Core Viewpoint - Goodyear Tire & Rubber Company experienced a significant decline in stock price, dropping 15.1% on August 1, 2024, following disappointing revenue results for Q2 2024, which fell short of analyst expectations despite some positive earnings metrics [1][2]. Financial Performance - Revenue for Q2 2024 was reported at $4.57 billion, a decrease of 6.1% from $4.87 billion in Q2 2023, and $210 million lower than analyst forecasts [2]. - The Americas segment saw an 8.2% revenue decline, dropping from $2.94 billion, primarily due to a 5.9% decrease in tire shipments, from 20.8 million to 19.6 million [3][4]. - The EMEA segment's sales fell by 4.6% from $1.34 billion to $1.28 billion, impacted by a decline in tire sales and foreign currency fluctuations [5][6]. - The Asia Pacific region was the only segment to show growth, with a 1.2% increase in sales from $587 million to $594 million, driven by a 32.2% rise in original equipment tire volume due to increased EV fitments in China [5][7]. Earnings and Profitability - The company reported earnings per share of $0.30, significantly better than the $0.73 loss in Q2 2023, and $0.19 above analyst expectations [8][9]. - Adjusted earnings improved from a loss of $97 million last year to a gain of $54 million this year, with GAAP loss turning into a gain of $85 million [9]. - EBITDA increased from $296 million to $483 million, indicating overall improvement in profitability metrics [9]. Cost-Cutting Initiatives - Goodyear's "Goodyear Forward" plan aims to sell $2 billion in assets and implement cost-cutting measures to reduce annual expenditures by $1.3 billion, with $162 million in savings achieved by Q2 2024 [10][11]. - The company has made progress in asset sales, agreeing to sell its Off-The-Road operations for $905 million, with further sales expected to follow [11][12]. Market Position and Valuation - Despite the revenue decline, the stock is viewed as attractively priced, trading in the mid-single digit range on both price-to-adjusted operating cash flow and EV to EBITDA basis [13]. - The increase in net debt by $314 million is noted, but it is expected to be offset by asset sales and improvements in the bottom line [12][14].

JayLazarin/iStock Unreleased via Getty Images Introduction Goodyear Tire & Rubber (NASDAQ:GT) is a tire manufacturer going through a turnaround. Since the last time I reviewed the company in March 2024, shares are down about 20% while the S&P500 has gone on to return 6%. Clearly, the company has been an underperformer, but this is also highlighted in longer time frames where the company has experienced weak sales and earnings. Under the hood, the company has been trying to make investments to generate margi ...

Tire sales are down despite an improving auto market.Shares of Goodyear Tire & Rubber (GT -15.90%) plunged as much as 16.7% in trading on Thursday after reporting second-quarter 2024 financial results. The stock closed down 15.9% on the day.Weak sales hit Goodyear stockRevenue for the quarter was $4.57 billion, down from $4.87 billion a year ago. But the company swung from a loss of $208 million to a profit of $85 million, or $0.30 per share.Earnings on an adjusted basis of $0.19 per share topped analysts' ...

EARNINGS RELEASE Q2 2024 - 1 Q2 2024 | AUGUST 1, 2024 Q2 2024 HIGHLIGHTS SEGMENT OPERATING INCOME more than double vs prior year 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% DEFINITIVE AGREEMENT SIGNED for sale of Off-the-Road tire business GOODYEAR FORWARD progress continues ahead of plan Q2 2024 - 2 Quarter Highlights Financial Results SBU Results Outlook Important Disclosures Appendix Q2 2024 KEY METRICS Ti ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 Commission File Number: 1-1927 THE GOODYEAR TIRE & RUBBER COMPANY (Exact Name of Registrant as Specified in Its Charter) Ohio 34-0253240 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 200 Innovation Way, Akron, Ohio 44316-0001 ...

