Core Insights - Five stocks have been added to the Zacks Rank 1 (Strong Buy) List, indicating strong potential for investment [1] Company Summaries - **Powell Industries, Inc. (POWL)**: The Zacks Consensus Estimate for its current year earnings has increased by 35.1% over the last 60 days [1] - **The Goodyear Tire & Rubber Company (GT)**: The Zacks Consensus Estimate for its current year earnings has increased by 40% over the last 60 days [1] - **Zuora, Inc. (ZUO)**: The Zacks Consensus Estimate for its current year earnings has increased by 23.8% over the last 60 days [1] - **GitLab Inc. (GTLB)**: The Zacks Consensus Estimate for its current year earnings has increased by 285.7% over the last 60 days [1] - **Snap Inc. (SNAP)**: The Zacks Consensus Estimate for its current year earnings has increased by 20% over the last 60 days [1]

Group 1: Goodyear Tire & Rubber Company (GT) - Goodyear Tire & Rubber Company has a Zacks Rank of 1, indicating strong performance potential [1] - The Zacks Consensus Estimate for its current year earnings has increased by 40% over the last 60 days [1] - The company has a price-to-earnings ratio (P/E) of 8.91, significantly lower than the industry average of 73.90, and possesses a Value Score of A [1] Group 2: Powell Industries, Inc. (POWL) - Powell Industries, Inc. also carries a Zacks Rank of 1, suggesting favorable investment conditions [1] - The Zacks Consensus Estimate for its next year earnings has risen by 35.1% over the last 60 days [1] - The company has a P/E ratio of 15.34, which is lower than the industry average of 17.30, and holds a Value Score of A [1] Group 3: Ingredion Incorporated (INGR) - Ingredion Incorporated has a Zacks Rank of 1, reflecting strong investment potential [2] - The Zacks Consensus Estimate for its next year earnings has increased by 1.2% over the last 60 days [2] - The company has a P/E ratio of 11.28, slightly below the industry average of 11.60, and maintains a Value Score of A [2]

Leadership Transition - Mark Stewart has been elected as the new Chief Executive Officer and President of Goodyear, effective January 29, 2024, succeeding Richard J. Kramer, who is retiring after 24 years with the company, including 14 years as CEO [1][5] - Laurette T. Koellner, who has been the Independent Lead Director since 2019, will become the non-executive Board Chair on the same date [1] Mark Stewart's Background - Stewart previously served as Chief Operating Officer of North America at Stellantis, leading a business unit with over 88,000 employees and more than $90 billion in revenue, and was instrumental in the region's electric vehicle transformation [2] - He has extensive experience in operations management, having held significant roles at Amazon and ZF TRW Automotive, overseeing diverse manufacturing and fulfillment operations globally [3][4][7] Strategic Vision - The Board of Directors expressed confidence in Stewart's ability to lead Goodyear, emphasizing his track record in driving innovation and operational excellence [5] - Stewart highlighted Goodyear's potential for growth and the importance of the "Goodyear Forward" strategy in unlocking the company's full potential [5] Richard J. Kramer's Legacy - Kramer is recognized for his unwavering dedication to Goodyear and for advancing the company's business models and competitive advantages during his tenure [5][6] - He will continue to serve in an advisory capacity to ensure a smooth transition [6] Company Overview - Goodyear is one of the largest tire companies globally, employing approximately 74,000 people and operating 57 facilities across 23 countries [10] - The company has two Innovation Centers located in Akron, Ohio, and Colmar-Berg, Luxembourg, focused on developing advanced products and services [10]

High-end tire technology is useful for electric vehicles, and helps enable self-driving cars, too. ...

Integration of Goodyear SightLine and ZF cubiX explores new safety features and enhanced driving dynamicsCollaboration named a CES 2024 Innovation Award HonoreeAKRON, Ohio and FRIEDRICHSHAFEN, Germany, Jan. 9, 2024 /PRNewswire/ -- The Goodyear Tire & Rubber Company, a global leader in connected mobility, and ZF, a global leader in vehicle systems and industrial technology, announced successful integration of tire intelligence technologies with vehicle motion control software. At CES 2024, Goodyear and ZF ...

