemption or repurchase of the 2027 Notes, Goodyear intends to temporarily apply a portion of the net proceeds from this offering to repay outstanding balances under its first lien revolving credit facility, its European revolving credit facility, its Mexican credit facility and certain other smaller facilities.J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Fifth Third Securities, Inc., MUFG Securities Americas Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc. and PNC Capital Markets LLC are acting as the joint book-running managers, and Capital One Securities, Inc., CIBC Capital Markets, Santander US Capital Markets LLC, Citizens JMP Securities, LLC, HSBC Securities (USA) Inc., Huntington Securities, Inc., KeyBanc Capital Markets Inc., U.S. Bancorp Investments, Inc., Regions Securities LLC and Standard Chartered Bank are acting as the co-managers for the offering.The offering will be made under an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission on May 29, 2025. The offering of the notes may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from:J.P. Morgan Securities LLCThe Goodyear Tire & Rubber Company
Attn: J.P. Morgan Syndicate Desk Investor Relations Department270 Park Avenue 200 Innovation WayNew York, New York 10017 Akron, OH 44316Telephone: 1-212-834-4533 Telephone: 330-796-3751This news release shall not constitute a notice of redemption with respect to the 4.875% Notes. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.About The Goodyear Tire & Rubber Company
Goodyear is one of the world's largest tire companies. It employs about 63,000 people and manufactures its products in 49 facilities in 19 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.Certain information contained in this news release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully our strategic initiatives; our ongoing obligations to the purchasers of our off-the-road tire business, the Dunlop brand and our polymer chemicals business; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; changes in tariffs, trade agreements or trade restrictions; uncertainty regarding the timing and amount of any IEEPA tariff refund; delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; economic and supply disruptions associated with events beyond our control, such as war, including the current conflicts between Russia and Ukraine and in the Middle East; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.MEDIA CONTACT:
KELLY MCGLUMPHY
KELLY_MCGLUMPHY@GOODYEAR.COM INVESTOR RELATIONS CONTACT:
RYAN REED
RYAN_REED@GOODYEAR.COM
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US Market News
1月前
Goodyear Announces Offering of Senior NotesJune 1, 2026 7:45 AM
PR Newswire (US) AKRON, Ohio, June 1, 2026 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "company") today announced that it has commenced a public offering of $750 million aggregate principal amount of 6-year senior notes (the "notes"). The notes will be senior unsecured obligations of the company. Issuance and sale of the notes is subject to market and other customary closing conditions. Goodyear intends to use the net proceeds from this offering to repay, redeem or repurchase its outstanding 4.875% Senior Notes due 2027 (the "4.875% Notes") at or prior to their maturity on March 15, 2027. Any remaining net proceeds will be used for general corporate purposes. As of March 31, 2026, there was $700 million in aggregate principal amount of the 4.875% Notes outstanding. Pending the repayment, redemption or repurchase of the 4.875% Notes, Goodyear intends to temporarily apply a portion of the net proceeds from this offering to repay outstanding balances under certain credit facilities.J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Fifth Third Securities, Inc., MUFG Securities Americas Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc. and PNC Capital Markets LLC are acting as the joint book-running managers, and Capital One Securities, Inc., CIBC Capital Markets, Santander US Capital Markets LLC, Citizens JMP Securities, LLC, HSBC Securities (USA) Inc., Huntington Securities, Inc., KeyBanc Capital Markets Inc., U.S. Bancorp Investments, Inc., Regions Securities LLC and Standard Chartered Bank are acting as the co-managers for the offering.The offering will be made under an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission on May 29, 2025. The offering of the notes may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from:J.P. Morgan Securities LLCThe Goodyear Tire & Rubber Company
Attn: J.P. Morgan Syndicate DeskInvestor Relations Department270 Park Avenue200 Innovation WayNew York, New York 10017Akron, OH 44316Telephone:1-212-834-4533 Telephone: 330-796-3751This news release shall not constitute a notice of redemption with respect to the 4.875% Notes. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.About The Goodyear Tire & Rubber Company
Goodyear is one of the world's largest tire companies. It employs about 63,000 people and manufactures its products in 49 facilities in 19 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.Certain information contained in this news release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully our strategic initiatives; our ongoing obligations to the purchasers of our off-the-road tire business, the Dunlop brand and our polymer chemicals business; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; changes in tariffs, trade agreements or trade restrictions; uncertainty regarding the timing and amount of any IEEPA tariff refund; delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; economic and supply disruptions associated with events beyond our control, such as war, including the current conflicts between Russia and Ukraine and in the Middle East; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.MEDIA CONTACT:
KELLY MCGLUMPHY
KELLY_MCGLUMPHY@GOODYEAR.COMINVESTOR RELATIONS CONTACT:
RYAN REED RYAN_REED@GOODYEAR.COM
View original content to download multimedia:https://www.prnewswire.com/news-releases/goodyear-announces-offering-of-senior-notes-302787034.htmlSOURCE The Goodyear Tire & Rubber Company Original: Goodyear Announces Offering of Senior Notes
US Market News
2月前
Goodyear Announces First Quarter 2026 ResultsMay 6, 2026 4:15 PM