Financial Data and Key Metrics - Q2 2024 segment operating income was $339 million, with a margin of 7.4%, nearly triple the margin from Q2 2023 [7] - Reported EPS increased by over $1, and adjusted EPS grew by $0.53 year-over-year [7] - Sales totaled $4.6 billion, down 6% from last year, driven by lower volume and unfavorable price/mix [14] - Unit volume decreased by 2% year-over-year, with replacement volume declining by 7% and OE volume increasing by 13% [14] - Free cash flow was a use of $346 million in Q2, compared to a cash inflow of $96 million in the same period last year [16] Business Line Performance - Americas: Unit volume decreased by 6%, driven by replacement volume, but segment operating income increased by $138 million to $241 million [17] - EMEA: Unit volume decreased by 1%, with segment operating income up $54 million to $35 million [18] - Asia Pacific: Unit volume increased by 8%, driven by OE growth in China, with segment operating income up $23 million to $63 million [19] Market Performance - Americas: U.S. replacement industry grew slightly, but low-end imports increased by 18%, impacting branded tire companies [17] - EMEA: Western Europe saw growth, but Eastern Europe, particularly Turkey, experienced declining volume due to pricing actions in response to hyperinflation [18] - Asia Pacific: Strong growth in China's OE market, especially in the EV segment, but consumer replacement industry in China was weaker than expected [10] Company Strategy and Industry Competition - The company is focusing on profitable volume segments and high-return areas while executing cost reduction efforts [6] - Goodyear Forward initiatives contributed $90 million in Q2, with benefits driven by purchasing initiatives [15] - The company is reducing exposure to competitive Tier 3 and Tier 4 market segments through SKU rationalization and margin enhancement actions [8] - The company is transitioning to shared services in EMEA and opening a new shared services center in Costa Rica for the Americas [11] Management Commentary on Operating Environment and Future Outlook - The industry environment in the first half of 2024 was challenging, with downgrades to OEM production levels and a saturated replacement market due to low-end imports [6] - The company expects industry challenges to continue through the second half of 2024 [6] - Full-year unit volume outlook has been revised to reflect first-half experience, with Q3 global unit volume expected to decline by approximately 4% [20] - The company increased its full-year outlook for Goodyear Forward initiatives, reflecting strong progress across work streams [20] Other Important Information - The company achieved a 15% reduction in Americas overtime hours by June [12] - The sale of a valuable property in Germany was reported in Q2, as part of real estate portfolio optimization [12] - The Goodyear Vector Gen-3 All Season tire was awarded a test winner by ADAC, which is expected to drive price and mix in the fast-growing segment [9] Q&A Session Summary - No specific questions or answers were provided in the transcript [21][22][23]

Core Insights - Goodyear reported $4.57 billion in revenue for Q2 2024, a year-over-year decline of 6.1% [1] - The EPS for the quarter was $0.19, a significant improvement from -$0.34 a year ago [1] - Revenue fell short of the Zacks Consensus Estimate by 4.67%, while EPS exceeded expectations by 111.11% [1] Revenue and Earnings Performance - Total tire units sold were 40.1 million, below the average estimate of 40.77 million [6] - Net sales in the Americas were $2.70 billion, compared to the average estimate of $2.87 billion, reflecting an 8.2% year-over-year decline [7] - Net sales in Asia Pacific reached $594 million, slightly below the average estimate of $604.36 million, with a year-over-year increase of 1.2% [8] - Net sales in Europe, Middle East, and Africa were $1.28 billion, just under the average estimate of $1.30 billion, showing a year-over-year decline of 4.6% [9] Market Performance - Goodyear shares have returned +4% over the past month, outperforming the Zacks S&P 500 composite, which declined by -0.4% [9] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [9]

