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Goodyear (NASDAQ: GT) swings to Q2 loss and plans Fayetteville plant closure

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

The Goodyear Tire & Rubber Company reported second-quarter 2026 net sales of $4.25 billion, down 4.8% year over year, with tire unit volume of 36.5 million, down 4.0% as destocking eased and market conditions stabilized.

The company recorded a Goodyear net loss of $204 million, or $0.71 per diluted share, versus net income of $254 million, or $0.87 per share, a year earlier. Total segment operating income fell to $36 million from $159 million. Adjusted net loss was $177 million, with adjusted loss per share of $0.61.

Regionally, the Americas swung to a $10 million segment loss on 10.5% lower sales, EMEA narrowed its segment loss to $17 million on modest sales growth, and Asia Pacific delivered $63 million of segment income with a 12.7% margin. The Goodyear Forward program contributed $95 million of quarterly benefits.

Goodyear plans to close its Fayetteville, North Carolina, plant, expecting about $90 million of Americas segment operating income improvement in 2027 and approximately $270 million annually from 2028, with total pre-tax charges between $535 million and $565 million, including $190 million to $210 million of cash costs.

Positive

  • None.

Negative

  • Profitability deteriorated sharply: Q2 2026 Goodyear net loss was $204 million (EPS $(0.71)) versus net income of $254 million and EPS of $0.87 a year earlier, while total segment operating income fell to $36 million from $159 million.
  • Major restructuring charges ahead: the planned Fayetteville, North Carolina, plant closure is expected to generate pre-tax charges of $535–$565 million, including $190–$210 million of cash costs, even though savings are projected in later years.

Filing Explained

As of June 30, the filing reports Goodyear’s liquidity and debt position, including obligations due within one year.

This Form 8-K reports the company’s second-quarter 2026 results and adds a current view of Goodyear’s liquidity and near-term obligations; the disclosed event is completed reporting, not a proposed transaction.

As of June 30, 2026, cash and cash equivalents and current liabilities were disclosed, including long-term debt and finance leases due within one year.

For the six months ended June 30, 2026, operating activities used cash, financing activities provided cash, and cash, cash equivalents and restricted cash ended at a disclosed balance.

These figures make the filing’s material structural addition its quantified liquidity and debt position, rather than a new ownership or issuance mechanism for existing common holders.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net sales Q2 2026 $4,250 million Consolidated net sales for the three months ended June 30, 2026
Goodyear net loss Q2 2026 $204 million Goodyear net loss for the three months ended June 30, 2026
Diluted EPS Q2 2026 $(0.71) Goodyear Net Income (Loss) — Diluted per share of common stock in Q2 2026
Total Segment Operating Income Q2 2026 $36 million Total Segment Operating Income for the three months ended June 30, 2026
Tire unit volume Q2 2026 36.5 million units Global tire unit volume in the second quarter of 2026
Operating cash flow H1 2026 $(620) million Total cash flows from operating activities for the six months ended June 30, 2026
Expected Fayetteville closure charges $535–$565 million Total expected pre-tax charges for the Fayetteville, North Carolina, facility closure
Expected annual savings from footprint actions $270 million Estimated annual savings beginning in 2028 from manufacturing footprint optimization including Fayetteville closure
Segment Operating Income financial
"The company reported segment operating income of $36 million in the second quarter"
Segment operating income is the profit a company earns from one specific part of its business after subtracting the costs of running that part but before interest, taxes and corporate-level items. For investors, it shows which divisions are actually generating operating profit and lets you compare the health and efficiency of different business “slices,” much like checking the cash a single store in a chain makes before company-wide overhead is applied.
Goodyear Forward financial
"Goodyear Forward delivered $95 million of benefits; manufacturing footprint optimization"
organic net sales financial
"organic net sales decreased 1.4% as a result of lower tire unit volume"
Organic net sales represent the revenue generated from a company's core business activities, excluding the effects of acquisitions, divestments, or currency changes. It shows how well the company is growing through its existing products and services, similar to tracking how a plant grows from its own roots rather than by adding new plants. Investors use this measure to assess the true growth and health of a company's ongoing operations.
Return on Net Sales financial
"Return on Net Sales is calculated by dividing Goodyear Net Income (Loss) by Net Sales"
rationalizations financial
"Second quarter 2026 included several significant items, including, on a pre-tax basis, rationalization charges"
Net sales $4.25 billion Decreased 4.8% from $4.47 billion in the second quarter of 2025.
Goodyear net income (loss) $(204) million Compared to Goodyear net income of $254 million in the prior-year quarter.
Diluted EPS $(0.71) Compared to diluted earnings per share of $0.87 in the second quarter of 2025.
Adjusted net income (loss) $(177) million Compared to adjusted net loss of $48 million in the prior-year quarter.
Adjusted diluted EPS $(0.61) Compared to adjusted loss per share of $0.17 in the second quarter of 2025.
Tire unit volume 36.5 million units Decreased 4.0% year over year, with improvement from a 12% decline in the first quarter.

