The Goodyear Tire & Rubber Company (Goodyear) is a global leader in tire manufacturing, distribution, and sales. The company produces a wide range of tires for various applications, including automobiles, trucks, aircraft, and industrial equipment, and also provides related services such as retreading and automotive maintenance. Goodyear operates through three regional segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific, with a strong presence in both original equipment and replacement tire markets.
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Tires - Manufactures and sells tires for automobiles, trucks, buses, motorcycles, aircraft, and industrial equipment. Includes consumer tires, commercial tires, and specialty tires for off-the-road (OTR) vehicles, mining, and aviation.
- Consumer Tires - Designed for passenger vehicles, motorcycles, and light trucks.
- Commercial Tires - Built for trucks, buses, and heavy-duty vehicles.
- Specialty Tires - Developed for aircraft, mining, and industrial applications.
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Other Tire-Related Sales - Offers retreaded tires, tread rubber, and materials for tire retreading. Includes specialty products such as aviation and race tires.
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Retail Services and Service-Related Sales - Provides automotive maintenance and repair services through company-owned retail outlets, catering to both consumer and commercial customers.
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Chemical Sales - Produces and sells synthetic rubber and other chemicals to third-party customers, contributing a smaller portion of overall sales.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Christina L. Zamarro Executive | Executive Vice President and Chief Financial Officer | None | Christina L. Zamarro is the CFO of GT, confirmed in her role as of February 2025. | |
Christopher P. Helsel Executive | Senior Vice President and Chief Technology Officer | None | Christopher P. Helsel joined GT in 1996 and was named Senior Vice President and CTO on January 13, 2025. | |
Christopher R. Delaney Executive | President, Europe, Middle East and Africa (EMEA) | None | Christopher R. Delaney joined GT in 2015 and has been President, EMEA since September 2017. | |
David E. Phillips Executive | Senior Vice President and General Counsel | None | David E. Phillips joined GT in 2011 and has been Senior Vice President and General Counsel since June 2019. | |
Don Metzelaar Executive | Senior Vice President, Global Manufacturing and Supply Chain | None | Don Metzelaar was appointed to his position on January 13, 2025, with a background in manufacturing and supply chain roles at several global companies. | |
Laura P. Duda Executive | Senior Vice President and Chief Communications Officer | None | Laura P. Duda joined GT in 2016 and became Senior Vice President and Chief Communications Officer in January 2019. | |
Margaret V. Snyder Executive | Vice President and Controller | None | Margaret V. Snyder joined GT in 2020 and became Vice President and Controller on March 31, 2023. | |
Mark W. Stewart Executive | Chief Executive Officer and President | None | Mark W. Stewart has been CEO and President since January 29, 2024. He previously held leadership roles at Stellantis N.V., Amazon, and ZF TRW Automotive. | View Report → |
Nathaniel Madarang Executive | President, Asia Pacific | None | Nathaniel Madarang joined GT in 2008 and became President, Asia Pacific in March 2021. | |
Nicole Gray Executive | Senior Vice President and Chief Human Resources Officer | None | Nicole Gray joined GT in 2016 and became CHRO on July 1, 2024. | |
Ryan Waldron Executive | President, Americas | None | Ryan Waldron joined GT in 2003 and became President, Americas on April 19, 2024. He has held various leadership roles within the company. | |
Laurette T. Koellner Board | Chairman of the Board | Celestica Inc., Papa John’s International, Inc., Nucor Corporation | Laurette T. Koellner has been a Director at GT since 2015 and became Chairman of the Board on January 29, 2024. She holds board positions at Celestica Inc., Papa John’s International, Inc., and Nucor Corporation. |
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Despite the ongoing Goodyear Forward initiatives, your consumer replacement volumes have been declining significantly, with an average 9% drop over the last nine quarters in North America. Can you explain how much of this decline is due to intentional volume loss versus market share loss, and when do you expect volumes to stabilize or improve?
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You've set a net leverage target of 2x to 2.5x by the end of 2025, which is lower than your historical levels and many high-yield companies. What is the rationale behind committing to such a low leverage ratio, and how does this align with your capital allocation and investment strategies?
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The Goodyear Forward program aims for $500 million in annualized savings from footprint and plant optimization by 2025. Could you provide specific details on the plant rationalizations and optimization strategies you're implementing to achieve these savings, and how they might impact your production capacity and workforce?
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Given the significant influx of low-end imports in the U.S. and Europe impacting your replacement tire volumes and market share, what concrete steps are you taking to combat this competitive pressure, and how do you plan to regain share without sacrificing profitability?
