Key PointsGoodyear is the nation's largest replacement tire company, benefitting from the electric vehicle (EV) tire tailwind.EVs tend to wear out tires 5X faster than gas-powered cars, usually requiring replacements from 10,000 to 30,000 miles compared to 55,000 to 75,000 miles for gas-engine vehicles.Goodyear has a new CEO from Stellantis and is considering selling or spinning off three non-core assets, including its chemical, Dunlop, and off-the-road segments.5 stocks we like better than Goodyear Tire & ...

Company Announcement - Goodyear Tire & Rubber Company has appointed Greg Shank as the senior director of Investor Relations, reporting to Christina Zamarro, the executive vice president and Chief Financial Officer [1] - Christina Zamarro highlighted Greg Shank's deep knowledge of the business and strong communication skills, which will benefit the investment community [1] - Christian Gadzinski, the previous senior director of Investor Relations, will transition to a new role supporting Goodyear's Commercial Tire business in North America [1] Background of Greg Shank - Prior to his new role, Greg Shank served as the director of Financial Planning & Analysis for the Americas business unit and has been with Goodyear since 2008 [2] - Shank has held various finance roles within the Americas, contributing to his extensive experience in the company [2] Company Overview - Goodyear is one of the largest tire companies globally, employing approximately 74,000 people and operating 57 manufacturing facilities across 23 countries [3] - The company has two Innovation Centers located in Akron, Ohio, and Colmar-Berg, Luxembourg, focused on developing advanced products and services that set industry standards [3]

"The GP-3E is a tough, all-purpose tire for job sites with challenging environments that need versatility and traction," said Loic Ravasio, general manager, Goodyear Global & Americas OTR. "The innovative, lightweight design of the GP-3E tire helps drive efficiency and an optimized cost per hour for the job at hand." The GP-3E is equipped with the following features and benefits: New tread design balances traction and treadwear for a variety of applications. Multiple steel belt construction optimizes uptim ...

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Goodyear (GT) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing ...

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 ...