PR Newswire (US) EMEA and Asia Pacific results strengthened; Goodyear Forward delivered $107 million of benefitsAKRON, Ohio, May 6, 2026 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ:GT) reported first quarter 2026 results today and the company will host an investor call tomorrow morning, Thursday, May 7, at 8:30 a.m. Eastern time led by Mark Stewart, Goodyear's chief executive officer and president, and Christina Zamarro, the company's executive vice president and chief financial officer. "The first quarter reflected a challenging environment, marked by weak consumer industry demand in both OE and replacement across the majority of our key geographies," said Stewart. "Despite a weak environment, our first quarter results were in line with our expectations and reflect our commitment to drive value for our brands in the marketplace, where we offer world-class differentiated products and services.""Looking ahead, increased pressure on industry demand and higher raw material costs stemming from the conflict in the Middle East require that we continue to take meaningful actions to strengthen our cost structure," added Stewart. "We have consistently demonstrated a strong capability in driving cost transformation. We expect to deliver further savings to position the company for long term value creation."Financial ResultsGoodyear's first quarter 2026 net sales were $3.9 billion, with tire unit volumes totaling 34.0 million. First quarter 2026 Goodyear net loss was $249 million, or $0.86 per share, compared to Goodyear net income one year ago of $115 million, or $0.40 per share. First quarter 2026 included several significant items, including, on a pre-tax basis, rationalization charges of $104 million. This significant item, and others, are excluded from adjusted earnings.First quarter 2026 adjusted net loss was $112 million compared to adjusted net loss of $11 million in the prior year's quarter. Adjusted loss per share was $0.39 compared to $0.04 in the prior year's quarter. Per share amounts are diluted.Segment ResultsThe company reported segment operating income of $95 million in the first quarter of 2026, compared to $195 million from one year ago. Segment operating income includes a $46 million benefit from a tariff adjustment following a recent U.S. Supreme Court decision.After adjusting for the sales of its Chemical business and the Dunlop brand, segment operating income decreased $63 million. The decrease in segment operating income reflects higher inflation and other costs of $163 million and the impact of lower volume of $159 million, partially offset by benefits from Goodyear Forward of $107 million, favorable price/mix versus raw material costs of $103 million and an IEEPA tariff adjustment of $46 million.Additional earnings materials can be found on Goodyear's investor relations website at http://investor.goodyear.com. Reconciliation of Non-GAAP Financial MeasuresSee "Non-GAAP Financial Measures" and "Financial Tables" for further explanation and reconciliation tables for historical Total Segment Operating Income and Margin; Adjusted Net Income (Loss); and Adjusted Diluted Earnings per Share, reflecting the impact of certain significant items on the 2026 and 2025 periods.Business Segment Results AMERICAS
First Quarter(In millions)20262025
Tire Units15.318.4Net Sales$2,063$2,502Segment Operating Income $37$155Segment Operating Margin1.8 %6.2 %Americas' first quarter 2026 net sales of $2.1 billion were 17.5% lower than the previous year, driven by a decline in consumer replacement volume and the sale of the Chemical business. Tire unit volume decreased 17.0%. Replacement tire unit volume decreased 23.2%, driven by weak industry conditions in North America. Replacement volumes reflect lower sell-in industry volume, increased competitive promotional activity and the planned rationalization of lower-tier product offerings. Original equipment tire unit volume increased 8.2%, reflecting strong consumer market share gains. Similar to prior quarters, Commercial industry volume was lower in both OE and replacement given a prolonged industry downturn.Segment operating income of $37 million decreased $118 million from last year. Excluding the impact of the sale of the Chemical business, Americas' segment operating income decreased $87 million driven by the impact of lower volume, general inflation and higher other costs, partially offset by Goodyear Forward benefits, the expected IEEPA tariff refund, and price/mix versus raw materials.EMEA
First Quarter(In millions)20262025
Tire Units11.212.3Net Sales$1,363$1,277Segment Operating Income (Loss)$1$(5)Segment Operating Margin0.1 %(0.4) %EMEA's first quarter 2026 net sales of $1.4 billion increased 6.7% from first quarter 2025, driven by benefits from currency and price/mix, partly offset by lower tire volume, inclusive of the sale of the Dunlop brand. Replacement unit volume decreased 15.2%, driven by market weakness in the E.U., increased competition and the planned rationalization of lower-tier product offerings. Original equipment tire unit volume increased 8.1%, reflecting strong consumer market share gains.First quarter segment operating income of $1 million increased $6 million from the prior year. Excluding the impact of the sale of the Dunlop brand, EMEA's segment operating income increased $13 million driven by benefits from price/mix versus raw materials and Goodyear Forward, partly offset by higher costs and inflation.ASIA PACIFIC
First Quarter(In millions)20262025
Tire Units7.57.8Net Sales$455$474Segment Operating Income $57$45Segment Operating Margin12.5 %9.5 %Asia Pacific's first quarter 2026 net sales of $455 million were 4.0% lower than the previous year, as a result of lower volume. Tire unit volume decreased 3.8%, driven by weak OE industry demand in China.First quarter 2026 segment operating income of $57 million was $12 million higher than the prior year driven by benefits from price/mix versus raw materials and Goodyear Forward, partly offset by the impact of lower volume.Conference CallThe company will host an investor call on Thursday, May 7, 2026, at 8:30 a.m. Eastern time. Please visit Goodyear's investor relations website: http://investor.goodyear.com, for additional earnings materials.The investor call can be accessed on the website or via telephone by calling either (800) 579-2543 or (785) 424-1789 before 8:25 a.m. Eastern time and providing the conference ID "Goodyear." A replay will be available by calling (800) 839-2394 or (402) 220-7207. The replay will also be available on Goodyear's investor relations website.About GoodyearGoodyear is one of the world's largest tire companies. It employs about 63,000 people and manufactures its products in 49 facilities in 19 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate. Forward-Looking StatementsCertain information contained in this news release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully our strategic initiatives; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; changes in tariffs, trade agreements or trade restrictions; uncertainty regarding the timing and amount of any IEEPA tariff refund; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.Non-GAAP Financial Measures (unaudited)This news release presents non-GAAP financial measures, including Total Segment Operating Income and Margin, Adjusted Net Income (Loss), and Adjusted Diluted Earnings Per Share (EPS), which are important financial measures for the company but are not financial measures defined by U.S. GAAP, and should not be construed as alternatives to corresponding financial measures presented in accordance with U.S. GAAP.Total Segment Operating Income is the sum of the individual strategic business units' (SBUs') Segment Operating Income as determined in accordance with U.S. GAAP. Total Segment Operating Margin is Total Segment Operating Income divided by Net Sales as determined in accordance with