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 ...

The Goodyear Tire & Rubber Company (NASDAQ:GT) Q1 2023 Earnings Conference Call May 5, 2023 8:00 AM ET Company Participants Richard Kramer - Chairman, President and Chief Executive Officer Christina Zamarro - Executive Vice President and Chief Financial Officer Conference Call Participants Ryan Brinkman - JPMorgan Rod Lache - Wolfe Research, LLC. James Picariello - BNP Paribas John Healy - Northcoast Research Emmanuel Rosner - Deutsche Bank Anindya Das - Nomura Operator Good morning. My name is Nicky, and I ...

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 March 31, 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 Prin ...

Financial Performance - Goodyear's net sales for 2022 were $20,805 million, with a net income of $202 million[12]. - The company recorded tire unit sales of 184.5 million in 2022, an increase from 169.3 million in 2021[18]. - Sales to OE customers accounted for approximately 15% of net sales in 2022, with demand being sensitive to automotive production levels[77]. - As of December 31, 2022, the company's consolidated debt, including finance leases, was approximately $7.9 billion[87]. - Goodyear's liquidity position may deteriorate if the COVID-19 pandemic worsens, affecting cash flows from operating activities[59]. Tire Sales and Segments - Tire unit sales in 2022 reached 184.5 million, an increase from 169.3 million in 2021[18]. - The Americas segment accounted for 95.0 million tire units sold in 2022, up from 85.9 million in 2021[23]. - EMEA segment tire unit sales totaled 55.1 million in 2022, compared to 52.7 million in 2021[28]. - In 2022, Asia Pacific segment sold 20.4 million replacement tire units, up from 19.8 million in 2021, and 14.0 million OE tire units, up from 10.9 million in 2021, totaling 34.4 million tire units sold[33]. - Replacement tire units sold in 2022 totaled 143.9 million, up from 134.1 million in 2021[19]. New Products and Innovations - New consumer tires launched in 2022 included Goodyear Wrangler Workhorse HT and Mastercraft Courser Quest[21]. - EMEA launched new tires such as the Goodyear Eagle F1 Asymmetric 6 and the Goodyear Ultra Grip Arctic 2 SUV in 2022[26]. - Goodyear launched the Goodyear ElectricDrive tire in 2022, targeting the growing electric vehicle market[31]. - Goodyear's new tire demonstration made with 90% sustainable materials was announced in early 2023, marking progress towards a 100% sustainable-material tire by 2030[43]. Acquisitions and Integration - Goodyear completed the acquisition of Cooper Tire for approximately $3.1 billion, with results included in consolidated financial statements since June 2021[13]. - Goodyear is on track to achieve expected synergies from the Cooper Tire acquisition, with integration efforts continuing into the first half of 2023[56]. Environmental and Sustainability Goals - The company aims to achieve net-zero scope 1 and 2 greenhouse gas emissions by 2050 and reduce scope 1 and 2 emissions by 46% by 2030 compared to 2019 levels[42]. - Goodyear achieved its goal of procuring 100% renewable electricity across all facilities in Europe and Turkey by the end of 2022[43]. - The company plans to invest approximately $60 million in pollution control facilities and occupational safety projects for both 2023 and 2024[40]. Operational Challenges - The ongoing COVID-19 pandemic has caused significant volatility in the tire industry, impacting production levels and demand for replacement tires[57]. - Goodyear continues to face inflationary cost pressures due to increased demand for consumer products and supply chain disruptions[34]. - The company has experienced capacity constraints in producing higher margin tires, particularly in the U.S., which could limit growth opportunities[61]. - The ongoing conflict in Ukraine has led to increased costs for raw materials and energy, impacting the company's financial condition[75]. Competition and Market Position - Goodyear's tire sales are primarily competitive based on product design, performance, and price, with major competitors including Bridgestone and Michelin[19]. - The company faces significant competition from major tire manufacturers, including Continental, Hankook, and Pirelli, which may increase production capacity in low-cost countries, potentially affecting market share[64]. - Goodyear's manufacturing footprint is considered less cost-competitive compared to major competitors, necessitating strategic adjustments[61]. Labor and Workforce - The company employs approximately 74,000 associates globally, with about 42,000 covered under collective bargaining agreements[36]. - Approximately 21,000 associates outside the U.S. are covered by union contracts that are set to expire in 2023, indicating potential labor-related challenges[37]. - The new Goodyear agreement with the USW covers approximately 5,700 associates in the U.S. and expires in July 2026[69]. Regulatory and Compliance Risks - The company is subject to extensive government regulations, which may increase production costs and affect operating results[102]. - Compliance with environmental laws may require significant future expenditures, impacting the company's financial condition and operational capabilities[85]. - Changes in tariffs and trade agreements could reduce the company's flexibility in utilizing its global manufacturing footprint, potentially impacting financial performance[98]. Financial Management and Risks - The company has approximately $1.7 billion of variable rate debt outstanding, exposing it to interest rate risk[93]. - The company is subject to significant operating and financial restrictions under its debt agreements, which may limit its ability to pursue business opportunities[90]. - A decline in brand reputation due to product deficiencies or legal issues could adversely impact demand for the company's products[97].

The Goodyear Tire & Rubber Company (NASDAQ:GT) Q4 2022 Earnings Conference Call February 9, 2023 8:30 AM ET Company Participants Richard Kramer - Chairman, CEO & President Christina Zamarro - CFO Conference Call Participants Emmanuel Rosner - Deutsche Bank Rod Lache - Wolfe Research John Healy - Northcoast Research James Picariello - BNP Paribas Operator Good morning. My name is Ashley, and I will be your conference operator today. At this time, I would like to welcome everyone to Goodyear's Fourth Quarter ...

Goodyear Tire & Rubber Co (NASDAQ:GT) Q3 2022 Earnings Conference Call November 1, 2022 8:00 AM ET Company Participants Richard Kramer - Chairman, CEO & President Darren Wells - EVP & CFO Conference Call Participants Rod Lache - Wolfe Research Emmanuel Rosner - Deutsche Bank James Picariello - BNP Itay Michaeli - Citigroup 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 2022 Earnings Call. [Ope ...