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FAQ

How did Goodyear (GT) perform in the second quarter of 2026?
Goodyear reported a Q2 2026 net loss of $204 million, or $(0.71) per diluted share, on net sales of $4.25 billion. Net sales declined 4.8% year over year and total segment operating income dropped to $36 million from $159 million.

What is the Goodyear Forward program and its Q2 2026 impact for GT?
Goodyear Forward is a cost and efficiency initiative that delivered $95 million of benefits in Q2 2026. These benefits, along with price/mix versus raw materials, partly offset headwinds from lower volumes, higher tariffs, other costs and inflation across the business.

What plant closure did Goodyear (GT) announce and what are the expected savings?
Goodyear announced plans to close its Fayetteville, North Carolina facility. The action is expected to improve Americas segment operating income by about $90 million in 2027 and approximately $270 million annually beginning in 2028, with pre-tax charges of $535–$565 million.

How did Goodyear (GT) perform on an adjusted basis in Q2 2026?
Adjusted net loss for Q2 2026 was $177 million, compared with an adjusted net loss of $48 million a year earlier. Adjusted diluted loss per share was $(0.61), versus an adjusted loss per share of $0.17 in the prior-year quarter, excluding specified significant items.
false000004258200000425822026-08-052026-08-05

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): August 5, 2026
___________________________________
The Goodyear Tire & Rubber Company
(Exact name of registrant as specified in its charter)
___________________________________

Ohio
1-1927
34-0253240
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification Number)
200 Innovation Way
Akron, Ohio 44316-0001
(Address of principal executive offices and zip code)
(330) 796-2121
(Registrant's telephone number, including area code)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, Without Par Value
GT
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company    ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐


Item 2.02     Results of Operations and Financial Condition.

A copy of the News Release issued by The Goodyear Tire & Rubber Company on Wednesday, August 5, 2026, describing its results of operations for the second quarter of 2026, is attached hereto as Exhibit 99.1.


Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.
Description
99.1
News Release, dated August 5, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


