Core Viewpoint - GT Resources Inc. has announced promising initial diamond drill assay results from its 2024 exploration campaign at the Canalask Nickel-Copper Project, indicating significant nickel and precious metal mineralization [2][3]. Exploration Results - The drilling campaign involved five holes totaling 1,010 meters, with Hole CSK-24-02 intersecting 2.12% nickel over 19.9 meters, which is significantly higher than the historical Footwall Resource Estimate grade of 1.3% [2][3]. - The assay results also revealed 0.03% copper, 0.03% cobalt, 0.19 g/t gold, and 0.37 g/t palladium within the same interval [2][3]. - Notably, a high-grade interval of 4.45% nickel was found over 1.3 meters within the same hole [2][3]. Geological Insights - The drilling targeted the high-grade Footwall Zone, and the property size was expanded to capture potential down-dip extensions of known mineralization, with 11 new claims staked covering approximately 200 hectares [3]. - The presence of footwall-hosted nickel sulphide suggests a larger accumulation of nickel-sulphide may exist within the adjacent Kluane Ultramafic Feeder Dyke [3][17]. Challenges and Future Plans - Drilling in the ultramafic rocks encountered challenging ground conditions, necessitating different techniques for future drilling campaigns [4][12]. - The next drilling efforts will focus on tracing a physical connection between the Footwall Style mineralization and the prospective basal gabbro unit [13][17]. Historical Context - The historical resource estimate for the Canalask project is quoted at 400,000 tonnes at 1.35% nickel, with no copper reported, from a study conducted by Discovery Mines Ltd. in 1968 [5]. Company Overview - GT Resources Inc. is focused on discovering and producing critical Green Transportation Metals, including nickel, copper, palladium, platinum, and cobalt, with projects in Canada and Finland [21][22].

Core Viewpoint - Goodyear's recent earnings report shows mixed results, with adjusted earnings per share beating estimates but revenues declining, leading to concerns about future performance [2][6]. Financial Performance - Goodyear reported Q2 2024 adjusted EPS of 19 cents, exceeding the Zacks Consensus Estimate of 9 cents, compared to a loss of 34 cents in the same quarter last year [2]. - Net revenues for the quarter were $4.57 billion, down 6.1% year-over-year, missing the Zacks Consensus Estimate of $4.79 billion due to lower replacement volume [2]. - Tire volume decreased to 40.1 million units, a decline of 1.7% from the previous year [2]. Segmental Performance - The Americas segment generated revenues of $2.69 billion, an 8.2% decline year-over-year, missing estimates due to lower replacement volume and unfavorable price/mix, but operating income surged 134% to $241 million [3]. - The Europe, Middle East, and Africa segment's revenues were $1.28 billion, down 4.6% year-over-year, also missing estimates, while operating income rose 284.2% to $35 million [3]. - The Asia Pacific segment saw a 1.2% increase in revenues to $594 million, but it still missed estimates; operating profit increased 57.5% to $63 million [4]. Financial Position - Selling, general & administrative expenses increased to $731 million from $708 million year-over-year [5]. - Cash and cash equivalents decreased to $789 million as of June 30, 2024, down from $902 million at the end of 2023 [5]. - Long-term debt remained stable at $6.83 billion, while capital expenditures rose to $634 million from $536 million in the previous year [5]. Updated Outlook - The company expects a benefit of $260 million on raw material costs in 2024, revised down from a previous estimate of $325-$350 million [6]. - Capital expenditures are now projected at $1.25 billion, slightly up from the previous estimate [6]. - Interest expenses are estimated between $510 million and $530 million, down from the earlier range [6]. Estimate Trends - There has been a downward trend in estimates, with the consensus estimate shifting down by 31.87% [7]. - Goodyear currently holds a Zacks Rank 4 (Sell), indicating expectations of below-average returns in the coming months [9]. VGM Scores - Goodyear has a strong Growth Score of A but lags in Momentum Score with an F; it holds an aggregate VGM Score of A, placing it in the top quintile for value strategy [8].

Core Viewpoint - Goodyear Tire & Rubber Company's stock has significantly declined by 38.8% year to date, closing at $8.76, while its competitors have shown mixed performance [1][3]. Group 1: Financial Performance - Goodyear's long-term debt and finance leases increased slightly to $6,832 million as of June 30, 2024, compared to $6,831 million at the end of 2023, resulting in a long-term debt-to-capital ratio of 0.58, which is higher than the auto sector's average of 0.34 [6][9]. - The company's capital expenditure (Capex) for 2024 is projected to be around $1.25 billion, an increase from $1.05 billion in 2023, primarily due to investments in advanced tire technology and brownfield expansions [7][9]. - Sales in the commercial truck business totaled $9.11 billion in the first half of 2024, reflecting a 7.1% decline from the previous year, attributed to weak industry conditions [7][9]. Group 2: Market Conditions - The stock is currently trading below its 50-day moving average, indicating a potential downtrend or weakness in price [3]. - The Zacks Consensus Estimate for Goodyear's 2024 EPS suggests a year-over-year decline of 3.83%, with recent estimates for 2024 and 2025 also being revised downward [8][9]. Group 3: Challenges - High levels of debt are limiting Goodyear's financial flexibility, which is compounded by the need for substantial capital investments to keep up with technological advancements [6][9]. - Ongoing inflation remains a concern, with non-raw material inflation and other costs expected to be approximately $60 million higher in Q3 2024 compared to the same period last year [7][9]. - The weak performance in the commercial truck sector is likely to hinder Goodyear's top-line growth in the latter half of the year [7][9].

Goodyear tested the new Assurance WeatherReady® 2 against similar competitor products, including the Michelin CrossClimate2, Bridgestone WeatherPeak, and Pirelli Scorpion WeatherActive. In head-to-head comparisons1, the Assurance WeatherReady® 2's premium performance came in first when testing for wet handling, wet braking and dry handling - establishing it as the ideal choice for an all-weather solution and setting a new standard for all-season tires.Featuring Goodyear's innovative All-Weather Technology, ...

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). Despite being the largest tire manufacturer in the United States, the company continues to suffer from sales declines. Shares toppled nearly 40% following the earnings report, posting weaker-than-expected revenues for the second quarter of 2024.Get Goodyear Tire & Rubber alerts:Macroeconomic and Industry Pressures Weigh on Goodyear's Prospec ...

Shares of Goodyear Tire (GT) plunged 33.5% since the company reported second-quarter 2024 results. It reported second-quarter 2024 adjusted earnings per share (EPS) of 19 cents, surpassing the Zacks Consensus Estimate of 9 cents. The company had incurred a loss of 34 cents in the year-ago quarter.The company generated net revenues of $4.57 billion, which declined 6.1% on a year-over-year basis and missed the Zacks Consensus Estimate of $4.79 billion due to lower replacement volume.In the reported quarter, t ...

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 ...