Goodyear Tire & Rubber - GT STOCK NEWS

Goodyear (NASDAQ: GT) hosted its 22nd annual STEM Career Day on May 14, 2021, partnering with the International Soap Box Derby to hold a Mini-Car Championship Race. The event engaged over 1,300 students in Northeast Ohio, providing Mini Soap Box Derby Car kits for hands-on STEM learning. Participants explored weight placement and aerodynamics, competing for scholarships to accredited STEM programs. Goodyear emphasized its commitment to inspiring future generations and promoting STEM education within the community.

Goodyear Tire & Rubber Company (NASDAQ: GT) has launched a private offering of $1.45 billion in senior notes with 8- and 10-year terms to fund the acquisition of Cooper Tire & Rubber Company. The notes will be senior unsecured obligations and are subject to market conditions. Proceeds will also cover related acquisition fees and expenses. The offering is restricted to qualified institutional buyers and is not registered under the Securities Act. Forward-looking statements indicate risks, including the impact of COVID-19 and the acquisition's successful completion.

The Goodyear Tire & Rubber Company (NASDAQ: GT) reported a strong first quarter of 2021, with sales of $3.5 billion, a 15% year-over-year increase. Tire unit volumes reached 35 million, up 12% from 2020. Goodyear achieved a net income of $12 million (5 cents per share), compared to a net loss of $619 million a year prior. Adjusted net income was $102 million (43 cents per share), showing a significant recovery. Segment operating income rose to $226 million, driven by higher volumes and improved pricing. The company overcame challenges from winter storms and supply chain issues.

The Goodyear Tire & Rubber Company (NASDAQ: GT) will announce its first quarter 2021 financial results on April 30, 2021, at 9 a.m. EDT. An investor conference call will follow, with details available on their investor relations website. Investors can join via telephone or through the website. Goodyear employs around 62,000 individuals and operates 46 facilities across 21 countries, focusing on innovation in tire technology.

Goodyear and Darlington Raceway have partnered to name the spring NASCAR Cup Series race the Goodyear 400, part of NASCAR's Official Throwback Weekend on May 9. This event features a vintage “Blue Streak” sidewall tire design symbolizing the rich history of NASCAR. Goodyear, the longest-running continuous partner in NASCAR, has been integral to the sport since 1954. This marks Goodyear's first race entitlement in North America, enhancing its longstanding relationship with NASCAR and celebrating over six decades of motorsport history.

The Goodyear Tire & Rubber Company (NASDAQ: GT) held its virtual annual shareholder meeting on April 12, 2021, where 13 members were elected to the Board of Directors for one-year terms. Shareholders approved an advisory resolution on executive compensation and ratified PricewaterhouseCoopers LLP as the independent public accounting firm for 2021. However, a shareholder proposal was not approved. Goodyear operates in 21 countries, employing approximately 62,000 people, and focuses on innovation through its centers in Akron, Ohio, and Luxembourg.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has priced its public offering of $1 billion in senior notes, including $550 million due 2031 at 5.250% and $450 million due 2033 at 5.625%. The offering is set to close on April 6, 2021, pending customary conditions. Proceeds will be used to redeem $1 billion in senior notes due 2023. The notes will be senior unsecured obligations and are part of an effective registration statement filed with the SEC. The company, employing around 62,000 people, operates globally with 46 facilities in 21 countries.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has announced a public offering of $1 billion in senior notes with maturities of 10 and 12 years. The offering aims to refinance existing $1 billion 5.125% senior notes due 2023.

The proceeds will be used for full redemption at par value plus interest. The offering is subject to market conditions and will be conducted under an effective shelf registration statement.

Goodyear has launched the new EV-4M Port Handler tire, designed for improved tread wear and enhanced driver comfort in port and industrial handling operations. This model features advanced radial construction, promoting durability and reduced heat generation for long-lasting performance. The EV-4M supports high operating speeds with its increased TKPH/TMPH rating and offers superior traction and stability in all weather conditions. Available in size 450/95R25, it is suitable for various applications including straddle carriers.