THE GOODYEAR TIRE & RUBBER COMPANY
Date: August 5, 2026
By:
/s/ Scott M. Deakin

Scott M. Deakin

Interim Executive Vice President and Chief Financial Officer



1
FOR IMMEDIATE RELEASE
NEWS RELEASE
imagea.jpg
MEDIA CONTACT:
KELLY MCGLUMPHY
KELLY_MCGLUMPHY@GOODYEAR.COM
ANALYST CONTACT:
RYAN REED
RYAN_REED@GOODYEAR.COM
GOODYEAR ANNOUNCES SECOND QUARTER 2026 RESULTS
Second Quarter Performance Reflected Improving Market Stability and
Continued Execution to Strengthen Goodyear's Competitive Position
Second Quarter 2026 Highlights
Net sales of $4.3 billion, decreasing 4.8% YoY; down 1.4% organically as a result of lower volumes
Tire unit volume of 36.5 million units, decreasing 4.0% YoY, improving from a 12% YoY decline during the
first quarter as destocking pressure moderated and market conditions showed more stability
Goodyear OE volumes and market share grew across both consumer and commercial in each region,
reflecting the strength of the product portfolio and supporting long-term replacement demand
Segment operating income of $36 million; strong results in Asia Pacific and improvement in EMEA offset by
moderating headwinds in the Americas
Goodyear Forward delivered $95 million of benefits; manufacturing footprint optimization is underway
with recently announced action providing ~$270 million in expected annual savings by 2028
AKRON, Ohio, August 5, 2026 – The Goodyear Tire & Rubber Company (NASDAQ:GT) reported second
quarter 2026 results today and the company will host an investor call tomorrow morning, Thursday, August 6,
at 8:30 a.m. Eastern time led by Mark Stewart, Goodyear’s chief executive officer and president, and Scott
Deakin, the company’s interim executive vice president and chief financial officer.
"We delivered second quarter results in line with our expectations, reflecting continued improvement in Asia
Pacific and EMEA," said Stewart. "We're taking actions to improve performance in a competitive environment
by strengthening our product lineup, building on original equipment growth across regions, and optimizing
our manufacturing footprint. These actions are designed to strengthen our competitive position and deliver
stronger profitability over time."
Financial Results
Goodyear's second quarter 2026 net sales were $4.3 billion, with tire unit volumes totaling 36.5 million. After
adjusting for the impact of the sales of its Chemical business and the Dunlop brand of $153 million, organic
net sales decreased 1.4% as a result of lower tire unit volume.
2
Second quarter 2026 Goodyear net loss was $204 million, or $0.71 per share, compared to Goodyear net
income one year ago of $254 million, or $0.87 per share. Second quarter 2026 included several significant
items, including, on a pre-tax basis, rationalization charges of $29 million. This significant item, and others, are
excluded from adjusted earnings.
Second quarter 2026 adjusted net loss was $177 million, compared to adjusted net loss of $48 million in the
prior year's quarter. Adjusted loss per share was $0.61, compared to an adjusted loss per share of $0.17 in the
prior year's quarter. Per share amounts are diluted.
Segment Results
The company reported segment operating income of $36 million in the second quarter of 2026, compared to
$159 million from one year ago.
After adjusting for the sales of its Chemical business and the Dunlop brand, segment operating income
decreased $79 million. The decrease in segment operating income reflects the impact of lower volume of
$132 million, higher tariffs and other costs of $100 million, and inflation of $53 million, partially offset by
favorable price/mix versus raw material costs of $123 million and $95 million of benefits from Goodyear
Forward.
Additional earnings materials can be found on Goodyear’s investor relations website at http://
investor.goodyear.com. 
Reconciliation of Non-GAAP Financial Measures
See “Non-GAAP Financial Measures” and “Financial Tables” for further explanation and reconciliation tables
for historical Total Segment Operating Income and Margin; Adjusted Net Income (Loss); and Adjusted Diluted
Earnings per Share, reflecting the impact of certain significant items on the 2026 and 2025 periods. Organic
earnings measures exclude the impact of divestitures; see "Non-GAAP Financial Measures" for additional
details.
3
Business Segment Results
AMERICAS
Second Quarter
Six Months
(In millions)
2026
2025
2026
2025
Tire Units
17.4
19.1
32.7
37.5
Net Sales
$2,382
$2,662
$4,445
$5,164
Segment Operating Income (Loss) 
$(10)
$141
$27
$296
Segment Operating Margin
