Welcome to our dedicated page for Goodyear Tire & Rubber news (Ticker: GT), a resource for investors and traders seeking the latest updates and insights on Goodyear Tire & Rubber stock.
Goodyear Tire & Rubber Company (NASDAQ: GT) stands as one of the world's largest tire manufacturers, renowned for its innovation and tire technology. With its headquarters in Akron, Ohio, USA, Goodyear operates 50 plants in 22 countries, affirming its global footprint. The company's extensive product lineup includes tires for automobiles, trucks, buses, aircraft, motorcycles, mining equipment, farm equipment, and industrial machinery.
Founded in 1898, Goodyear has sustained a legacy of excellence in tire manufacturing. Its operations are divided into three primary segments: Americas; Europe, the Middle East, and Africa (EMEA); and the Asia Pacific. Each segment caters to the specific needs of its regional markets, ensuring high standards of performance and safety.
Recent achievements spotlight Goodyear's commitment to innovation. The company, in collaboration with ZF, a global leader in vehicle systems, successfully integrated Goodyear SightLine—a suite of tire intelligence technologies—with ZF's cubiX® vehicle motion control software. This synergy enhances driving dynamics and safety by providing real-time tire and road data to the vehicle’s chassis system.
Goodyear’s dedication to product quality is further exemplified by the launch of the GP-3E tire line, designed for off-the-road (OTR) applications. This versatile tire offers enhanced treadwear and traction, tailored to meet the demanding conditions of construction and material handling jobs.
Financially, Goodyear reported a net loss of $57 million in the first quarter of 2024, an improvement from the previous year. The company's
Goodyear Tire & Rubber Company (NASDAQ: GT) reported a strong third quarter for 2021 with sales reaching $4.9 billion, up 42% year-over-year, thanks to the Cooper Tire merger. Tire unit volumes increased by 32% to 48.2 million, with a notable 44% rise in replacement tire volumes. Net income surged to $132 million (46 cents per share) from a net loss of $2 million a year earlier. Segment operating income rose to $372 million, driven by improved pricing and volume, despite ongoing inflation and raw material cost challenges. Year-to-date sales were $12.4 billion, a 43% increase compared to 2020.
Goodyear Tire & Rubber Company (NASDAQ: GT) partnered with Stark Area Regional Transit Authority (SARTA) to test intelligent tire sensors and prototype tires on SARTA's fleet of diesel and hydrogen fuel cell buses. This collaboration will utilize Goodyear's TPMS Plus technology to provide real-time tire condition data, optimizing maintenance and potentially reducing operational costs. Initial tests indicate improvements in fuel efficiency and reductions in bus breakdowns. The project aims to enhance safety, sustainability, and efficiency within public transportation.
At the 2021 SEMA Show, Goodyear's Mickey Thompson Tires & Wheels' Baja Legend EXP won the Best New Product Award in the Tire and Related Product category. The ET Street Front drag tire and Cooper Tire's Discoverer Snow Claw were recognized as Runner-Ups. This achievement marks a clean sweep for Goodyear in this category. Dominick Wycoff, president of Mickey Thompson, stated their commitment to innovation and quality in tire manufacturing, emphasizing the performance capabilities of their products.
Goodyear (NASDAQ: GT) has partnered with Waze to enhance the college football experience through a new navigation voice option featuring Kirk Herbstreit. Available until January 31, 2022, this collaboration allows fans to navigate to all 129 Division 1 college football stadiums, marked on the Waze map. Additionally, users can select a Goodyear Blimp icon for directions. In conjunction, Goodyear is hosting a 'Road to Greatness' sweepstakes until November 13, 2021, offering fans the chance to win tickets to major college football events.
The Goodyear Tire & Rubber Company (NASDAQ: GT) is set to report its third-quarter financial results on November 5, 2021. An investor conference call will follow at 9:30 a.m. EDT, with financial information available on their investor relations website. Goodyear is recognized as one of the largest tire manufacturers globally, with a workforce of approximately 72,000 and operations in 55 facilities across 23 countries. The company's innovation centers in Akron and Luxembourg focus on developing advanced tire technologies.
Goodyear Tire & Rubber Company (NASDAQ: GT) launched its new RT-3B bead-to-bead retread, designed for loaders and graders, enhancing its off-the-road (OTR) tire portfolio. The RT-3B provides significant cost savings of up to 60% compared to new tires, while promoting sustainability by reducing waste. Available in two sizes, 20.5R25 and 23.5R25, the retread features low heat generation, cut-resistance, and extended tire life. Goodyear, with decades of experience in retreading, aims to drive efficiency and lower ownership costs for its OTR customers.
The Goodyear Tire & Rubber Company (NASDAQ: GT) is inviting nominations for its 2020-2021 Highway Hero Award, honoring professional truck drivers who have selflessly acted for others on highways in North America. Nominations are open until Dec. 31, 2021, with winners announced in early 2022. The award, established decades ago, recognizes truck drivers' crucial roles in the trucking industry and highlights acts of heroism. Eligible nominees must reside in the U.S. or Canada and meet specific criteria. For more details, visit GoodyearTruckTires.com.
Cooper Tire has launched the Roadmaster RM832+ EM™, a SmartWay Verified steer tire designed for commercial long-haul use. It features an 18/32nds tread depth and a wide footprint for improved weight distribution and treadwear. The tire incorporates a patent-pending decoupling rib for durability and fuel efficiency, bolstered by Energy Max compounding that meets U.S. greenhouse gas standards. Available in seven sizes starting October 4, 2021, it also offers a six-year, two-retread warranty.
Goodyear (NASDAQ: GT) and Gatik announced a multi-year collaboration aimed at enhancing mobility solutions for the autonomous B2B short-haul logistics sector. This partnership seeks to improve safety and sustainability in goods movement while reducing costs for Gatik's customers. Goodyear Ventures participated in Gatik's Series B funding, enabling joint projects utilizing Goodyear SightLine technology, which monitors tire performance in real-time. This collaboration is expected to enhance operational efficiencies and safety for Gatik's expanding fleet across North America.
The Goodyear Tire & Rubber Company (NASDAQ: GT) announced the adoption of 100% renewable energy at its plants in Europe and Turkey by 2022. This initiative is part of a broader climate strategy aiming to cut carbon emissions intensity by 25% from 2010 levels by 2023. With the purchase of approximately 700,000 megawatt-hours of renewable electricity, Goodyear expects to reduce its carbon footprint by up to 260,000 tons. The first phase includes plants in France, Germany, Luxembourg, Poland, Slovenia, Turkey, and the Netherlands.
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