Goodyear Tire & Rubr Co - GT STOCK NEWS

Goodyear (NASDAQ: GT) reported strong Q4 and full-year 2024 results. The company achieved full-year net income of $70 million ($0.24 per share) and adjusted net income of $302 million ($1.05 per share). Q4 net income was $76 million ($0.26 per share) with adjusted net income of $114 million ($0.39 per share).

Q4 sales reached $4.9 billion with tire unit volumes of 43.6 million. The company's Goodyear Forward transformation plan delivered $480 million in benefits for 2024, exceeding expectations. Q4 cash flows from operating activities were $1.3 billion.

Segment operating income for 2024 increased by $350 million to $1,318 million, driven by Goodyear Forward benefits, insurance proceeds, and favorable price/mix versus raw material costs. The company reaffirmed its expanded Goodyear Forward targets, including significant deleveraging expected in 2025.

Goodyear Tire & Rubber Company (NASDAQ: GT) has unveiled a special blimp-themed sidewall design for NASCAR stock cars to commemorate the Goodyear Blimp's 100th anniversary. The commemorative tires will be featured at NASCAR's Official Throwback Weekend at Darlington Raceway, including the Goodyear 400 and Xfinity series races.

The tires will display an image of Goodyear's first branded blimp, 'Pilgrim,' from 1925. The design will also appear at the World Endurance Challenge and European Le Mans Series events. Goodyear's three U.S. blimps will feature custom tires with gold lettering throughout 2025.

The company is launching a 'Buy for a Chance to Fly' sweepstakes, offering three winners a blimp flight certificate for two passengers and a $3,000 travel voucher. The promotion runs from January 1 through April 10, 2025, with entries available through tire purchases on Goodyear.com or through their service networks.

Goodyear Tire & Rubber Company (NASDAQ: GT) has appointed David Anckaert as Chief of Product Strategy and Planning, effective immediately. Anckaert, who will report to CEO Mark Stewart, will be responsible for leading the company's global product roadmap and lifecycle planning.

With over 23 years at Goodyear since joining in 2000, Anckaert brings extensive experience from various roles in R&D, sales, and marketing. His most recent position was vice president of the Europe, Middle East and Africa Consumer business, following roles as vice president of Commercial Europe and vice president of Consumer Replacement Europe.

In his new role, Anckaert will focus on leveraging data-driven market insights to identify opportunities, drive innovation, and develop Goodyear's global product portfolio.

Goodyear Tire & Rubber Company (GT) has announced it will release its fourth quarter and full-year 2024 financial results after market close on Thursday, February 13, 2025. The company will host an investor conference call the following day, Friday, February 14, at 9:00 a.m. ET.

The results will be published through an Earnings Release and presentation on Goodyear's investor relations website. Investors can access the call via the website or by telephone using the provided conference ID. A replay option will be available both online and via phone.

Goodyear operates globally with 68,000 employees across 53 facilities in 20 countries, supported by Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg.

Goodyear Tire & Rubber Company (NASDAQ: GT) has completed the sale of its off-the-road (OTR) tire business to The Yokohama Rubber Company for approximately $905 million in an all-cash transaction, effective February 3, 2025.

The company plans to use the proceeds to reduce debt and fund initiatives under its Goodyear Forward transformation plan. CEO Mark Stewart described the divestiture as a significant milestone in Goodyear's transformation, emphasizing that the streamlined portfolio will drive further efficiencies and enhance focus on core products and services.

Goodyear's Fleet HQ service management program has reached a significant milestone of 5 million service events across North America. The comprehensive platform, supported by over 2,300 service providers, combines advanced technology with industry expertise to manage fleet maintenance needs.

The program has evolved from an emergency roadside tire breakdown service into a full-service platform, featuring mechanical services, automated service coordination, and Conversational AI integration. Fleet HQ's capabilities include proactive maintenance identification, preventative service scheduling, emergency response, and real-time interactive dashboard reporting.

The service achieves an average response time of about two hours for most customers, helping major fleet operations maintain smooth operations and reduce downtime. The platform's success is attributed to its continuous innovation driven by insights from fleets, dealers, and industry leaders.

Goodyear (GT) is celebrating the 89th Cotton Bowl Classic with innovative tire art honoring The University of Texas and The Ohio State University. The company commissioned artist Blake McFarland to create two unique 5½-foot-tall, 200-pound helmet sculptures using over 90 Goodyear-branded tires and 3,600 staples, taking more than 400 hours to complete.

The sculptures showcase the tread patterns of Goodyear's new Assurance WeatherReady 2 tire. The event will feature interactive experiences including a Goodyear Mobile tire installation van and displays of notable vehicles like NASCAR's Garage 56, the ABB NASCAR EV Prototype, and the Tire Rack One Lap of America winning vehicle.

The helmets will be displayed during game festivities on January 10, 2025, at AT&T Stadium in Arlington, Texas, before being donated to their respective schools. The game features eighth-seeded Ohio State in their fourth appearance and fifth-seeded Texas in their 23rd appearance, kicking off at 7:30 p.m. EST on ESPN.

Goodyear Tire & Rubber Company (NASDAQ: GT) has appointed Don Metzelaar as senior vice president of Global Manufacturing and Supply Chain, effective January 13. Reporting to CEO Mark Stewart, Metzelaar will oversee Global Operations, including manufacturing, supply chain, environmental health & safety, business continuity, manufacturing engineering, and quality.

Metzelaar brings over 30 years of experience in manufacturing operations leadership. He previously served as Chief Manufacturing Officer and Global Vice President at Johnson Controls International, where he transformed manufacturing processes focusing on factory flows and systems integration. His prior experience includes operations leadership roles at Whirlpool , Honeywell International, and Motorola.

Goodyear (NASDAQ: GT) has announced the sale of its Dunlop brand to Sumitomo Rubber Industries (SRI) for approximately $701 million in cash proceeds. The transaction includes trademarks and intangible assets for consumer, commercial, and specialty tires in Europe, North America, and Oceania.

The deal structure includes $526 million for the Dunlop Brand, a $105 million Transition Fee, and approximately $70 million for inventory purchase. Goodyear will continue manufacturing Dunlop consumer tires in Europe through at least December 2025 under a Transition License Agreement, followed by a five-year Transition Offtake Agreement with SRI committing to purchase 4.5 million tires annually.

Goodyear retains rights to Dunlop trademarks for motorcycle tires in Europe and Oceania, and will license back commercial truck tire rights. The transaction, expected to close by mid-2025, aims to reduce leverage and fund the Goodyear Forward transformation plan.