[Executive Summary](index=1&type=section&id=Executive%20Summary) Goodyear achieved significant financial improvement in Q2 2024, with net income and adjusted net income turning profitable, driven by the "Goodyear Forward" plan, favorable price/mix, and insurance recoveries [Second Quarter 2024 Financial Highlights](index=1&type=section&id=Second%20Quarter%202024%20Financial%20Highlights) Goodyear achieved significant financial improvement in Q2 2024, with net income and adjusted net income turning profitable, driven by the "Goodyear Forward" plan, favorable price/mix, and insurance recoveries | Metric | Q2 2024 | Q2 2023 | Change | | :----------------------- | :------------- | :------------- | :--- | | Net Income (Million USD) | $85 | $(208) | From Loss to Profit | | Net Income Per Share (USD) | $0.30 | $(0.73) | From Loss to Profit | | Adjusted Net Income (Million USD) | $54 | $(97) | From Loss to Profit | | Adjusted EPS (USD) | $0.19 | $(0.34) | From Loss to Profit | | Segment Operating Income (Million USD) | $339 | $124 | +$215 | | Sales (Billion USD) | $4.6 | $4.867 | -5.9% | | Tire Volume (Million Units) | 40.1 | - | - | - The "Goodyear Forward" transformation plan contributed **$90 million** in benefits[2](index=2&type=chunk)[5](index=5&type=chunk) [Year-to-Date Results](index=2&type=section&id=Year-to-Date%20Results) Goodyear's net income and adjusted net income significantly improved in H1 2024, with substantial segment operating income growth, despite lower tire volumes and higher inflation costs | Metric | H1 2024 | H1 2023 | Change | | :----------------------- | :----------- | :----------- | :--- | | Net Income (Million USD) | $28 | $(309) | From Loss to Profit | | Net Income Per Share (USD) | $0.10 | $(1.08) | From Loss to Profit | | Adjusted Net Income (Million USD) | $83 | $(179) | From Loss to Profit | | Adjusted EPS (USD) | $0.29 | $(0.63) | From Loss to Profit | | Segment Operating Income (Million USD) | $586 | $249 | +$337 | | Sales (Billion USD) | $9.1 | $9.808 | -7.1% | | Tire Volume (Million Units) | 80.5 | - | - | - The "Goodyear Forward" transformation plan contributed **$162 million** in benefits[7](index=7&type=chunk) - Cash outflow from operating activities was **$518 million**, compared to an outflow of **$434 million** in the prior year period[7](index=7&type=chunk) [Business Segment Results](index=3&type=section&id=Business%20Segment%20Results) This section details the financial performance of Goodyear's Americas, EMEA, and Asia Pacific segments, highlighting key drivers and changes in sales, tire volumes, and operating income [AMERICAS Segment](index=3&type=section&id=AMERICAS) The Americas segment achieved significant operating income growth in Q2 2024, driven by the Goodyear Forward plan, favorable price/mix, and insurance recoveries, despite lower sales and replacement tire volumes | Metric | Q2 2024 | Q2 2023 | Change | | :----------------------- | :------------- | :------------- | :--- | | Tire Volume (Million Units) | 19.6 | 20.8 | -5.9% | | Sales (Million USD) | $2,697 | $2,939 | -8.2% | | Segment Operating Income (Million USD) | $241 | $103 | +$138 | | Segment Operating Margin (%) | 8.9% | 3.5% | +5.4pp | - Original equipment tire volume increased by **6.7%** year-over-year[10](index=10&type=chunk) - Replacement tire volume decreased by **8.6%**, impacted by the US industry decline, Latin America distribution changes, and Brazil floods[10](index=10&type=chunk) - Segment operating income growth was primarily due to the Goodyear Forward plan, favorable net price/mix versus raw material costs, the negative impact of the 2023 Tupelo storm, and lower transportation costs[11](index=11&type=chunk) [EMEA Segment](index=3&type=section&id=EMEA) The EMEA segment returned to profitability in Q2 2024, with operating income turning positive, attributed to favorable net price/mix, insurance recoveries related to the Poland factory fire, and the Goodyear Forward plan | Metric | Q2 2024 | Q2 2023 | Change | | :----------------------- | :------------- | :------------- | :--- | | Tire Volume (Million Units) | 11.6 | 11.8 | -0.9% | | Sales (Million USD) | $1,279 | $1,341 | -4.6% | | Segment Operating Income (Million USD) | $35 | $(19) | +$54 | | Segment Operating Margin (%) | 2.7% | -1.4% | +4.1pp | - Sales decrease was primarily due to negative foreign exchange rates[12](index=12&type=chunk) - Segment operating income included **$43 million** in insurance recoveries, mainly related to the Debica, Poland factory fire[13](index=13&type=chunk) [ASIA PACIFIC Segment](index=4&type=section&id=ASIA%20PACIFIC) The Asia Pacific segment experienced growth in sales and operating income in Q2 2024, driven by increased original equipment tire volume, favorable price/mix, and the Goodyear Forward plan | Metric | Q2 2024 | Q2 2023 | Change | | :----------------------- | :------------- | :------------- | :--- | | Tire Volume (Million Units) | 8.9 | 8.2 | +7.8% | | Sales (Million USD) | $594 | $587 | +1.2% | | Segment Operating Income (Million USD) | $63 | $40 | +$23 | | Segment Operating Margin (%) | 10.6% | 6.8% | +3.8pp | - Original equipment tire volume increased by **32.2%**, primarily driven by China EV fitments[14](index=14&type=chunk) - Replacement tire volume decreased by **8.9%**, reflecting the impact of Australia transformation