U.S. GAAP. Management believes that Total Segment Operating Income and Margin are useful because they represent the aggregate value of income created by the company's SBUs and exclude items not directly related to the SBUs for performance evaluation purposes. The most directly comparable U.S. GAAP financial measures to Total Segment Operating Income and Margin are Goodyear Net Income (Loss) and Return on Net Sales (which is calculated by dividing Goodyear Net Income (Loss) by Net Sales).Adjusted Net Income (Loss) is Goodyear Net Income (Loss) as determined in accordance with U.S. GAAP adjusted for certain significant items. Adjusted Diluted Earnings Per Share (EPS) is the company's Adjusted Net Income (Loss) divided by Weighted Average Shares Outstanding-Diluted as determined in accordance with U.S. GAAP. Management believes that Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share (EPS) are useful because they represent how management reviews the operating results of the company excluding the impacts of rationalizations, asset write-offs, accelerated depreciation, impairments, asset sales and certain other significant items.It should be noted that other companies may calculate similarly-titled non-GAAP financial measures differently and, as a result, the measures presented herein may not be comparable to such similarly-titled measures reported by other companies. See the following tables for reconciliations of historical Total Segment Operating Income and Margin, Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share to the most directly comparable U.S. GAAP financial measures.The Goodyear Tire & Rubber Company and SubsidiariesFinancial Tables (Unaudited)Table 1: Consolidated Statements of Operations
Three Months Ended
March 31,(In millions, except per share amounts)2026
2025Net Sales$ 3,881
$ 4,253Cost of Goods Sold3,188
3,513Selling, Administrative and General Expense668
650Rationalizations104
81Interest Expense95
115Other (Income) Expense9
25Net (Gain) Loss on Asset Sales(3)
(262)Income (Loss) before Income Taxes(180)
131United States and Foreign Tax Expense66
13Net Income (Loss)(246)
118Less: Minority Shareholders' Net Income (Loss)3
3Goodyear Net Income (Loss)$ (249)
$ 115Goodyear Net Income (Loss) — Per Share of Common Stock
Basic$ (0.86)
$ 0.40Weighted Average Shares Outstanding288
287Diluted$ (0.86)
$ 0.40Weighted Average Shares Outstanding288
289 Table 2: Consolidated Balance Sheets
March 31,
December 31,(In millions, except share data)2026
2025Assets:
Current Assets:
Cash and Cash Equivalents$ 723
$ 801Accounts Receivable, less Allowance — $84 ($89 in 2025)2,602
2,341 Inventories:
Raw Materials606
616 Work in Process202
195 Finished Products3,055
2,761
3,863
3,572 Assets Held for Sale6
58 Prepaid Expenses and Other Current Assets452
446 Total Current Assets7,646
7,218Goodwill43
42Intangible Assets658
663Deferred Income Taxes345
348Other Assets1,101
1,096Operating Lease Right-of-Use Assets987
998Property, Plant and Equipment, less Accumulated Depreciation — $12,486 ($12,390 in 2025)7,689
7,843 Total Assets$ 18,469
$ 18,208
Liabilities:
Current Liabilities:
Accounts Payable — Trade$ 3,754
$ 3,879 Compensation and Benefits559
578 Other Current Liabilities1,134
1,259 Notes Payable and Overdrafts483
506 Operating Lease Liabilities due Within One Year199
196 Long Term Debt and Finance Leases due Within One Year1,226
364 Total Current Liabilities7,355
6,782 Operating Lease Liabilities848
862 Long Term Debt and Finance Leases5,276
5,328 Compensation and Benefits763
787 Deferred Income Taxes102
105 Other Long Term Liabilities951
941 Total Liabilities15,295
14,805Commitments and Contingent Liabilities
Shareholders' Equity:
Goodyear Shareholders' Equity:
Common Stock, no par value:
Authorized, 450 million shares, Outstanding shares — 287 million in 2026 (286 million in 2025)287
286 Capital Surplus3,175
3,175 Retained Earnings3,111
3,360 Accumulated Other Comprehensive Loss(3,569)
(3,588) Goodyear Shareholders' Equity3,004
3,233Minority Shareholders' Equity — Nonredeemable170
170 Total Shareholders' Equity3,174
3,403 Total Liabilities and Shareholders' Equity$ 18,469
$ 18,208 Table 3: Consolidated Statements of Cash Flows
Three Months Ended
March 31,(In millions)2026
2025Cash Flows from Operating Activities:
Net Income (Loss)$ (246)
$ 118 Adjustments to Reconcile Net Income (Loss) to Cash Flows from Operating Activities:
Depreciation and Amortization239
270 Amortization and Write-Off of Debt Issuance Costs3
6 Provision for Deferred Income Taxes(2)
(31) Net Pension Curtailments and Settlements—
4 Net Rationalization Charges104
81 Rationalization Payments(83)
(65) Net (Gain) Loss on Asset Sales(3)
(262) Operating Lease Expense74
78 Operating Lease Payments(69)
(71) Pension Contributions and Direct Payments(10)
(41) Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
Accounts Receivable(275)
(431) Inventories(294)
(365) Accounts Payable — Trade(81)
46 Compensation and Benefits(8)
(28) Other Current Liabilities(77)
95 Other Assets and Liabilities10
58 Total Cash Flows from Operating Activities(718)
(538)Cash Flows from Investing Activities:
Capital Expenditures(175)
(259) Asset Dispositions1
720 Other Transactions—
(29) Total Cash Flows from Investing Activities(174)
432Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred225
409 Short Term Debt and Overdrafts Paid(245)
(535) Long Term Debt Incurred2,220
5,951 Long Term Debt Paid(1,393)
(5,627) Other Transactions13
13 Total Cash Flows from Financing Activities820
211Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash3
9 Net Change in Cash, Cash Equivalents and Restricted Cash(69)
114Cash, Cash Equivalents and Restricted Cash at Beginning of the Period910
864 Cash, Cash Equivalents and Restricted Cash at End of the Period$ 841
$ 978 Table 4: Reconciliation of Segment Operating Income & Margin
Three Months Ended
March 31,(In millions)2026
2025Total Segment Operating Income$ 95
$ 195 Less:
Rationalizations104
81 Interest Expense95
115 Other (Income) Expense9
25 Net (Gain) Loss on Asset Sales(3)
(262) Asset Write-Offs, Accelerated Depreciation, and Accelerated Lease Costs, net16
46 Corporate Incentive Compensation Plans23
16 Retained Expenses of Divested Operations3
5 Other28
38Income (Loss) before Income Taxes$ (180)
$ 131United States and Foreign Tax Expense66
13Less: Minority Shareholders' Net Income (Loss)3
3Goodyear Net Income (Loss)$ (249)
$ 115
Net Sales$ 3,881
$ 4,253Return on Net Sales(6.4) %
2.7 %Total Segment Operating Margin2.4 %
4.6 % Table 5: Reconciliation of Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share First Quarter 2026
(In millions, except per share amounts)As Reported
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation and
Leases
Indirect Tax
Settlements and
Discrete Tax Items
Asset and
Other Sales
As AdjustedNet Sales$ 3,881
$ —
$ —
$ —
$ 3,881Cost of Goods Sold3,188
(16)
(8)
—
3,164Gross Margin693
16
8
—
717
SAG668
—
—
—
668Rationalizations104
(104)
—
—
—Interest Expense95
—
—
—
95Other (Income) Expense9
—
—
—
9Net (Gain) Loss on Asset Sales(3)
—
—
3
—Pre-tax Income (Loss)(180)
120
8
(3)
(55)Taxes66
