AKRON, Ohio, Oct. 28, 2024 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) will report third quarter 2024 financial results after market close on Monday, November 4, followed by an investor conference call at 8:30 a.m. ET on Tuesday, November 5.The Company will publish its results on November 4, in the form of an Earnings Release and an additional presentation on its investor relations website: http://investor.goodyear.com. The following morning, the Company will host an investor call.The in ...

GT Resources Intersects 2.12% Nickel Over 20 meters at the Canalask Nickel-Copper ProjectSeptember 24, 2024 9:29 AM EDT | Source: GT Resources Inc.Toronto, Ontario--(Newsfile Corp. - September 24, 2024) - GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) (the "Company" or "GT Resources") is pleased to announce initial diamond drill assay results from the 2024 exploration campaign at the Canalask Nickel-Copper Project, Yukon, Canada.A total of five holes were drilled, totalling 1,010 meter ...

A month has gone by since the last earnings report for Goodyear (GT) . Shares have lost about 11.8% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Goodyear due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Goodyear Q2 Earnings Beat EstimatesGoodyear reported second ...

Shares of The Goodyear Tire & Rubber Company (GT) , one of the largest tire manufacturing companies in the world, have plunged 38.8% year to date to close at $8.76 on Monday. Shares of GT’s competitors Bridgestone Corp (BRDCY) and Michelin (MGDDY) are down 5.1% and up 10.2%, respectively.Goodyear YTD Price Comparison with CompetitorsImage Source: Zacks Investment ResearchWeaker commercial truck business, high debt level and substantial amounts of investment and capital spending are believed to be the primar ...

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' ...