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With the planned divestitures, including the sale of the OTR business and the potential sale of the Dunlop brand, how are you balancing the objectives of maximizing proceeds, finding the right strategic fit, and adhering to your timeline? Additionally, how will these asset sales affect your long-term growth and profitability targets?
Research analysts who have asked questions during GOODYEAR TIRE & RUBBER CO /OH/ earnings calls.
Emmanuel Rosner
Wolfe Research
4 questions for GT
James Picariello
BNP Paribas
3 questions for GT
Ryan Brinkman
JPMorgan Chase & Co.
3 questions for GT
Douglas Karson
Bank of America
2 questions for GT
Itay Michaeli
TD Cowen
2 questions for GT
Edison Yu
Deutsche Bank
1 question for GT
Jake Scholl
BNP Paribas
1 question for GT
James Lohan
Deutsche Bank
1 question for GT
James Mulholland
Deutsche Bank
1 question for GT
John Healy
Northcoast Research
1 question for GT
Ross MacDonald
Morgan Stanley
1 question for GT
Wesley Brooks
HSBC
1 question for GT
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Cooper Tire & Rubber Company | 2021 | The acquisition was completed on June 7, 2021 through a merger that provided Cooper Tire stockholders with $41.75 in cash per share and a fixed exchange ratio of 0.907 Goodyear shares, making the total transaction value approximately $3.1 billion. The deal was structured with financing from cash, equivalents, and senior notes, and the acquired operations are now integrated as a wholly owned subsidiary into Goodyear’s consolidated financial statements. |
Recent press releases and 8-K filings for GT.
- Goodyear reported Q3 2025 revenue of $4.6 billion and segment operating income of $287 million, with a net loss of $2.2 billion primarily due to non-cash items, and adjusted earnings per share of $0.28.
- The company completed its planned divestitures, including the chemicals business, resulting in a pro forma debt decline of approximately $1.5 billion in Q3 2025.
- Goodyear Forward initiatives contributed a $185 million benefit in Q3 2025 and are projected to provide $180 million in Q4, with at least $250 million in carryover cost benefits expected for 2026.
- For Q4 2025, the company anticipates a meaningful sequential increase in segment operating income, though global volume is expected to be down about 4%.
- Preliminary 2026 outlook includes a $200 million benefit from raw material costs, an inflation headwind of $200-$225 million, and a reduction in interest expense to approximately $425 million.
- Goodyear reported Net Sales of $4,645 million for Q3 2025, a 3.7% decrease year-over-year, and Segment Operating Income of $287 million, down 17.1% from the prior year. Adjusted Earnings Per Share for the quarter was $0.28.
- The company completed all planned divestitures, including the Chemical business sale, resulting in $2.2 billion in full-year divestiture proceeds. This contributed to a $1.5 billion reduction in total debt compared to the prior year, with pro forma total debt standing at $7,496 million as of September 30, 2025.
- Benefits from the Goodyear Forward plan reached $185 million in Q3 2025, with $580 million in additional Segment Operating Income benefit achieved during the first nine months of 2025. The annualized run rate target for Goodyear Forward benefits was increased to $1.5 billion.
- Free Cash Flow for Q3 2025 was ($181) million, representing an improvement of $159 million compared to Q3 2024.
- Goodyear reported Q3 2025 sales of $4.6 billion, a 3.7% decrease from last year, with a net loss of $2.2 billion primarily due to non-cash, non-recurring items, and adjusted earnings per share of $0.28.
- Segment Operating Income (SOI) for Q3 2025 was $287 million, benefiting from $185 million from the Goodyear Forward program and a $100 million price mix benefit, partly offset by an $81 million raw material headwind and a $90 million headwind from lower tire unit volume and factory utilization.
- The company reduced its debt by approximately $1.5 billion pro forma for the Chemicals transaction and expects to generate significant free cash flow in Q4 2025.
- For 2026, Goodyear anticipates at least $250 million in Goodyear Forward carryover cost benefits, a $200 million benefit from raw materials at current spot rates, and a $100 million benefit from flow-through pricing, while expecting headwinds of $200 million to $225 million from inflation and $150 million to $160 million from tariff carryover costs.
- Market conditions include a decline of over 30% in heavy truck builds in the U.S. and elevated imports, with excess consumer replacement channel inventory expected to clear by the end of Q4 2025, while commercial channel inventory digestion is projected to extend into 2026.