8
(21)
—
53Minority Interest3
1
—
—
4Goodyear Net Income (Loss)$ (249)
$ 111
$ 29
$ (3)
$ (112)
EPS$ (0.86)
$ 0.38
$ 0.10
$ (0.01)
$ (0.39) First Quarter 2025
(In millions, except per share amounts)As
Reported
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation
and Leases
Goodyear
Forward
Costs
Pension
Settlement
Charges
(Credits)
Asset and
Other Sales
As
AdjustedNet Sales$ 4,253
$ —
$ —
$ —
$ —
$ 4,253Cost of Goods Sold3,513
(43)
—
—
—
3,470Gross Margin740
43
—
—
—
783
SAG650
(3)
(2)
—
—
645Rationalizations81
(81)
—
—
—
—Interest Expense115
—
—
—
—
115Other (Income) Expense25
—
(5)
(4)
—
16Net (Gain) Loss on Asset Sales(262)
—
—
—
262
—Pre-tax Income (Loss)131
127
7
4
(262)
7Taxes13
23
2
1
(25)
14Minority Interest3
1
—
—
—
4Goodyear Net Income (Loss)$ 115
$ 103
$ 5
$ 3
$ (237)
$ (11)
EPS$ 0.40
$ 0.36
$ 0.02
$ 0.01
$ (0.83)
$ (0.04) MEDIA CONTACT: KELLY MCGLUMPHYKELLY_MCGLUMPHY@GOODYEAR.COMANALYST CONTACT: RYAN REEDRYAN_REED@GOODYEAR.COM View original content to download multimedia:https://www.prnewswire.com/news-releases/goodyear-announces-first-quarter-2026-results-302764655.htmlSOURCE The Goodyear Tire & Rubber Company Original: Goodyear Announces First Quarter 2026 Results
US Market News
2月前
Did Someone Say Horsepower? Goodyear Launches Global Campaign Celebrating Eagle Performance TireMay 1, 2026 2:00 PM
PR Newswire (US)
"Fast Is In Us" positions company to lead the performance category as it celebrates the legacy of Eagle tiresGoodyear gallops into official campaign launch at the Kentucky DerbyAKRON, Ohio, May 1, 2026 /PRNewswire/ -- Goodyear (NASDAQ: GT), on a bold mission to become No. 1 in tires and service, today launched Fast Is In Us, a global campaign celebrating the legendary Eagle performance tire family as one of the most iconic names in performance driving.
Debuting at the Kentucky Derby, the campaign marks the next chapter in Goodyear's brand resurgence following last year's STILL campaign, which leveraged the brand's iconic status, reminding audiences that not all tires are born equal. Fast Is In Us builds on that momentum."The performance car category is growing, and the drivers entering it want tires worth bragging about," said Mark Stewart, Goodyear Chief Executive Officer and President. "Eagle has more than four decades of credibility in performance and racing, and Fast Is In Us puts that legacy back to work—re-establishing Eagle as the tire knowledgeable drivers choose when performance truly matters. This campaign reflects how we're building Goodyear for the future: leading with premium products, authentic performance, and brands that mean something."Fast Isn't a Number. It's an Obsession.Fast Is In Us goes beyond traditional ideas of speed. The campaign celebrates the people who are wired to love cars: the design, the engineering, the feel through the wheel, the moment when everything clicks and a car comes alive.J.J. Kraft, VP Global Creative at Goodyear said "Eagle isn't a product line — it's a piece of car culture. Fast Is In Us is a comprehensive platform built to put Eagle back at the center of that enthusiasm. It expresses performance through feel and confidence behind the wheel, not just numbers on a page. It stands as one global campaign idea with the range to live across motorsport, retail, and culture, and the ambition to lead the category, not chase it.""For these drivers, Eagle is more than a tire, it's a badge of devotion for drivers who respect the craft behind performance and demand confidence, responsiveness, and control every time they drive. Fast, in this world, isn't something you switch on. It's something you live," Kraft added.Performance That's Earned, Not ClaimedFast Is In Us is grounded in Eagle's decades-long performance pedigree, shaped in elite motorsport environments and refined through high-performance automotive partnerships and award-winning products such as the Eagle F1 Asymmetric 6, Eagle F1 SuperSport and Eagle F1 All Season. Eagle tires are designed by those who understand performance as something you feel, not something you claim.After 45 years, millions of drivers, and a legacy built on performance, Eagle enters its next era with a simple belief: Fast isn't new to us. It's the way we're built.A Campaign Built to Lead, Not FollowFast Is In Us marks Goodyear's first global campaign built around a family of performance tires, inviting drivers to live and breathe Eagle as a performance philosophy, not a one-off product. Designed as a multi-phased, multi-year platform, the campaign will roll out globally across premium TV, out-of-home, digital, social, and cultural moments—guided by a single ambition: to make Eagle impossible to ignore.Launching at the Kentucky Derby, the campaign makes its debut as the Goodyear Blimp flies overhead with the line: "Did someone say horsepower?" across campaign assets. A playful nod to one of America's most iconic sporting moments, the message blends performance, heritage and confidence.Following launch, Goodyear will take Fast Is In Us into the heart of global performance culture, integrating with major moments such as the 24 Hours of Le Mans and other elite racing and enthusiast events around the world.With Fast Is In Us, Goodyear isn't introducing Eagle to a new audience—it's reminding performance drivers why it belonged with them in the first place.The campaign was created in collaboration with Publicis P1T Crew, creatively led by BBH USA.For more information, visit https://www.goodyear.com/en-us/tires/by-brand/goodyear/eagleAbout The Goodyear Tire & Rubber Company
Goodyear is one of the world's largest tire companies. It employs about 63,000 people and manufactures its products in 49 facilities in 19 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.CONTACT:
DOUG GRASSIAN
407.376.9429
DOUG_GRASSIAN@GOODYEAR.COM
View original content to download multimedia:https://www.prnewswire.com/news-releases/did-someone-say-horsepower-goodyear-launches-global-campaign-celebrating-eagle-performance-tire-302760373.htmlSOURCE The Goodyear Tire & Rubber Company
Original: Did Someone Say Horsepower? Goodyear Launches Global Campaign Celebrating Eagle Performance Tire
US Market News
5月前
Goodyear Announces Fourth Quarter and Full-Year 2025 Financial ResultsFebruary 9, 2026 4:30 PM
PR Newswire (US)
Fourth Quarter HighlightsNet sales of $4.9 billion, flat from 2024 and up 4% organically Goodyear net income of $105 million, or $113 million as adjusted Segment operating income of $416 million – well ahead of expectations, up 9% from 2024, up 18% organically Segment operating margin of 8.5%, up 80 basis points, cash flows from operating activities of $1.5 billionGoodyear Forward delivered $192 million of benefitsAKRON, Ohio, Feb. 9, 2026 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ:GT) reported fourth quarter and full-year 2025 results today and the company will host an investor call tomorrow morning, Tuesday, Feb. 10, at 8:30 a.m. Eastern time led by Mark Stewart, Goodyear's chief executive officer and president, and Christina Zamarro, the company's executive vice president and chief financial officer.