(0.4%)
5.3%
0.6%
5.7%
Americas’ second quarter 2026 net sales of $2.4 billion were 10.5% lower than the previous year, driven by a
decline in consumer replacement volume and the sale of the Chemical business. Tire unit volume decreased
8.7%. Replacement tire unit volume decreased 13.0%, reflecting planned rationalization of lower-tier product
offerings, lower industry sell-in volume in North America, and increased competition. Original Equipment (OE)
tire unit volume increased 8.7%, reflecting market share gains.
Segment operating loss was $10 million, decreasing from $141 million in income last year. Excluding the
impact of the sale of the Chemical business, Americas' segment operating income decreased $118 million
driven by the impact of lower volume, inflation and other costs, partially offset by Goodyear Forward benefits
and price/mix versus raw materials.
In July, the company announced the planned closure of its Fayetteville, North Carolina, facility as part of its
strategy to align its footprint with its evolving product portfolio and improve the competitiveness of its
manufacturing network in the Americas. This action is expected to generate approximately $90 million of
Americas SOI improvement in 2027 and approximately $270 million annually beginning in 2028. Total pre-tax
charges are expected to be between $535 million and $565 million, including $190 million to $210 million of
cash costs, with the action expected to be substantially completed by the end of 2027.
4
EMEA
Second Quarter
Six Months
(In millions)
2026
2025
2026
2025
Tire Units
11.2
11.3
22.4
23.6
Net Sales
$1,372
$1,344
$2,735
$2,621
Segment Operating Income (Loss)
$(17)
$(25)
$(16)
$(30)
Segment Operating Margin
(1.2)%
(1.9)%
(0.6%)
(1.1)%
EMEA’s second quarter 2026 net sales of $1.4 billion increased 2.1% from second quarter 2025, driven by
benefits from price/mix and currency, partly offset by lower tire volume, inclusive of the sale of the Dunlop
brand. Replacement unit volume decreased 7.1%, driven by consumer market softness, increased competition
and the planned rationalization of lower-tier product offerings. OE tire unit volume increased 8.3%, reflecting
the tenth consecutive quarter of consumer market share gains.
Second quarter segment operating loss was $17 million, improving $8 million from the prior year. Excluding
the impact of the sale of the Dunlop brand, EMEA's segment operating income increased $20 million driven
by benefits from price/mix versus raw materials and Goodyear Forward, partly offset by higher costs, inflation
and the impact of lower volume.
ASIA PACIFIC
Second Quarter
Six Months
(In millions)
2026
2025
2026
2025
Tire Units
7.9
7.5
15.4
15.3
Net Sales
$496
$459
$951
$933
Segment Operating Income 
$63
$43
$120
$88
Segment Operating Margin
12.7%
9.4%
12.6%
9.4%
Asia Pacific's second quarter 2026 net sales of $496 million were 8.1% higher than the previous year, as a
result of higher volume and price/mix benefits. Tire unit volume increased 5.3%. Replacement volume
increased 6.4% driven by higher consumer demand. OE volume increased 4.2% driven by growth primarily in
China and Japan, reflecting consumer OE market share gains.
Second quarter 2026 segment operating income of $63 million was $20 million higher than the prior year
driven by benefits from price/mix versus raw materials, Goodyear Forward and higher volume.
5
Conference Call
The company will host an investor call on Thursday, August 6, 2026, at 8:30 a.m. Eastern time. Please visit
Goodyear’s investor relations website: http://investor.goodyear.com, for additional earnings materials.
The investor call can be accessed on the website or via telephone by calling either (833) 419-0865 or (785)
838-9333 before 8:25 a.m. Eastern time and providing the conference ID “Goodyear.” A replay will be available
by calling (800) 723-1517 or (402) 220-2659. The replay will also be available on Goodyear’s investor relations
website.
About Goodyear
Goodyear is one of the world's largest tire companies. It employs about 63,000 people and manufactures its
products in 48 facilities in 19 countries around the world. Its two Innovation Centers in Akron, Ohio, and
Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology
and performance standard for the industry. For more information about Goodyear and its products, go to
www.goodyear.com/corporate.
6
Forward-Looking Statements
Certain information contained in this news release constitutes forward-looking statements for purposes of the
safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors,