- Goodyear reported Q3 2025 net sales of $4.6 billion and a net loss of $2.2 billion ($7.62 per share), which included significant non-cash charges of a $1.4 billion deferred tax asset valuation allowance and a $674 million goodwill impairment.
- The company's adjusted net income for Q3 2025 was $82 million, with adjusted earnings per share of $0.28.
- On October 31, 2025, Goodyear completed the sale of its Chemical business for a purchase price of $650 million, receiving approximately $580 million in cash proceeds.
- This divestiture completes all planned asset sales under the Goodyear Forward program, with total proceeds from divestitures reaching approximately $2.2 billion, which will be used for debt reduction. The Goodyear Forward plan also delivered $185 million in segment operating income benefits during Q3 2025 and is expected to achieve $1.5 billion in annualized run-rate benefits by year-end 2025.
- Gemspring Capital Management, LLC completed the acquisition of The Goodyear Tire & Rubber Company's polymer chemicals business on November 3, 2025.
- The acquisition includes two manufacturing plants in Houston and Beaumont, Texas, and a research and development facility in Akron, Ohio, while Goodyear retains its chemical facilities in Niagara Falls, New York, and Bayport, Texas.
- The Polymer Chemical Business, headquartered in Ohio, is a leading producer of synthetic rubber serving diverse end markets.
- Gemspring intends to expand the Company's offering by strengthening its capabilities in synthetic rubber markets and expanding into adjacent chemical categories, both organically and through strategic acquisitions.
- Tesham Gor has been appointed as the incoming Chief Executive Officer for the acquired business.
- Goodyear completed the divestiture of the majority of its Chemical business on October 31, 2025, for a purchase price of $650 million.
- At closing, Goodyear received approximately $580 million in cash proceeds.
- This sale concludes all planned asset sales under the Goodyear Forward transformation program, with total gross proceeds from divestitures reaching approximately $2.2 billion.
- The company intends to use the proceeds for debt reduction and to fund initiatives related to the Goodyear Forward transformation plan.
- Goodyear reported net sales of $4.6 billion and 40.0 million tire unit volumes for the third quarter of 2025.
- The company recorded a net loss of $2.2 billion ($7.62 per share) in Q3 2025, which included a $1.4 billion non-cash deferred tax asset valuation allowance and a $674 million non-cash goodwill impairment charge. In contrast, adjusted net income for the quarter was $82 million ($0.28 per share).
- The Goodyear Forward plan delivered $185 million of segment operating income benefits during Q3 2025, and all planned divestitures were completed, including the sale of its Chemical business for $580 million net cash proceeds, contributing to approximately $2.2 billion in total proceeds for debt reduction.
- Infinity Engineered Products, the global exclusive provider of Goodyear branded air springs, has acquired Meklas Otomotiv.
- Meklas Otomotiv, founded in 1986, is a premier European air springs manufacturer primarily serving aftermarket customers for commercial vehicle applications.
- This acquisition is expected to provide significant synergy opportunities, including leveraging Meklas' manufacturing capabilities in Turkey to enhance Infinity's North American operations, accelerating growth, and re-introducing the Goodyear brand to Europe and other geographic markets.
- Grant Thornton Advisors expanded its multinational platform by incorporating member firms from France, Spain, and Belgium, reinforcing its global presence across Europe, the Americas, and the Middle East.
- The French firm is the largest acquisition, reporting €287.7 million ($337 million) in revenue with 2,800 professionals. The Spanish and Belgian firms reported revenues of €100.3 million ($118 million) and more than €40 million ($47 million) respectively.
- This expansion is part of a multinational platform strategy launched in January 2025, which has since incorporated 11 member firms and is supported by a private equity investment led by New Mountain Capital.
- Goodyear reported Q2 2025 net sales of $4,465 million, a 2.3% year-over-year decrease, and segment operating income of $159 million, a 52.4% year-over-year decline.
- The company's Adjusted EPS was ($0.17) and Free Cash Flow was ($387 million) for Q2 2025.
- The "Goodyear Forward" transformation plan contributed $195 million in benefits to segment operating income in Q2 2025, with an expected additional $750 million benefit for the full year 2025, and annualized run rate targets increased to $1.5 billion.
- Goodyear has generated $1.6 billion in gross asset sale proceeds to date from the sale of its Off-the-Road tire business and the Dunlop brand, with expectations to exceed $2.0 billion this year, including the pending Chemical sale.
- The company continues to face challenging industry dynamics, including broad-based increases in imports, significant cuts to OE customer production schedules, and soft consumer replacement demand.