"We delivered another strong quarter, driven by execution of our Goodyear Forward plan," said Mark Stewart, chief executive officer and president. "Our fourth quarter results mark the highest segment operating income and margin the company has achieved in more than seven years. While we continue to face challenging industry conditions in the first quarter, we are operating with greater focus and discipline on the elements within our control – much as we did throughout 2025 – to navigate the current environment."Financial ResultsGoodyear's fourth quarter 2025 net sales were $4.9 billion, with tire unit volumes totaling 42.3 million. After adjusting for the impact of the sales of its Off-the-Road (OTR) tire and Chemical businesses of $227 million, organic net sales increased 4%. Fourth quarter 2025 Goodyear net income was $105 million, or $0.36 per share, compared to Goodyear net income one year ago of $73 million, or $0.25 per share. The fourth quarter of 2025 included several significant items, including, on a pre-tax basis, gains on asset sales of $116 million, and an insurance recovery of $56 million, offset by pension settlement charges of $129 million, rationalization charges, asset write-offs, and accelerated depreciation and leases of $50 million and discrete tax items of $6 million.Fourth quarter 2025 adjusted net income was $113 million, compared to adjusted net income of $111 million in the prior year's quarter. Adjusted earnings per share was $0.39, which includes several items, notably an adjustment for an insurance recovery of $56 million, or $0.19 per share, in the fourth quarter, compared to $0.38 in the prior year's quarter. Per share amounts are diluted.Segment ResultsThe company reported total segment operating income of $416 million in the fourth quarter of 2025, compared to $382 million from a year ago. After adjusting for the impact of the sales of its Off-the-Road (OTR) tire and Chemical businesses of $30 million, organic segment operating income increased $64 million, or 18%. The increase in segment operating income reflects benefits from Goodyear Forward of $192 million and favorable price/mix versus raw material costs of $197 million, offset by inflation, tariffs, and other costs of $227 million, and the impact of lower volume of $92 million. Goodyear ForwardGoodyear Forward delivered $192 million of benefits in the fourth quarter of 2025. Since inception, the program has generated $1.25 billion of cumulative segment operating income benefits, exceeding its original commitment by approximately $150 million. At the end of 2025, the company had reached a $1.5 billion run-rate over the two-year program.Additionally, in 2025, Goodyear generated $2.3 billion of proceeds from divestitures and other asset sales, including the sales of its Chemical and OTR businesses and the Dunlop brand, which were primarily used to reduce debt. This exceeded the Company's asset sale proceeds target by approximately $300 million.Full-Year ResultsGoodyear's 2025 net sales were $18.3 billion, with tire unit volumes totaling 158.7 million. Goodyear net loss was $1.7 billion, or ($5.99) per share, compared to Goodyear net income of $46 million, or $0.16 per share, a year ago. Full-year 2025 included several significant items, including, on a pre-tax basis, gains on asset sales of $816 million and an insurance recovery of $56 million, offset by a non-cash deferred tax asset valuation allowance of $1.5 billion, a non-cash goodwill impairment charge of $674 million, rationalization charges, asset write-offs, and accelerated depreciation and leases of $354 million, pension settlement charges of $201 million, and Goodyear Forward costs of $15 million.Full-year 2025 adjusted net income was $136 million, compared to adjusted net income of $278 million in the prior year. Adjusted earnings per share was $0.47, compared to $0.97 in the prior year.The company reported total segment operating income of $1.1 billion in 2025, compared to $1.3 billion in the prior year. After adjusting for the impact of the sales of its OTR tire and Chemical businesses of $75 million, segment operating income declined $170 million, reflecting lower volumes amid continued headwinds in the commercial industry, as well as tariff-related market dynamics. Segment operating income reflects benefits from Goodyear Forward of $772 million and net price/mix versus raw material costs of $22 million, offset by inflation, tariffs, and other costs of $543 million, lower volume of $285 million, and non-recurrence of insurance recoveries, net of expenses, of $62 million.Additional earnings materials can be found on Goodyear's investor relations website at http://investor.goodyear.com. Reconciliation of Non-GAAP Financial MeasuresSee "Non-GAAP Financial Measures" and "Financial Tables" for further explanation and reconciliation tables for historical Total Segment Operating Income and Margin; Adjusted Net Income (Loss); and Adjusted Diluted Earnings per Share, reflecting the impact of certain significant items on the 2025 and 2024 periods. Organic earnings measures exclude the impact of divestitures; see "Non-GAAP Financial Measures" for additional details.Business Segment Results AMERICAS
Fourth QuarterYear Ended(In millions)2025202420252024
Tire Units21.122.078.281.6Net Sales$2,867$2,890$10,768$11,033Segment Operating Income $233$262$735$933Segment Operating Margin8.1 %9.1 %6.8 %8.5 %Americas' fourth quarter 2025 net sales of $2.9 billion were 0.8% lower than the previous year, driven by a decline in volume, partially offset by price/mix benefits. Tire unit volume decreased 3.9%. Replacement tire unit volume decreased 3.7%, primarily due to reduced sales as a result of high channel inventories of imported products in the U.S. Consumer original equipment tire unit volume decreased 2.6%, driven by lower OEM production. Similar to prior quarters, the Commercial business experienced a sharp contraction in industry demand.Segment operating income of $233 million decreased $29 million from last year. The decrease was driven by the non-recurrence of 2024 net insurance recoveries of $52 million and the impact of the sale of the Chemical business of $7 million.EMEA
