Goodyear (GT) filed a Form S-8 to register 12,400,000 additional shares of common stock for its 2022 Performance Plan after shareholder approval on April 14, 2025. The filing updates an earlier S-8 from 2022 and incorporates prior disclosures by reference. It is a routine registration to enable stock awards to employees and executives under the existing plan.
Q2 2025 highlights – The Goodyear Tire & Rubber Company (GT)
- Revenue: Net sales slipped 2% YoY to $4.47 bn; six-month sales down 4% to $8.72 bn as tire unit volumes contracted, particularly in Asia-Pacific.
- Earnings: A $439 m pre-tax gain on the Dunlop brand sale drove income before tax to $305 m (vs $133 m). GAAP net income rose to $254 m, or $0.87 diluted EPS (vs $0.28). YTD net income is $369 m ($1.27 EPS) versus $10 m last year, lifted by $701 m total divestiture gains (OTR business Q1, Dunlop Q2).
- Cost profile: Gross profit was $760 m; SG&A trimmed 5% YoY. Rationalization expense grew to $59 m; Goodyear Forward actions include closing Danville (VA) commercial tire lines and proposing closure of the South Africa plant, together affecting ~1,800 positions.
- Cash & leverage: YTD operating cash flow was a $718 m outflow, offset by $837 m investing inflow from asset sales. Cash balances at $785 m; long-term debt edged up to $6.56 bn. Shareholders’ equity improved to $5.12 bn.
- Strategic portfolio shift: • OTR tire business sold to Yokohama for ~$905 m (Q1). • Dunlop brand rights sold to Sumitomo Rubber for $735 m (Q2). • Agreement signed to divest Chemical business for ~$650 m cash (expected close by Nov-25). Deferred income and multi-year supply/royalty agreements will recognize a portion of proceeds over time.
- Other items: Corrected immaterial prior-period FX errors tied to Turkish hyper-inflation accounting; minimal P&L impact. Tax rate benefited from gains recognized in low-tax jurisdictions.
Management signals further deleveraging and cost-savings once the Chemical transaction closes.
Amendment No. 2 to Schedule 13G for Goodyear Tire & Rubber (GT) discloses that individual investor Dan Hagan beneficially owns 10,000,000 common shares, equal to 3.5 % of outstanding shares (285.7 M as of 30 Apr 2025). The stake comprises shares held directly plus 3 M shares in a charitable trust over which Hagan is sole trustee. Hagan reports sole voting and dispositive power for the entire position; no shared power is indicated.
Because the holding is below the 5 % threshold, Item 5 confirms “ownership of 5 percent or less of a class,” and the certification states the shares were not acquired to influence control of the issuer. The filing’s event date is 30 Jun 2025, and the certification is signed on 7 Aug 2025.
- Beneficial owner: Dan Hagan (U.S.)
- Shares owned: 10,000,000
- Percent of class: 3.5 %
- Voting/Dispositive power: Sole