many of which are beyond our control, that affect our operations, performance, business strategy and results
and could cause our actual results and experience to differ materially from the assumptions, expectations and
objectives expressed in any forward-looking statements. These factors include, but are not limited to: our
ability to implement successfully our strategic initiatives; actions and initiatives taken by both current and
potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures;
delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn
or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets;
a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages,
labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures;
changes in tariffs, trade agreements or trade restrictions; uncertainty regarding the timing and amount of any
IEEPA tariff refund; foreign currency translation and transaction risks; our failure to comply with a material
covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well
as the effects of more general factors such as changes in general market, economic or political conditions or
in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and
Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current
reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today
and should not be relied upon as representing our estimates as of any subsequent date. While we may elect
to update forward-looking statements at some point in the future, we specifically disclaim any obligation to
do so, even if our estimates change.
7
Non-GAAP Financial Measures (unaudited)
This news release presents non-GAAP financial measures, including Total Segment Operating Income and
Margin, Adjusted Net Income (Loss), Adjusted Diluted Earnings Per Share (EPS), and organic earnings
measures, which are important financial measures for the company but are not financial measures defined by
U.S. GAAP, and should not be construed as alternatives to corresponding financial measures presented in
accordance with U.S. GAAP.
Total Segment Operating Income is the sum of the individual strategic business units’ (SBUs’) Segment
Operating Income as determined in accordance with U.S. GAAP. Total Segment Operating Margin is Total
Segment Operating Income divided by Net Sales as determined in accordance with U.S. GAAP. Management
believes that Total Segment Operating Income and Margin are useful because they represent the aggregate
value of income created by the company’s SBUs and exclude items not directly related to the SBUs for
performance evaluation purposes. The most directly comparable U.S. GAAP financial measures to Total
Segment Operating Income and Margin are Goodyear Net Income (Loss) and Return on Net Sales (which is
calculated by dividing Goodyear Net Income (Loss) by Net Sales).
Adjusted Net Income (Loss) is Goodyear Net Income (Loss) as determined in accordance with U.S. GAAP
adjusted for certain significant items. Adjusted Diluted Earnings Per Share (EPS) is the company’s Adjusted
Net Income (Loss) divided by Weighted Average Shares Outstanding-Diluted as determined in accordance
with U.S. GAAP. Management believes that Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per
Share (EPS) are useful because they represent how management reviews the operating results of the company
excluding the impacts of rationalizations, asset write-offs, accelerated depreciation, discrete tax items,
impairments, asset sales and certain other significant items.
Organic earnings measures, including organic Net Sales growth, are non-GAAP financial measures that
exclude the direct impacts of the divestitures of the Dunlop brand and Chemical business from year-over-year
comparisons. We believe these measures provide investors with a supplemental understanding of underlying
earnings trends by providing comparisons on a constant basis. We completed the sale of the Dunlop brand
and our Chemical business in May 2025 and October 2025, respectively.
It should be noted that other companies may calculate similarly-titled non-GAAP financial measures
differently and, as a result, the measures presented herein may not be comparable to such similarly-titled
measures reported by other companies. See the following tables for reconciliations of historical Total
Segment Operating Income and Margin, Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share
to the most directly comparable U.S. GAAP financial measures.
8
The Goodyear Tire & Rubber Company and Subsidiaries
Financial Tables (Unaudited)