Fourth QuarterYear Ended(In millions)2025202420252024
Tire Units12.312.647.948.9Net Sales$1,522$1,451$5,550$5,425Segment Operating Income$114$38$114$92Segment Operating Margin7.5 %2.6 %2.1 %2.3 %EMEA's fourth quarter 2025 net sales of $1.5 billion increased 4.9% from fourth quarter 2024, driven by benefits in price/mix and currency, partly offset by lower tire volume. Tire unit volume decreased 2.3%. Replacement unit volume decreased 8.2%, driven by industry weakness. Original equipment tire unit volume increased 14.3%, reflecting significant consumer market share gains.Fourth quarter segment operating income of $114 million increased $76 million from the previous year. EMEA's results include an insurance recovery of $56 million, which is excluded from total company adjusted net income and adjusted earnings per share.ASIA PACIFIC
Fourth QuarterYear Ended(In millions)2025202420252024
Tire Units8.99.032.636.1Net Sales$528$606$1,962$2,420Segment Operating Income $69$82$208$277Segment Operating Margin13.1 %13.5 %10.6 %11.4 %Asia Pacific's fourth quarter 2025 net sales of $528 million were 12.9% lower than the previous year, driven by the sale of the OTR tire business. Tire unit volume decreased 1.6%, driven by lower consumer OE sales in China.Fourth quarter 2025 segment operating income of $69 million was $13 million lower than the prior year, which was driven by the sale of the OTR tire business. Excluding the impacts related to the sale of the OTR tire business of $29 million, Asia Pacific segment operating income increased 30% and segment operating margin grew 330 basis points.Conference CallThe company will host an investor call on Tuesday, Feb. 10, 2026, at 8:30 a.m. Eastern time. Please visit Goodyear's investor relations website: http://investor.goodyear.com, for additional earnings materials.Participating in the conference call will be Mark Stewart, chief executive officer and president, and Christina Zamarro, executive vice president and chief financial officer.The investor call can be accessed on the website or via telephone by calling either (800) 343-4849 or (203) 518-9848 before 8:25 a.m. Eastern time and providing the conference ID "Goodyear." A replay will be available by calling (800) 925-9899 or (402) 220-5392. The replay will also be available on Goodyear's investor relations website.About GoodyearGoodyear is one of the world's largest tire companies. It employs about 63,000 people and manufactures its products in 49 facilities in 19 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate. Forward-Looking StatementsCertain information contained in this news release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully our strategic initiatives; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; changes in tariffs, trade agreements or trade restrictions; delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.Revision of Previously Issued Financial StatementsThis news release reflects revised prior period financial information to correct an accounting error related to the historic computation of currency remeasurement for our foreign operations in Turkey. We evaluated the errors and determined that the related impacts were not material in any previously issued annual or interim financial statements. See Notes 1 and 16 of the Notes to Consolidated Financial Statements included in our Form 10-Q for the quarterly period ended June 30, 2025, filed on August 8, 2025, for revised financial information reflecting the corrections to prior periods.Non-GAAP Financial Measures (unaudited)This news release presents non-GAAP financial measures, including Total Segment Operating Income and Margin, Adjusted Net Income (Loss), Adjusted Diluted Earnings Per Share (EPS), and organic earnings measures, which are important financial measures for the company but are not financial measures defined by U.S. GAAP, and should not be construed as alternatives to corresponding financial measures presented in accordance with U.S. GAAP.Total Segment Operating Income is the sum of the individual strategic business units' (SBUs') Segment Operating Income as determined in accordance with U.S. GAAP. Total Segment Operating Margin is Total Segment Operating Income divided by Net Sales as determined in accordance with U.S. GAAP. Management believes that Total Segment Operating Income and Margin are useful because they represent the aggregate value of income created by the company's SBUs and exclude items not directly related to the SBUs for performance evaluation purposes. The most directly comparable U.S. GAAP financial measures to Total Segment Operating Income and Margin are Goodyear Net Income (Loss) and Return on Net Sales (which is calculated by dividing Goodyear Net Income (Loss) by Net Sales).Adjusted Net Income (Loss) is Goodyear Net Income (Loss) as determined in accordance with U.S. GAAP adjusted for certain significant items. Adjusted Diluted Earnings Per Share (EPS) is the company's Adjusted Net Income (Loss) divided by Weighted Average Shares Outstanding-Diluted as determined in accordance with U.S. GAAP. Management believes that Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share (EPS) are useful because they represent how management reviews the operating results of the company excluding the impacts of rationalizations, asset write-offs, accelerated depreciation, discrete