and a weaker China industry[14](index=14&type=chunk) [Company Overview & Outlook](index=4&type=section&id=Company%20Overview%20%26%20Outlook) This section provides an overview of Goodyear's global operations, management's commentary on recent performance and future expectations, and details regarding the upcoming investor conference call [About Goodyear](index=4&type=section&id=About%20Goodyear) Goodyear is one of the world's largest tire companies, with 54 plants in 21 countries and approximately 71,000 employees, dedicated to developing industry-leading products and services - One of the world's largest tire companies, with approximately **71,000 employees** and **54 plants** in **21 countries**[17](index=17&type=chunk) - Innovation centers in Akron, Ohio, and Colmar-Berg, Luxembourg, are dedicated to developing state-of-the-art products and services[17](index=17&type=chunk) [Management Commentary & Outlook](index=1&type=section&id=Management%20Commentary%20%26%20Outlook) CEO Mark Stewart highlighted significant progress on the Goodyear Forward plan in Q2, including margin expansion and the off-the-road tire business sale agreement, expressing confidence in achieving the 10% segment operating margin target - CEO Mark Stewart noted significant progress on the Goodyear Forward plan in Q2, achieving substantial margin expansion and reaching a definitive agreement to sell the off-the-road tire business[3](index=3&type=chunk) - The second half of the year is expected to be impacted by potentially weaker industry trends[3](index=3&type=chunk) - Management is confident in achieving the **10%** segment operating margin target by the end of next year[3](index=3&type=chunk) [Conference Call Information](index=4&type=section&id=Conference%20Call) Goodyear will host an investor conference call on Thursday, August 1, 2024, at 8:00 AM ET, led by CEO Mark W. Stewart and CFO Christina L. Zamarro, to discuss Q2 results and the Goodyear Forward plan - The conference call will be held on **Thursday, August 1, 2024, at 8:00 AM ET**[16](index=16&type=chunk) - Speakers include CEO and President Mark W. Stewart and Executive Vice President and CFO Christina L. Zamarro[16](index=16&type=chunk) - Investors can access the conference via the company's investor relations website or by phone[16](index=16&type=chunk) [Non-GAAP Financial Measures](index=5&type=section&id=Non-GAAP%20Financial%20Measures) This section provides explanations and cautionary statements regarding Goodyear's use of non-GAAP financial measures and forward-looking statements [Explanation of Non-GAAP Financial Measures](index=5&type=section&id=Explanation%20of%20Non-GAAP%20Financial%20Measures) This section explains non-GAAP financial measures, including total segment operating income and margin, adjusted net income (loss), and adjusted diluted EPS, providing additional insight by excluding non-core or non-recurring items - Non-GAAP financial measures include total segment operating income and margin, adjusted net income (loss), and adjusted diluted earnings per share[19](index=19&type=chunk) - Total segment operating income and margin represent the aggregate earnings value created by the company's strategic business units (SBUs) and exclude items not directly related to SBU performance assessment[20](index=20&type=chunk) - Adjusted net income (loss) and adjusted diluted earnings per share exclude the impact of restructuring, asset write-offs, accelerated depreciation, asset sales, and other significant items[22](index=22&type=chunk) - Investors are cautioned that other companies may calculate similarly titled non-GAAP financial measures differently, making them potentially non-comparable[23](index=23&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section contains cautionary statements regarding forward-looking statements, noting that actual results may differ materially due to factors such as the Goodyear Forward plan implementation, off-the-road tire business sale risks, raw material costs, inflation, supply chain disruptions, and economic downturns - Certain information in the press release constitutes forward-looking statements, protected by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995[18](index=18&type=chunk) - Factors affecting the company's operations, performance, business strategy, and results include, but are not limited to: successful implementation of the Goodyear Forward plan, risks related to the off-the-road tire business sale, rising raw material and energy costs, inflationary cost pressures, supply chain disruptions, economic downturns or uncertainties, labor strikes, financial difficulties of suppliers or customers, changes in tariffs and trade agreements, foreign exchange risks, defaults on debt