Goodyear Tire & Rubr (GT) Stock News

Goodyear Tire & Rubber Company (NASDAQ: GT) has announced the pricing of $500 million in 5-year senior notes at a 6.625% interest rate. The notes, priced at 100% of principal amount, are expected to close on June 3, 2025. The company plans to use the proceeds, along with existing cash and proceeds from the Dunlop brand disposition, to fully redeem its outstanding $900 million 5.000% Senior Notes due 2026. A notice of redemption for $400 million of the 2026 Notes has been issued, with redemption scheduled for June 30, 2025. The offering is supported by multiple financial institutions acting as joint book-running managers, senior co-managers, and co-managers.

Goodyear Tire & Rubber Company (NASDAQ: GT) has announced a public offering of $500 million in 5-year senior notes. The company plans to use the proceeds, along with existing cash and cash equivalents, to fully redeem its outstanding 5.000% Senior Notes due 2026, which currently has $900 million outstanding. The company has already issued a notice to redeem $400 million of the 2026 Notes using proceeds from the Dunlop brand disposition, with a redemption date of June 30, 2025.

The offering will be managed by multiple financial institutions, including Deutsche Bank Securities, BofA Securities, and others. The notes will be senior unsecured obligations and will be offered under an effective shelf registration statement filed with the SEC.

Gemspring Capital Management has entered into a definitive agreement to acquire Goodyear's (NASDAQ: GT) polymer chemicals business. The acquisition includes two operating plants in Texas (Houston and Beaumont) and an R&D facility in Akron, Ohio. Goodyear Chemical, headquartered in Akron, is a leading North American synthetic rubber producer serving major tire manufacturers and various end markets including food, medical, sporting goods, and industrial applications.

Goodyear will retain its Chemical facilities in Niagara Falls, NY, and Bayport, TX. The transaction is expected to close by late 2025, subject to regulatory approval. Tesham Gor is expected to become CEO of the standalone business. Gemspring Capital, with $3.8 billion under management, aims to accelerate product development and expand customer relationships globally.

Goodyear Tire & Rubber Company (NASDAQ: GT) has announced the sale of its Chemical business to Gemspring Capital Management for $650 million. The transaction includes Goodyear Chemical facilities in Houston and Beaumont, Texas, and a research office in Akron, Ohio. The deal, expected to close by late 2025, includes a long-term supply agreement. Goodyear will retain its Chemical facilities in Niagara Falls, New York, and Bayport, Texas. The sale aligns with the company's Goodyear Forward transformation plan, with proceeds intended to reduce leverage and fund transformation initiatives. The transaction is subject to regulatory approval and customary closing conditions.

Goodyear Tire & Rubber Company (NASDAQ: GT) has elected Jason J. Winkler to its Board of Directors, effective May 15, 2025. Winkler, currently serving as executive vice president and CFO of Motorola Solutions, will join the board's Audit Committee and Committee on Corporate Responsibility and Compliance.

Winkler brings extensive global finance leadership experience from his 20+ year tenure at Motorola, where he has held various financial leadership positions in investor relations, global channel management, M&A, and product operations. In his current role, he oversees Motorola Solutions' financial strategy and leads finance, supply chain, and IT functions, contributing to significant transformation through growth, margin expansion, and balance sheet improvements.

Goodyear Tire & Rubber Company (NASDAQ: GT) has appointed Grégory Boucharlat as senior vice president of Global Commercial, reporting directly to CEO Mark Stewart. Boucharlat, a 30-year veteran at Goodyear, will oversee the company's global Commercial tire business while continuing to lead the Tires-as-a-Service (TaaS) organization.

Throughout his career at Goodyear, Boucharlat has held various leadership positions, including vice president of Commercial EU and vice president of TaaS. His extensive experience spans truck tire sales and commercial operations in Europe and globally. Based in Brussels, his appointment is effective immediately.

Goodyear (NASDAQ: GT) has launched its award-winning Eagle F1 Asymmetric 6 tire in North America. Named 2025 Test Winner by AutoBild Magazine, this premium summer tire features advanced technology for ultra-high-performance driving. The tire offers superior grip, handling, and comfort, with innovative features including SoundComfort® and SealTech technologies in select fitments.

The Eagle F1 Asymmetric 6 is available in over 100 sizes ranging from 17 to 23 inches, with 90% of SKUs 18 inches or larger. It's compatible with premium vehicles from BMW, Audi, Mercedes, Porsche, and Tesla. The tire comes with a 30,000-mile tread life limited warranty and is specifically designed to meet the demands of modern SUVs and EVs with its low rolling resistance and high load rating.

Goodyear (NASDAQ: GT) reported Q1 2025 results with net sales of $4.3 billion and tire unit volumes of 38.5 million. The company posted net income of $115 million ($0.40 per share), compared to a net loss of $57 million ($0.20 per share) in Q1 2024. However, adjusted net loss was $11 million, down from adjusted net income of $29 million year-over-year. Segment operating income decreased to $195 million, down $52 million from last year. The company completed two significant transactions: the sale of its OTR tire business for $905 million and the Dunlop brand for $735 million. The Goodyear Forward transformation plan delivered $200 million in benefits during Q1, maintaining its target of 10% segment operating margin and 2.0x-2.5x leverage by end of 2025.

Goodyear Tire & Rubber Company (NASDAQ: GT) has finalized the sale of its Dunlop brand rights to Sumitomo Rubber Industries (TYO: 5110) for consumer, commercial, and specialty tires in Europe, North America, and Oceania. The transaction, completed on May 7, 2025, generated total gross proceeds of $735 million, broken down as $526 million for the brand, $105 million for transition support, and $104 million for inventory.

The sale aligns with the Goodyear Forward transformation plan, aimed at optimizing the company's portfolio and reducing leverage. CEO Mark Stewart emphasized that this strategic move will help sharpen focus on Goodyear's core brands while continuing their operational transformation and targeted segment growth.