Goodyear Tire & Rubber - GT STOCK NEWS

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.

Goodyear (NASDAQ: GT) and TNO have announced a significant advancement in vehicle safety systems by integrating tire intelligence technology into automatic emergency braking (AEB). The enhancement, building on their previous integration of tire intelligence into antilock braking systems, allows AEB to function effectively across various driving conditions, including wet roads and ice.

The integration of Goodyear SightLine, the company's tire intelligence solution, enables AEB systems to make smarter decisions based on real-time tire and road condition data. Recent wet road testing shows that the enhanced system can help mitigate impacts at speeds up to 80 kph (50 mph) by engaging braking earlier.

This development positions Goodyear ahead of the National Highway Traffic Safety Administration's 2029 mandate for AEB systems in passenger vehicles, offering OEMs and tier-1 suppliers a competitive advantage in building safer vehicles.

Goodyear Tire & Rubber Company (NASDAQ: GT) has announced plans to celebrate the 100th anniversary of the Goodyear Blimp in 2025 with an extensive celebration campaign. The iconic airship will embark on a 100+ city tour across North America and Europe, making appearances at major sporting events and cultural festivals.

The company is launching a 'Buy for a Chance to Fly' sweepstakes, offering three winners a chance to join the exclusive 0.0006% of Americans who have flown in the blimp. Winners will receive a flight certificate for two and a $3,000 travel voucher. The promotion runs from January 1 through April 10, 2025.

The celebration kicks off at the 111th Rose Bowl game, marking the 70th anniversary of aerial coverage pioneered by the Goodyear Blimp in 1955. The official 100th anniversary date is June 3, 2025, commemorating the inaugural flight of Pilgrim, Goodyear's first branded blimp in 1925.

Goodyear (NASDAQ: GT) announces its 14th consecutive year partnering with the U.S. Marine Corps Reserve for Toys for Tots events at its Blimp bases in Ohio, Florida, and California. The events, scheduled for December 6-8, allow visitors to donate toys while experiencing an up-close view of the iconic Goodyear Blimp. Over the past 14 years, these toy drives have collected over 252,000 toys and raised $664,000 for the program.

The Ohio event runs December 6-8 (2-7 PM), Florida on December 7 (11 AM-5 PM), and California on December 6-7 (varying times). All locations will accept mailed toy or monetary donations. The initiative supports the Marine Toys for Tots Program's mission to distribute Christmas gifts to disadvantaged children in local communities.

Goodyear Tire & Rubber Company (NASDAQ: GT) has launched nominations for its 41st annual Highway Hero Award, celebrating commercial truck drivers who demonstrate extraordinary acts of courage. Running through December 31, 2024, the program seeks nominations for CDL holders who have gone above and beyond to help others on the road.

Eligible nominees must be full-time commercial drivers from the U.S. or Canada, operating vehicles with rim sizes greater than 19 inches, and the heroic act must occur during 2024 while on duty. The winner will receive cash prizes and a Goodyear Blimp ride, with up to two runners-up also receiving cash awards. Winners will be announced in 2025.

Goodyear (NASDAQ: GT) reported a Q3 2024 net loss of $34 million ($0.12 per share), with adjusted net income of $105 million ($0.37 per share). Sales reached $4.8 billion with tire unit volumes of 42.5 million. The company achieved segment operating income of $347 million, with an SOI margin of 7.2%, marking the fourth consecutive quarter of margin expansion. Goodyear Forward transformation targets were increased to $1.5 billion by end of 2025, up $200 million from original target. The company expects $450 million in gross benefits for 2024 and additional $750 million in 2025, maintaining its 10% SOI margin target.

Goodyear Tire & Rubber Company (NASDAQ: GT) has scheduled its third quarter 2024 financial results announcement for Monday, November 4, 2024, after market close. The company will host an investor conference call the following day, Tuesday, November 5, at 8:30 a.m. ET. Goodyear, one of the world's largest tire manufacturers with 71,000 employees and 54 facilities across 21 countries, will make the results available through an Earnings Release and presentation on their investor relations website.

Goodyear (NASDAQ: GT) has introduced the Assurance WeatherReady 2, a groundbreaking all-season tire that outperforms leading competitors in wet handling, wet braking, and dry handling. The tire features innovative All-Weather Technology and AquaTred® Technology for superior performance in various weather conditions. It has earned the Three-Peak Mountain Snowflake (3PMS) designation, indicating excellent snow traction.

The Assurance WeatherReady 2 comes with a 60,000-mile tread life warranty and a 60-day satisfaction guarantee. Available in 58 sizes for rim diameters from 16 to 22 inches, it's compatible with a wide range of popular vehicles. This new tire sets a new standard for all-season performance, offering drivers confidence and control in any weather condition.