Table 1: Consolidated Statements of Operations
Three Months Ended
Six Months Ended
June 30,
June 30,
(In millions, except per share amounts)
2026
2025
2026
2025
Net Sales
$4,250
$4,465
$8,131
$8,718
Cost of Goods Sold
3,569
3,705
6,757
7,218
Selling, Administrative and General Expense
703
692
1,371
1,342
Rationalizations
29
59
133
140
Interest Expense
105
112
200
227
Other (Income) Expense
22
31
31
56
Net (Gain) Loss on Asset Sales
(17)
(439)
(20)
(701)
Income (Loss) before Income Taxes
(161)
305
(341)
436
United States and Foreign Tax Expense
46
24
112
37
Net Income (Loss)
(207)
281
(453)
399
Less: Minority Shareholders’ Net Income (Loss)
(3)
27
—
30
Goodyear Net Income (Loss)
$(204)
$254
$(453)
$369
Goodyear Net Income (Loss) — Per Share of Common Stock
Basic
$(0.71)
$0.88
$(1.57)
$1.28
Weighted Average Shares Outstanding
289
287
289
287
Diluted
$(0.71)
$0.87
$(1.57)
$1.27
Weighted Average Shares Outstanding
289
290
289
290
9
Table 2: Consolidated Balance Sheets
June 30,
December 31,
(In millions, except share data)
2026
2025
Assets:
Current Assets:
    Cash and Cash Equivalents
$861
$801
Accounts Receivable, less Allowance — $84 ($89 in 2025)
2,728
2,341
    Inventories:
          Raw Materials
633
616
          Work in Process
193
195
          Finished Products
3,090
2,761
3,916
3,572
    Assets Held for Sale
—
58
    Prepaid Expenses and Other Current Assets
407
446
          Total Current Assets
7,912
7,218
Goodwill
44
42
Intangible Assets
651
663
Deferred Income Taxes
352
348
Other Assets
1,121
1,096
Operating Lease Right-of-Use Assets
972
998
Property, Plant and Equipment, less Accumulated Depreciation — $12,400 ($12,390 in 2025)
7,598
7,843
          Total Assets
$18,650
$18,208
Liabilities:
Current Liabilities:
    Accounts Payable — Trade
$3,878
$3,879
    Compensation and Benefits
575
578
    Other Current Liabilities
1,215
1,259
    Notes Payable and Overdrafts
359
506
    Operating Lease Liabilities due Within One Year
191
196
    Long Term Debt and Finance Leases due Within One Year
1,059
364
          Total Current Liabilities
7,277
6,782
    Operating Lease Liabilities
832
862
    Long Term Debt and Finance Leases
5,772
5,328
    Compensation and Benefits
765
787
    Deferred Income Taxes
102
105
    Other Long Term Liabilities
901
941
          Total Liabilities
15,649
14,805
Commitments and Contingent Liabilities
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
    Common Stock, no par value:
Authorized, 450 million shares, Outstanding shares — 288 million in 2026 (286 million in 2025)
288
286
    Capital Surplus
3,178
3,175
    Retained Earnings
2,907
3,360
    Accumulated Other Comprehensive Loss
(3,534)
(3,588)
          Goodyear Shareholders’ Equity
2,839
3,233
Minority Shareholders’ Equity — Nonredeemable
162
170
          Total Shareholders’ Equity
3,001
3,403
          Total Liabilities and Shareholders’ Equity
$18,650
$18,208
10
Table 3: Consolidated Statements of Cash Flows
Six Months Ended
June 30,
(In millions)
2026
2025
Cash Flows from Operating Activities:
Net Income (Loss)
$(453)
$399
    Adjustments to Reconcile Net Income (Loss)  to Cash Flows from Operating Activities:
          Depreciation and Amortization
474
544
          Amortization and Write-Off of Debt Issuance Costs
6
10
          Provision for Deferred Income Taxes
(8)
(55)
          Net Pension Curtailments and Settlements
—
4
          Net Rationalization Charges
133
140
          Rationalization Payments
(123)
(204)
          Net (Gain) Loss on Asset Sales
(20)
(701)
          Operating Lease Expense
150
159
          Operating Lease Payments
(137)
(141)
          Pension Contributions and Direct Payments
(22)
(53)
    Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
          Accounts Receivable
(340)
(498)
          Inventories
(340)
(512)
          Accounts Payable — Trade
60
(59)
          Compensation and Benefits
39
2
          Other Current Liabilities
(21)
312
          Other Assets and Liabilities
(18)
(65)
    Total Cash Flows from Operating Activities
(620)
(718)
Cash Flows from Investing Activities:
          Capital Expenditures
(342)
(466)
          Asset Dispositions
3
1,328
          Other Transactions
—
(25)
    Total Cash Flows from Investing Activities
(339)
837
Cash Flows from Financing Activities:
          Short Term Debt and Overdrafts Incurred
362
557
          Short Term Debt and Overdrafts Paid
(506)
(632)
          Long Term Debt Incurred
5,803
8,888
          Long Term Debt Paid
(4,630)
(8,925)
          Other Transactions
(9)
5
    Total Cash Flows from Financing Activities
