Goodyear Tire & Rubr Co Stock Price, News & Analysis

Goodyear reported strong fourth quarter and full-year results for 2021, achieving $5.1 billion in sales, a 38% increase driven by the Cooper Tire merger and improved pricing. Fourth quarter net income rose to $553 million ($1.93 per share) from $63 million in 2020. Adjusted net income for the year was $553 million, compared to a net loss of $448 million in 2020. Despite inflationary pressures and higher raw material costs, the company anticipates substantial long-term growth, targeting $250 million in run-rate synergies from the merger.

The Goodyear Tire & Rubber Company (NASDAQ: GT) will release its fourth quarter and full-year 2021 financial results on February 11. The announcement will be followed by an investor conference call at 9 a.m. EST. Financial details will be made available on Goodyear's investor relations website prior to the call. Interested parties can access the call via the website or by telephone. Goodyear, employing about 72,000 people, operates 56 facilities across 23 countries and aims to lead in tire technology and performance.

Goodyear Tire & Rubber Company (NASDAQ: GT) has appointed Christian Gadzinski as the new senior director of Investor Relations, effective January 10, 2022. Gadzinski brings extensive experience from his previous roles within the company, including a stint in investor relations and leadership in finance for the North American business. He succeeds Nick Mitchell, who has transitioned to focus on strategy and business development. Goodyear is one of the largest tire manufacturers globally, employing approximately 72,000 people across 55 facilities in 23 countries.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has announced the development of a custom-engineered non-pneumatic tire for Starship delivery robots, aimed at enhancing tire longevity and lowering maintenance needs. Currently, the two companies are in an in-field testing phase at Bowling Green State University, yielding promising results in treadwear, braking, and vibrations. Goodyear's airless tire technology is positioned to support Starship's evolving delivery demands, helping to ensure reliability and cost efficiency for their fleet operating in diverse conditions.

The Goodyear Tire & Rubber Company (NASDAQ: GT) announced a new demonstration tire made with 70% sustainable materials, marking a significant step in their goal to produce tires entirely from sustainable sources by 2030. Key innovations include the use of carbon blacks from alternative sources, soybean oil to enhance rubber flexibility, silica sourced from rice husk ash, and recycled polyester from plastic waste. These advancements aim to improve tire performance while reducing environmental impact.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has renewed its multiyear title sponsorship of the Goodyear Cotton Bowl Classic, which will continue to be part of the New Year's Six bowl games. This agreement highlights Goodyear's long-term commitment to college football and ensures its branding during key matches, including a semifinal game in 2024. Goodyear also extended its partnership with Disney Advertising Sales for aerial coverage of college football events. The 86th Cotton Bowl, featuring Alabama vs. Cincinnati, is scheduled for December 31, 2021.

Goodyear Tire & Rubber Company has launched the ElectricDrive GT, its first replacement tire in North America tailored for electric vehicles (EVs). This ultra-high performance, all-season tire promises long-lasting tread wear and a quiet ride. The ElectricDrive GT is designed with Goodyear's SoundComfort Technology® to reduce road noise and features an asymmetric tread pattern for enhanced all-season traction. Initially available in size 255/45R19 104W XL, it targets popular high-performance EV models. Goodyear aims to expand its electric vehicle product line in 2022.

The Goodyear Tire & Rubber Company (NASDAQ: GT), based in Akron, Ohio, has announced a commitment to achieve net-zero greenhouse gas emissions by 2050, aligning with Science Based Targets initiative (SBTi) guidelines. By 2030, Goodyear targets a 46% reduction in Scope 1 and 2 emissions and a 28% reduction in relevant Scope 3 emissions, using 2019 as a baseline. The company aims to procure 100% renewable energy in its facilities across Europe, the Middle East, and Africa by the end of 2022 and strives for a sustainable tire made from 100% sustainable materials by 2030.