tax items, impairments, asset sales and certain other significant items.Organic earnings measures, including organic Net Sales growth, organic Segment Operating Income and organic Segment Operating Income growth, are non-GAAP financial measures that exclude the direct impacts of the divestitures of our OTR and Chemical businesses from year-over-year comparisons. We believe these measures provide investors with a supplemental understanding of underlying earnings trends by providing comparisons on a constant basis. We completed the sale of our OTR and Chemical businesses in February 2025 and October 2025, respectively.It should be noted that other companies may calculate similarly-titled non-GAAP financial measures differently and, as a result, the measures presented herein may not be comparable to such similarly-titled measures reported by other companies. See the following tables for reconciliations of historical Total Segment Operating Income and Margin, Adjusted Net Income (Loss), and Adjusted Diluted Earnings Per Share to the most directly comparable U.S. GAAP financial measures.The Goodyear Tire & Rubber Company and Subsidiaries
Financial Tables (Unaudited)Table 1: Consolidated Statements of Operations
Three Months Ended
Year Ended
December 31,
December 31,(In millions, except per share amounts)2025
2024
2025
2024Net Sales$ 4,917
$ 4,947
$ 18,280
$ 18,878Cost of Goods Sold3,890
3,961
14,909
15,192Selling, Administrative and General Expense701
692
2,719
2,782Goodwill and Intangible Asset Impairment—
—
674
125Rationalizations33
34
194
86Interest Expense104
131
445
522Other Expense141
39
288
134Net (Gain) Loss on Asset Sales(116)
2
(816)
(93)Income (Loss) before Income Taxes164
88
(133)
130United States and Foreign Tax Expense66
20
1,567
95Net Income (Loss)98
68
(1,700)
35Less: Minority Shareholders' Net Income (Loss)(7)
(5)
21
(11)Goodyear Net Income (Loss)$ 105
$ 73
$ (1,721)
$ 46Goodyear Net Income (Loss) — Per Share of Common Stock
Basic$ 0.36
$ 0.25
$ (5.99)
$ 0.16Weighted Average Shares Outstanding288
287
288
287Diluted$ 0.36
$ 0.25
$ (5.99)
$ 0.16Weighted Average Shares Outstanding290
288
288
288 Table 2: Consolidated Balance Sheets
December 31,
December 31,(In millions, except share data)2025
2024Assets:
Current Assets:
Cash and Cash Equivalents$ 801
$ 810Accounts Receivable, less Allowance — $89 ($84 in 2024)2,341
2,482 Inventories:
Raw Materials616
728 Work in Process195
207 Finished Products2,761
2,619
3,572
3,554 Assets Held for Sale58
466 Prepaid Expenses and Other Current Assets446
277 Total Current Assets7,218
7,589Goodwill42
756Intangible Assets663
805Deferred Income Taxes348
1,686Other Assets1,096
1,052Operating Lease Right-of-Use Assets998
951Property, Plant and Equipment, less Accumulated Depreciation — $12,390 ($12,212 in 2024)7,843
8,082 Total Assets$ 18,208
$ 20,921
Liabilities:
Current Liabilities:
Accounts Payable — Trade$ 3,879
$ 4,092 Compensation and Benefits578
606 Other Current Liabilities1,259
1,089 Notes Payable and Overdrafts506
558 Operating Lease Liabilities due Within One Year196
200 Long Term Debt and Finance Leases due Within One Year364
832 Total Current Liabilities6,782
7,377 Operating Lease Liabilities862
804 Long Term Debt and Finance Leases5,328
6,392 Compensation and Benefits787
789 Deferred Income Taxes105
108 Other Long-Term Liabilities941
628 Total Liabilities14,805
16,098Commitments and Contingent Liabilities
Shareholders' Equity:
Goodyear Shareholders' Equity:
Common Stock, no par value:
Authorized, 450 million shares, Outstanding shares — 286 million in 2025 (285 million in 2024)286
285 Capital Surplus3,175
3,159 Retained Earnings3,360
5,081 Accumulated Other Comprehensive Loss(3,588)
(3,844) Goodyear Shareholders' Equity3,233
4,681Minority Shareholders' Equity — Nonredeemable170
142 Total Shareholders' Equity3,403
4,823 Total Liabilities and Shareholders' Equity$ 18,208
$ 20,921 Table 3: Consolidated Statements of Cash Flows
Year Ended
December 31,(In millions)2025
2024Cash Flows from Operating Activities:
Net Income (Loss)$ (1,700)
$ 35 Adjustments to Reconcile Net Income (Loss) to Cash Flows from Operating Activities:
Depreciation and Amortization1,045
1,049 Amortization and Write-Off of Debt Issuance Costs19
14 Goodwill and Intangible Asset Impairment674
125 Provision for Deferred Income Taxes1,357
(65) Net Pension Curtailments and Settlements201
(3) Net Rationalization Charges194
86 Rationalization Payments(431)
(198) Net (Gain) Loss on Asset Sales(816)
(93) Loss (Gain) on Insurance Recoveries for Damaged Property, Plant and Equipment—
(75) Operating Lease Expense318
326 Operating Lease Payments(287)
(277) Pension Contributions and Direct Payments(83)
(69) Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
Accounts Receivable215
127 Inventories12
(106) Accounts Payable — Trade(248)
(78) Compensation and Benefits28
24 Other Current Liabilities247
(151) Other Assets and Liabilities51
27 Total Cash Flows from Operating Activities796
698Cash Flows from Investing Activities:
Capital Expenditures(826)
(1,188) Insurance Recoveries for Damaged Property, Plant and Equipment—
62 Cash Proceeds from Sale and Leaseback Transactions—
16 Asset Dispositions1,802
115 Short Term Securities Redeemed—
2 Long Term Securities Redeemed4
4 Notes Receivable14
(23) Other Transactions3
7 Total Cash Flows from Investing Activities997
(1,005)Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred966
1,326 Short Term Debt and Overdrafts Paid(1,033)
(1,095) Long Term Debt Incurred16,071
14,420 Long Term Debt Paid(17,763)
(14,387) Common Stock Issued(6)
(3) Transactions with Minority Interests in Subsidiaries(4)
(8) Debt Related Costs and Other Transactions(1)
(28) Total Cash Flows from Financing Activities(1,770)
225Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash23
