Goodyear Tire & Rubr Co Stock Price, News & Analysis

The Goodyear Tire & Rubber Company (NASDAQ: GT) will announce its third quarter 2022 financial results on October 31, 2022, after the market closes. This announcement will be delivered in a new Investor Letter format that replaces traditional press releases and presentations. An investor conference call is scheduled for 8 a.m. EDT on November 1, 2022, providing an opportunity for Q&A. The company employs approximately 72,000 people and operates 57 facilities across 23 countries.

Goodyear Tire & Rubber Company has announced the return of its annual Highway Hero Award during National Truck Driver Appreciation Week. The award honors professional truck drivers who demonstrate extraordinary acts of courage on the road. Nominations are open until Dec. 31, 2022, inviting the trucking community to submit stories of heroism. Winners will be announced in early 2023, receiving cash prizes and recognition at the TMC Annual Meeting in March 2023. Previous awardees have included drivers who saved lives in emergencies.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has launched the new Armor Max Extreme Service Drive (ESD) tire, designed for extreme environments. This tire enhances durability and traction for heavy-duty construction, logging, oil, and mining applications. Available in sizes 11R22.5 H and 11R24.5 H, the Armor Max ESD features a deep 32/32 tread design for superior off-road performance, optimized tread geometry to resist stone holding, and an innovative sidewall design. The launch aligns with Goodyear's Total Mobility platform, offering comprehensive tire management for fleets.

Goodyear Tire & Rubber Company (NASDAQ: GT) has introduced the Goodyear ElectricDrive™ all-season tire and two sizes for the ElectricDrive™ GT tire, enhancing its offerings in the growing electric vehicle (EV) market. This expansion allows Goodyear to cater to 44% more battery electric vehicles in the U.S. The ElectricDrive™ comes with a 60,000-mile tread life warranty and is designed for commuter sedans and CUVs. The ElectricDrive™ GT offers a 40,000-mile warranty. Both products feature advanced technology for improved performance and reduced road noise.

Goodyear Tire & Rubber Company (NASDAQ: GT) announced strong second quarter 2022 results, with net sales of $5.2 billion, marking a 31% increase year-over-year, driven by the Cooper Tire merger. Net income rose to $166 million (58 cents/share), up from $67 million (27 cents/share) last year. Adjusted net income improved to $131 million, reflecting an increase in tire unit volume by 21%. Despite inflationary pressures and higher raw material costs, operating income reached $372 million, up 7%. The company experienced robust sales across all regions, particularly in the Americas.

The Goodyear Tire & Rubber Company (NASDAQ: GT) will announce its second quarter 2022 financial results on August 5, 2022, with an investor conference call scheduled for 8:30 a.m. EDT. Financial information will be available on its investor relations website prior to the call. Investors and media can access the call through the website or by telephone. Goodyear, based in Akron, Ohio, is among the world's largest tire manufacturers, employing about 72,000 people across 57 facilities in 23 countries, focusing on technology and performance in tire innovation.

Goodyear has partnered with Lockheed Martin to develop lunar mobility vehicles for NASA's Artemis program, enhancing tire technology for extreme lunar conditions. The collaboration builds on Goodyear's legacy, dating back to the Apollo missions. This new venture aims to create tires capable of operating in temperatures ranging from -250°F to over 250°F, addressing the challenges of rugged lunar terrain. By leveraging advanced airless tire technology and lunar soil testing, Goodyear seeks to make significant contributions to lunar exploration and improve tire performance on Earth.

The Goodyear Tire & Rubber Company (NASDAQ: GT) released its 2021 Corporate Responsibility Report, highlighting significant sustainability progress. Key achievements include a demonstration tire made of 70% sustainable materials, a 24% reduction in greenhouse gas emissions intensity, and a commitment to net-zero emissions by 2050. The company aims for a 100% sustainable tire by 2030. Goodyear has also improved fuel efficiency with a 32% reduction in rolling resistance. The report reflects Goodyear's dedication to responsible operations, sustainable sourcing, and fostering an inspiring workplace culture.