Goodyear Tire & Rubber Company: An Ideal Time To Back Up The Truck
The Goodyear Tire & Rubber Company shares plummeted 15.1% on August 1st due to weak revenue in the second quarter of 2024. Despite the revenue decline, earnings and adjusted earnings per share were higher than expected, with significant cost-cutting initiatives underway. The company's Goodyear Forward plan aims to sell $2 billion in assets and cut costs by $1.3 billion annually, and the firm is showing positive progress in this regard.
Goodyear Tire & Rubber: Larger Macro Concerns Outshine Progress On Strategy (Downgrade)
Goodyear Tire & Rubber is undergoing a turnaround, with shares down 20% since March 2024. Q2 2024 results showed revenue declines, margin improvement, and the sale of the company's Off-the-Road tire business to Yokohama Rubber Company. Despite progress on the company's Goodyear Forward plan, high debt levels and industry challenges prompt a downgrade to a 'hold' rating.
Why Goodyear Tire & Rubber Stock Plunged 15.9% Today
Goodyear's revenue fell 6% to $4.57 billion on a drop in tire sales. Cost cuts have taken hold, though, resulting in a profit versus a loss a year ago.
Goodyear (GT) Reports Q2 Earnings: What Key Metrics Have to Say
While the top- and bottom-line numbers for Goodyear (GT) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Goodyear (GT) Upgraded to Strong Buy: Here's Why
Goodyear (GT) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Here's Why You Should Retain Goodyear (GT) in Your Portfolio
Goodyear (GT) is poised to benefit from the buyout of Cooper Tire, Goodyear Forward plan and EMEA restructuring amid high inflation and weak commercial truck business.
The French 'Erin Brockovich' vs Goodyear
For a decade, French former childcare worker Sophie Rollet carried out her own, lonely investigation to make US auto equipment group Goodyear accountable for the death of her husband, Jean-Paul, in a collision linked to the company's tires.
