Welcome to our dedicated page for Goodyear Tire & Rubr news (Ticker: GT), a resource for investors and traders seeking the latest updates and insights on Goodyear Tire & Rubr stock.
Goodyear Tire & Rubber reports recurring developments tied to its global tire manufacturing and sales business. The company makes and sells Goodyear-brand tires and related products and services for consumer, commercial, aviation, motorcycle, mining, farm and industrial uses across the Americas, EMEA and Asia Pacific.
Company news commonly covers quarterly results, tire unit volume, original-equipment and replacement demand, regional pricing and mix, raw-material and industry conditions, and benefits from Goodyear Forward cost actions. Other updates include portfolio changes following completed divestitures, brand and product campaigns such as the Eagle performance tire family, consumer-facing initiatives tied to Goodyear's heritage, and management appointments within regional and corporate functions.
Stu Grant, Goodyear's general manager for global race tires, was honored with the 2021 Buddy Shuman Award by NASCAR during its annual awards ceremony in Nashville, Tennessee. This award acknowledges significant contributions to stock-car racing. Grant has been a pivotal figure in Goodyear's racing program for 25 years, overseeing its status as NASCAR's official tire supplier since 1997. He is currently leading the initiative to transition the Cup Series to an 18-inch tire. Grant's dedication to both NASCAR and Goodyear has been widely recognized, making this award a prestigious achievement in his career.
Goodyear partners with the U.S. Marine Corps Reserve for the 11th year to support the Toys for Tots Foundation. From Nov. 20 to Dec. 10, donations can be made at select Goodyear locations nationwide. Special drive-thru events will be held in Ohio, California, and Florida on designated dates. All toys must be new and in original packaging. This collaboration has delivered over 165,000 toys and $500,000 in donations to date. Goodyear emphasizes community support and COVID-19 safety protocols during the events.
Goodyear Tire & Rubber Company (NASDAQ: GT) reported a strong third quarter for 2021 with sales reaching $4.9 billion, up 42% year-over-year, thanks to the Cooper Tire merger. Tire unit volumes increased by 32% to 48.2 million, with a notable 44% rise in replacement tire volumes. Net income surged to $132 million (46 cents per share) from a net loss of $2 million a year earlier. Segment operating income rose to $372 million, driven by improved pricing and volume, despite ongoing inflation and raw material cost challenges. Year-to-date sales were $12.4 billion, a 43% increase compared to 2020.
Goodyear Tire & Rubber Company (NASDAQ: GT) partnered with Stark Area Regional Transit Authority (SARTA) to test intelligent tire sensors and prototype tires on SARTA's fleet of diesel and hydrogen fuel cell buses. This collaboration will utilize Goodyear's TPMS Plus technology to provide real-time tire condition data, optimizing maintenance and potentially reducing operational costs. Initial tests indicate improvements in fuel efficiency and reductions in bus breakdowns. The project aims to enhance safety, sustainability, and efficiency within public transportation.
At the 2021 SEMA Show, Goodyear's Mickey Thompson Tires & Wheels' Baja Legend EXP won the Best New Product Award in the Tire and Related Product category. The ET Street Front drag tire and Cooper Tire's Discoverer Snow Claw were recognized as Runner-Ups. This achievement marks a clean sweep for Goodyear in this category. Dominick Wycoff, president of Mickey Thompson, stated their commitment to innovation and quality in tire manufacturing, emphasizing the performance capabilities of their products.
Goodyear (NASDAQ: GT) has partnered with Waze to enhance the college football experience through a new navigation voice option featuring Kirk Herbstreit. Available until January 31, 2022, this collaboration allows fans to navigate to all 129 Division 1 college football stadiums, marked on the Waze map. Additionally, users can select a Goodyear Blimp icon for directions. In conjunction, Goodyear is hosting a 'Road to Greatness' sweepstakes until November 13, 2021, offering fans the chance to win tickets to major college football events.
The Goodyear Tire & Rubber Company (NASDAQ: GT) is set to report its third-quarter financial results on November 5, 2021. An investor conference call will follow at 9:30 a.m. EDT, with financial information available on their investor relations website. Goodyear is recognized as one of the largest tire manufacturers globally, with a workforce of approximately 72,000 and operations in 55 facilities across 23 countries. The company's innovation centers in Akron and Luxembourg focus on developing advanced tire technologies.
Goodyear Tire & Rubber Company (NASDAQ: GT) launched its new RT-3B bead-to-bead retread, designed for loaders and graders, enhancing its off-the-road (OTR) tire portfolio. The RT-3B provides significant cost savings of up to 60% compared to new tires, while promoting sustainability by reducing waste. Available in two sizes, 20.5R25 and 23.5R25, the retread features low heat generation, cut-resistance, and extended tire life. Goodyear, with decades of experience in retreading, aims to drive efficiency and lower ownership costs for its OTR customers.
The Goodyear Tire & Rubber Company (NASDAQ: GT) is inviting nominations for its 2020-2021 Highway Hero Award, honoring professional truck drivers who have selflessly acted for others on highways in North America. Nominations are open until Dec. 31, 2021, with winners announced in early 2022. The award, established decades ago, recognizes truck drivers' crucial roles in the trucking industry and highlights acts of heroism. Eligible nominees must reside in the U.S. or Canada and meet specific criteria. For more details, visit GoodyearTruckTires.com.
Cooper Tire has launched the Roadmaster RM832+ EM™, a SmartWay Verified steer tire designed for commercial long-haul use. It features an 18/32nds tread depth and a wide footprint for improved weight distribution and treadwear. The tire incorporates a patent-pending decoupling rib for durability and fuel efficiency, bolstered by Energy Max compounding that meets U.S. greenhouse gas standards. Available in seven sizes starting October 4, 2021, it also offers a six-year, two-retread warranty.