The two companies aim to develop a collection of sensors and related technologies for use in vehicles and tire applicationsAKRON, Ohio, Jan. 9, 2024 /PRNewswire/ -- TDK Corporation (TSE 6762) and The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced a collaboration to advance next-generation tire solutions with the goal of accelerating the development and adoption of integrated intelligent hardware and software into tires and vehicle ecosystems.Together, the organizations plan to bring a robust ti ...

The Goodyear Tire & Rubber Company (NASDAQ:GT) Q3 2023 Earnings Conference Call November 7, 2023 8:30 AM ET Company Participants Richard Kramer - Chairman and CEO Christina Zamarro - CFO Conference Call Participants Rod Lache - Wolfe Research James Picariello - BNP Paribas Operator Good morning. My name is Nicky, and I will be your conference operator today. At this time, I would like to welcome everyone to Goodyear's Third Quarter 2023 Earnings Call. All lines have been placed on mute to prevent any backgr ...

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 September 30, 2023 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 (I.R.S. Employer Incorporation or Organization) Identification No.) 200 Innovation Way, Akron, Ohio 44316-0001 (Address of ...

Financial Data and Key Metrics Changes - The company experienced a significant decline in volume, with truck unit volume down 600,000 units in Q2, and expected to decrease by 200,000 to 300,000 units in Q3 [10][11] - The company anticipates slightly positive free cash flow for the year, albeit less than previously expected, with cash proceeds from sale leaseback transactions estimated at $150 million to $200 million [22][23] - The company reported a 30% increase in raw material costs over the past year, with expectations of tailwinds in the second half of the year [15][26] Business Line Data and Key Metrics Changes - The commercial truck segment saw a significant impact from destocking, with a $60 million decline in mix in Q2, which is expected to decline further in Q3 [7][10] - The OE business in both the U.S. and Europe showed positive trends, with a win rate of around 60% for new models, particularly in the EV segment [18][19] - The company noted a decline in consumer replacement volume, with a 12% drop in Europe and a 21% drop in the U.S. truck market [26][38] Market Data and Key Metrics Changes - The European market for consumer replacement tires was down 12% in Q2, following a 13% decline in Q1, indicating a challenging environment [26][40] - The company observed a significant drop in freight rates, down 25% in June, leading to immediate destocking by distributors [10][38] - The Americas and Asia Pacific markets are expected to show strong recovery, with both regions projected to meet or exceed the 8% SOI margin target in Q4 [24][25] Company Strategy and Development Direction - The company is undergoing a strategic review to improve margins and reduce leverage, with a focus on operational and strategic options [30][31] - The company is committed to addressing its cost structure in Europe, where it has faced significant challenges, and is exploring options to enhance operational efficiency [27][46] - The company aims to leverage its technology in the European market, despite the high-cost footprint and challenging economic conditions [46] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the unexpected decline in the truck replacement market and the overall industry environment in Europe, which was worse than anticipated [37][41] - The company remains optimistic about the pricing environment, stating that revenue per tire is holding well despite raw material cost fluctuations [14][15] - Management emphasized the need for volume recovery in Europe to return to a $50 million run rate per quarter [26][41] Other Important Information - The company is focusing on improving its operational efficiency across various facets, including R&D, supply chain, and manufacturing productivity [33][34] - The company is assessing its portfolio of assets and brands to determine long-term strategic value and potential monetization opportunities [34] Q&A Session Summary Question: What are the expectations for the third quarter and full year? - Management discussed the impact of destocking and volume weakness, with expectations of approximately $300 million SOI in Q3 and a slight positive free cash flow for the year [5][22] Question: How is the pricing environment in the U.S. and Europe? - Management indicated that pricing remains stable due to higher raw material and inflationary costs, with confidence in maintaining prices despite market fluctuations [13][14] Question: What are the thoughts on the OE business for model year '24? - Management expressed confidence in the OE business, particularly with EVs, and noted a strong win rate with OEMs [17][19] Question: What is the outlook for free cash flow? - Management expects slightly positive free cash flow for the year, with a focus on generating cash through various initiatives [20][22] Question: What are the strategic options being considered? - Management stated that all options are on the table for strategic review, including potential asset sales and operational improvements [29][31]

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, 2023 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 (I.R.S. Employer Incorporation or Organization) Identification No.) 200 Innovation Way, Akron, Ohio 44316-0001 (Address of Princ ...