obligations, litigation, and general market, economic, or political condition changes[18](index=18&type=chunk) - The company expressly disclaims any obligation to update forward-looking statements in the future[18](index=18&type=chunk) [Financial Tables](index=7&type=section&id=Financial%20Tables) This section presents Goodyear's consolidated financial statements, including statements of operations, balance sheets, cash flows, and reconciliations of non-GAAP measures, for the specified periods [Table 1: Consolidated Statement of Operations](index=7&type=section&id=Table%201%3A%20Consolidated%20Statement%20of%20Operations) This table presents the consolidated statement of operations for Goodyear and its subsidiaries, covering key financial data including revenue, costs, expenses, and net income (loss) for the three and six months ended June 30, 2024 and 2023 | (Million USD, except per share amounts) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | Net Sales | $4,570 | $4,867 | $9,107 | $9,808 | | Cost of Goods Sold | 3,622 | 4,123 | 7,337 | 8,316 | | Selling, Administrative and General Expenses | 731 | 708 | 1,427 | 1,372 | | Restructuring Charges | 19 | 72 | 41 | 104 | | Interest Expense | 130 | 138 | 256 | 265 | | Other (Income) Expense | (72) | 36 | (42) | 61 | | Income (Loss) Before Income Taxes | 140 | (210) | 88 | (310) | | Income Tax Expense (Benefit) | 60 | (2) | 66 | (3) | | Net Income (Loss) | 80 | (208) | 22 | (307) | | Less: Net Income (Loss) Attributable to Noncontrolling Interests | (5) | — | (6) | 2 | | Net Income (Loss) Attributable to Goodyear | $85 | $(208) | $28 | $(309) | | Net Income (Loss) Attributable to Goodyear—Per Common Share | | | | | | Basic | $0.30 | $(0.73) | $0.10 | $(1.08) | | Diluted | $0.30 | $(0.73) | $0.10 | $(1.08) | [Table 2: Consolidated Balance Sheets](index=8&type=section&id=Table%202%3A%20Consolidated%20Balance%20Sheets) This table provides the consolidated balance sheets for Goodyear and its subsidiaries as of June 30, 2024, and December 31, 2023, detailing the composition of assets, liabilities, and shareholders' equity | (Million USD, except share data) | June 30, 2024 | December 31, 2023 | | :------------------------------- | :------------ | :---------------- | | **Assets:** | | | | Cash and Cash Equivalents | $789 | $902 | | Accounts Receivable, Net | 3,043 | 2,731 | | Inventories | 4,048 | 3,698 | | Total Current Assets | 8,204 | 7,650 | | Goodwill | 779 | 781 | | Intangible Assets | 947 | 969 | | Deferred Income Taxes | 1,634 | 1,630 | | Property, Plant and Equipment, Net | 8,375 | 8,492 | | **Total Assets** | **$22,025** | **$21,582** | | **Liabilities:** | | | | Accounts Payable—Trade | $4,181 | $4,326 | | Short-Term Debt and Overdrafts | 462 | 344 | | Long-Term Debt and Finance Leases Due Within One Year | 1,182 | 449 | | Total Current Liabilities | 7,709 | 7,147 | | Long-Term Debt and Finance Leases | 6,832 | 6,831 | | **Total Liabilities** | **17,170** | **16,745** | | **Shareholders' Equity:** | | | | Goodyear Shareholders' Equity | 4,703 | 4,668 | | Noncontrolling Interests | 152 | 169 | | **Total Shareholders' Equity** | **4,855** | **4,837** | | **Total Liabilities and Shareholders' Equity** | **$22,025** | **$21,582** | [Table 3: Consolidated Statements of Cash Flows](index=9&type=section&id=Table%203%3A%20Consolidated%20Statements%20of%20Cash%20Flows) This table presents the consolidated statements of cash flows for Goodyear and its subsidiaries for the six months ended June 30, 2024 and 2023, detailing cash flows from operating, investing, and financing activities | (Million USD) | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :----------- | :------------------------------- | :------------------------------- | | Net Cash Provided by (Used in) Operating Activities | $(518) | $(434) | | Net Cash Provided by (Used in) Investing Activities | $(488) | $(645) | | Net Cash Provided by (Used in) Financing Activities | $896 | $876 | | Effect of Exchange Rate Changes | $(23) | $4 | | Net Change in Cash, Cash Equivalents and Restricted Cash | $(133) | $(199) | | Cash, Cash Equivalents and Restricted Cash at End of Period | $852 | $1,112 | [Table 4: Reconciliation of Segment Operating Income & Margin](index=10&type=section&id=Table%204%3A%20Reconciliation%20of%20Segment%20Operating%20Income%20%26%20Margin) This table provides a reconciliation of Goodyear's total segment operating income to income (loss) before income taxes and net income (loss) attributable to Goodyear, along with total segment operating margin and return on net sales | (Million USD) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :----------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | Total Segment Operating Income | $339 | $124 | $586 | $249 | | Net Sales | $4,570 | $4,867 | $9,107 | $9,808 | | Return on Net Sales | 1.9% | -4.3% | 0.3% | -3.2% | | Total Segment Operating Margin | 7.4% | 2.5% | 6.4% | 2.5% | [Table 5: Reconciliation of Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share](index=11&type=section&id=Table%205%3A%20Reconciliation%20of%20Adjusted%20Net%20Income%20%28Loss%29%20and%20Adjusted%20Diluted%20Earnings%20Per%20Share) This table details the reconciliation from GAAP net income (loss) to adjusted net income (loss) and adjusted diluted EPS for Goodyear during Q2 and H1 2024 and 2023, breaking down the impact of various adjustments **Second Quarter 2024** | (Million USD, except per share amounts) | Reported | Restructuring, Asset Write-offs, Accelerated Depreciation and Leases | Goodyear Forward Costs | South Africa Flood Impact | Americas Storm Insurance Recoveries | Debica Fire Impact and Insurance Recoveries | Asset and Other Sales | Adjusted | | :------------------------------------ | :----- | :------------------------------------------------- | :------------------- | :---------------- | :-------------------------- | :---------------------------------------- | :-------------------- | :----- | | Net Income (Loss) Attributable to Goodyear | $85 | $49 | $30 | $3 | $(15) | $(30) | $(68) | $54 | | Earnings Per Share | $0.30 | $0.17 | $0.10 | $0.01 | $(0.06) | $(0.10) | $(0.23) | $0.19 | **Second Quarter 2023** | (Million USD, except per share amounts) | Reported | Restructuring, Asset Write-offs and Accelerated Depreciation | Tupelo Storm Impact | Asset and Other Sales | Pension Settlement Charges | Environmental Remediation Adjustments | Legal Claims | Indirect Tax and Tax Settlements | Adjusted | | :------------------------------------ | :----- | :------------------------------------------------- | :------------------ | :-------------------- | :------------------------- | :------------------------------------ | :----------- | :------------------------------- | :----- | | Net Income (Loss) Attributable to Goodyear | $(208) | $68 | $52 | $(37) | $28 | $(4) | $2 | $2 | $(97) | | Earnings Per Share | $(0.73) | $0.24 | $0.18 | $(0.13) | $0.10 | $(0.02) | $0.01 | $0.01 | $(0.34) | **First Half 2024** | (Million USD, except per share amounts) | Reported | Restructuring, Asset Write-offs, Accelerated Depreciation and Leases | Goodyear Forward Costs | South Africa Flood Impact | Pension Settlement Charges (Credit) | Indirect Tax and Tax Settlements | Americas Storm Insurance Recoveries | Debica Fire Impact and Insurance Recoveries | Other | Asset and Other Sales | Adjusted | | :------------------------------------ | :----- | :------------------------------------------------- | :------------------- | :---------------- | :---------------------------------- | :------------------------------- | :-------------------------- | :---------------------------------------- | :---- | :-------------------- | :----- | | Net Income (Loss) Attributable to Goodyear | $28 | $107 | $51 | $3 | $(4) | $(8) | $(15) | $(19) | $(60) | $83 | $83 | | Earnings Per Share | $0.10 | $0.37 | $0.18 | $0.01 | $(0.01) | $(0.03) | $(0.06) | $(0.06) | $(0.21) | $0.29 | $0.29 | **First Half 2023** | (Million USD, except per share amounts) | Reported | Restructuring, Asset Write-offs and Accelerated Depreciation | Tupelo Storm Impact | Asset and Other Sales | Pension Settlement Charges | Foreign Currency Translation Adjustment Reversal | Environmental Remediation Adjustments | Indirect Tax and Tax Settlements | Adjusted | | :------------------------------------ | :----- | :------------------------------------------------- | :------------------ | :-------------------- | :------------------------- | :--------------------------------------------- | :------------------------------------ | :------------------------------- | :----- | | Net Income (Loss) Attributable to Goodyear | $(309) | $94 | $52 | $(37) | $28 | $(5) | $(4) | $2 | $(179) | | Earnings Per Share | $(1.08) | $0.33 | $0.18 | $(0.13) | $0.10 | $(0.02) | $(0.02) | $0.01 | $(0.63) |

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 2023Americas 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 transformation initiatives delivered $90 millionAKRON, Ohio, July 31, 2024 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NAS ...

AKRON, Ohio, July 30, 2024 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that Mamatha Chamarthi has been named senior vice president and Chief Digital Officer, and Will Roland has been named senior vice president and Chief Marketing Officer, both reporting to Chief Executive Officer and President Mark Stewart, effective August 1. Goodyear Names Mamatha Chamarthi Chief Digital Officer Goodyear Names Will Roland Chief Marketing Officer "It's imperative that we understand ...