1,020
(107)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash
(6)
26
    Net Change in Cash, Cash Equivalents and Restricted Cash
55
38
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period
910
864
    Cash, Cash Equivalents and Restricted Cash at End of the Period
$965
$902
11
Table 4: Reconciliation of Segment Operating Income & Margin
Three Months Ended
Six Months Ended
June 30,
June 30,
(In millions)
2026
2025
2026
2025
Total Segment Operating Income
$36
$159
$131
$354
    Less:
          Rationalizations
29
59
133
140
          Interest Expense
105
112
200
227
          Other (Income) Expense
22
31
31
56
          Net (Gain) Loss on Asset Sales
(17)
(439)
(20)
(701)
          Asset Write-Offs, Accelerated Depreciation, and Accelerated Lease Costs, net
—
41
16
87
          Corporate Incentive Compensation Plans
8
20
31
36
          Retained Expenses of Divested Operations
3
1
6
3
          Other
47
29
75
70
Income (Loss) before Income Taxes
$(161)
$305
$(341)
$436
United States and Foreign Tax Expense
46
24
112
37
Less: Minority Shareholders' Net Income (Loss)
(3)
27
—
30
Goodyear Net Income (Loss)
$(204)
$254
$(453)
$369
Net Sales
$4,250
$4,465
$8,131
$8,718
Return on Net Sales
(4.8)%
5.7%
(5.6)%
4.2%
Total Segment Operating Margin
0.8%
3.6%
1.6%
4.1%
12
Table 5: Reconciliation of Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share
Second Quarter 2026
(In millions, except  per share amounts)
As
Reported
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation and
Leases
Colombia
Labor Strike
Indirect Tax
Settlements
and Discrete
Tax Items
Asset and
Other Sales
As Adjusted
Net Sales
$4,250
$—
$—
$—
$—
$4,250
Cost of Goods Sold
3,569
—
(7)
—
—
3,562
Gross Margin
681
—
7
—
—
688
SAG
703
—
—
—
—
703
Rationalizations
29
(29)
—
—
—
—
Interest Expense
105
—
—
—
—
105
Other (Income) Expense
22
—
—
—
—
22
Net (Gain) Loss on Asset Sales
(17)
—
—
—
17
—
Pre-tax Income (Loss)
(161)
29
7
—
(17)
(142)
Taxes
46
—
—
(5)
(3)
38
Minority Interest
(3)
—
—
—
—
(3)
Goodyear Net Income (Loss)
$(204)
$29
$7
$5
$(14)
$(177)
EPS
$(0.71)
$0.10
$0.02
$0.02
$(0.04)
$(0.61)
Second Quarter 2025
(In millions, except per share amounts)
As
Reported
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation
and Leases
Goodyear
Forward and
Other
Transaction
Costs
Indirect Tax
Settlements
and
Discrete Tax
Items
Asset and
Other Sales
As
Adjusted
Net Sales
$4,465
$—
$—
$—
$—
$4,465
Cost of Goods Sold
3,705
(40)
—
—
—
3,665
Gross Margin
760
40
—
—
—
800
SAG
692
(1)
(3)
—
—
688
Rationalizations
59
(59)
—
—
—
—
Interest Expense
112
—
—
—
—
112
Other (Income) Expense
31
—
(2)
—
—
29
Net (Gain) Loss on Asset Sales
(439)
—
—
—
439
—
Pre-tax Income (Loss)
305
100
5
—
(439)
(29)
Taxes
24
8
2
4
(21)
17
Minority Interest
27
—
—
—
(25)
2
Goodyear Net Income (Loss)
$254
$92
$3
$(4)
$(393)
$(48)
EPS
$0.87
$0.33
$0.01
$(0.02)
$(1.36)
$(0.17)
13
Six Months 2026
(In millions, except  per share amounts)
As
Reported
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation and
Leases
Indirect Tax
Settlements and
Discrete Tax Items
Colombia
Labor Strike
Asset and
Other Sales
As Adjusted
Net Sales
$8,131
$—
$—
$—
$—
$8,131
Cost of Goods Sold
6,757
(15)
(8)
(7)
—
6,727
Gross Margin
1,374
15
8
7
—
1,404
SAG
1,371
(1)
—
—
—
1,370
Rationalizations
133
(133)
—
—
—
—
Interest Expense
200
—
—
—
—
200
Other (Income) Expense
31
—
—
—
—
31
Net (Gain) Loss on Asset Sales
(20)
—
—
—
20
—
Pre-tax Income (Loss)
(341)
149
8
7
(20)
(197)
Taxes
112
8
(25)
—
(3)
92
Minority Interest
—
1
—
—
—
1
Goodyear Net Income (Loss)
$(453)
$140
$33
$7
$(17)
$(290)
EPS
$(1.57)
$0.48
$0.12
$0.02
$(0.05)
$(1.00)
Six Months 2025
(In millions, except per share amounts)
As
Reported
Rationalizations,
Asset Write-offs,
Accelerated
Depreciation
and Leases
Goodyear
Forward and
Other
Transaction
Costs
Pension
Settlement
Charges
Indirect Tax
Settlements
and
Discrete Tax
Items
Asset and
Other Sales
As
Adjusted
Net Sales
$8,718
$—
$—
$—
$—
$—
$8,718
Cost of Goods Sold
7,218
(83)
—
—
—
—
7,135
Gross Margin
1,500
83
—
—
—
—
1,583
SAG
1,342
(4)
(5)
—
—
—
1,333
Rationalizations
140
(140)
—
—
—
—
—
Interest Expense
227
—
—
—
—
—
227
Other (Income) Expense
56
—
(6)
(4)
—
—
46
Net (Gain) Loss on Asset Sales
(701)
—
—
—
—
701
—
Pre-tax Income (Loss)
436
227
11
4
—
(701)
(23)
Taxes
37
30
3
1
5
(46)
30
Minority Interest
30
1
—
—
—
(25)
6
Goodyear Net Income (Loss)
$369
$196
$8
$3
$(5)
$(630)
$(59)
EPS
$1.27
$0.69
$0.03
$0.01
$(0.02)
$(2.19)
$(0.21)

Source: View Original Filing on SEC EDGAR

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