(39) Net Change in Cash, Cash Equivalents and Restricted Cash46
(121)Cash, Cash Equivalents and Restricted Cash at Beginning of the Period864
985 Cash, Cash Equivalents and Restricted Cash at End of the Period$ 910
$ 864 Table 4: Reconciliation of Segment Operating Income & Margin
Three Months Ended
Year Ended
December 31,
December 31,(In millions)2025
2024
2025
2024Total Segment Operating Income$ 416
$ 382
$ 1,057
$ 1,302 Less:
Goodwill and Intangible Asset Impairment—
—
674
125 Rationalizations33
34
194
86 Interest Expense104
131
445
522 Other Expense141
39
288
134 Net (Gain) Loss on Asset Sales(116)
2
(816)
(93) Asset Write-Offs, Accelerated Depreciation, and Accelerated Lease Costs, net18
27
160
146 Corporate Incentive Compensation Plans25
12
69
62 Retained Expenses of Divested Operations5
4
13
15 Other42
45
163
175Income (Loss) before Income Taxes$ 164
$ 88
$ (133)
$ 130United States and Foreign Tax Expense66
20
1,567
95Less: Minority Shareholders' Net Income (Loss)(7)
(5)
21
(11)Goodyear Net Income (Loss)$ 105
$ 73
$ (1,721)
$ 46
Net Sales$ 4,917
$ 4,947
$ 18,280
$ 18,878
Return on Net Sales2.1 %
1.5 %
(9.4) %
0.2 %Total Segment Operating Margin8.5 %
7.7 %
5.8 %
6.9 % Table 5: Reconciliation of Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share
Fourth Quarter 2025
(In millions, except per share
amounts) As
Reported
Pension
Settlement
Charges
Rationalizations,
Asset Write-
offs,
Accelerated
Depreciation
and Leases
Indirect Tax
Settlements and
Discrete Tax Items
Goodyear
Forward
and Other
Transaction
Costs
Debica Fire
Insurance
Recoveries
Asset and
Other Sales
As AdjustedNet Sales$ 4,917
$ —
$ —
$ —
$ —
$ —
$ —
$ 4,917Cost of Goods Sold3,890
—
(12)
—
—
56
—
3,934Gross Margin1,027
—
12
—
—
(56)
—
983
SAG701
—
(5)
—
(6)
—
—
690Rationalizations33
—
(33)
—
—
—
—
-Interest Expense104
—
—
—
—
—
—
104Other (Income) Expense141
(129)
—
—
8
—
—
20Net (Gain) Loss on Asset Sales(116)
—
—
—
—
—
116
-Pre-tax Income (Loss)164
129
50
—
(2)
(56)
(116)
169Taxes66
—
—
(6)
(1)
—
2
61Minority Interest(7)
—
—
2
—
—
—
(5)Goodyear Net Income (Loss)$ 105
$ 129
$ 50
$ 4
$ (1)
$ (56)
$ (118)
$ 113
EPS$ 0.36
$ 0.44
$ 0.19
$ 0.01
$ (0.01)
$ (0.19)
$ (0.41)
$ 0.39 Fourth Quarter 2024
(In millions, except per share
amounts) As
Reported
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation
and Leases
Goodyear
Forward
Costs
Asset and
Other
Sales
Pension
Settlement
Charges
(Credits)
Indirect Tax
Settlements
and Discrete
Tax Items
Americas
Storm
Insurance
Recoveries
As
AdjustedNet Sales$ 4,947
$ —
$ —
$ —
$ —
$ —
$ —
$ 4,947Cost of Goods Sold3,961
(21)
—
—
—
—
52
3,992Gross Margin986
21
—
—
—
—
(52)
955
SAG692
(7)
(25)
—
—
—
—
660Rationalizations34
(34)
—
—
—
—
—
—Interest Expense131
—
—
—
—
—
—
131Other (Income) Expense39
—
(6)
—
(2)
—
—
31Net (Gain) Loss on Asset Sales2
—
—
(2)
—
—
—
—Pre-tax Income (Loss)88
62
31
2
2
—
(52)
133Taxes20
2
7
—
—
8
(12)
25Minority Interest(5)
2
—
—
—
—
—
(3)Goodyear Net Income (Loss)$ 73
$ 58
$ 24
$ 2
$ 2
$ (8)
$ (40)
$ 111
EPS$ 0.25
$ 0.20
$ 0.08
$ 0.01
$ 0.01
$ (0.03)
$ (0.14)
$ 0.38 Full Year 2025
(In millions, except per share
amounts) As
Reported
Indirect Tax
Settlements
and Discrete
Tax Items
Goodwill
Impairment
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation and
Leases
Pension
Settlement
Charges
Goodyear
Forward
Costs and
Other
Transaction
Costs
Debica Fire
Insurance
Recoveries
Asset and
Other
Sales
As
AdjustedNet Sales$ 18,280
$ —
$ —
$ —
$ —
$ —
$ —
$ —
$ 18,280Cost of Goods Sold14,909
—
—
(148)
—
—
56
—
14,817Gross Margin3,371
—
—
148
—
—
(56)
—
3,463
SAG2,719
—
—
(12)
—
(15)
—
—
2,692Goodwill Impairment674
—
(674)
—
—
—
—
—
—Rationalizations194
—
—
(194)
—
—
—
—
—Interest Expense445
—
—
—
—
—
—
—
445Other (Income) Expense288
—
—
—
(201)
—
—
—
87Net (Gain) Loss on Asset Sales(816)
—
—
—
—
—
—
816
—Pre-tax Income (Loss)(133)
—
674
354
201
15
(56)
(816)
239Taxes1,567
(1,453)
—
32
1
—
—
(44)
103Minority Interest21
3
—
1
—
—
—
(25)
—Goodyear Net Income (Loss)$ (1,721)
$ 1,450
$ 674
$ 321
$ 200
$ 15
$ (56)
$ (747)
$ 136
EPS$ (5.99)
$ 5.03
$ 2.33
$ 1.13
$ 0.69
$ 0.05
$ (0.19)
$ (2.58)
$ 0.47 Full Year 2024
(In millions, except per share
amounts) As
Reported
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation
and Leases
Intangible
Asset
Impairment
Goodyear
Forward
Costs
South
Africa
Flood
Impact
Pension
Settlement
Charges
(Credits)
Indirect Tax
Settlements
and Discrete
Tax Items
Debica Fire
Impact and
Insurance
Recoveries
Asset and
Other Sales
Americas
Storm
Insurance
Recoveries
As
AdjustedNet Sales$ 18,878
$ —
$ —
$ —
$ —
$ —
$ —
$ —
$ —
$ —
$ 18,878Cost of Goods Sold15,192
(116)
—
—
(3)
—
8
26
—
92
15,199Gross Margin3,686
116
—
—
3
—
(8)
(26)
—
(92)
3,679
SAG2,782
(30)
—
(105)
—
—
—
—
—
—
2,647Intangible Asset Impairment125
—
(125)
—
—
—
—
—
—
—
—Rationalizations86
(86)
—
—
—
—
—
—
—
—
—Interest Expense522
—
—
—
—
—
—
—
—
—
522Other (Income) Expense134
—
—
(19)
—
3
2
—
(8)
—
112Net (Gain) Loss on Asset Sales(93)
—
—
—
—
—
—
—
93
—
—Pre-tax Income (Loss)130
232
125
124
3
(3)
(10)
(26)
(85)
(92)
398Taxes95
18
31
30
—
(1)
(1)
(6)
(25)
(23)
118Minority Interest(11)
16
—
—
—
—
—
(3)
—
—
2Goodyear Net Income (Loss)$ 46
$ 198
$ 94
$ 94
$ 3
$ (2)
$ (9)
$ (17)
$ (60)
$ (69)
$ 278
EPS$ 0.16
$ 0.69
$ 0.33
$ 0.33
$ 0.01
$ (0.01)
$ (0.03)
$ (0.06)
$ (0.21)
$ (0.24)
$ 0.97 MEDIA CONTACT:
DOUG GRASSIAN
330.796.3855
DOUG_GRASSIAN@GOODYEAR.COM ANALYST CONTACT:
RYAN REED
330.796.0368
RYAN_REED@GOODYEAR.COM
View original content to download multimedia:https://www.prnewswire.com/news-releases/goodyear-announces-fourth-quarter-and-full-year-2025-financial-results-302682960.htmlSOURCE The Goodyear Tire & Rubber Company
Original: Goodyear Announces Fourth Quarter and Full-Year 2025 Financial Results
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