Goodyear Tire & Rubber - GT STOCK NEWS

The Goodyear Tire & Rubber Company announced its Q3 2020 results, revealing a sales decline of 9% year-over-year to $3.5 billion, impacted by lower volume and reduced tire shipments due to COVID-19. Net loss was $2 million compared to a net income of $88 million in Q3 2019. Adjusted net income fell to $24 million from $105 million last year. Year-to-date sales dropped 21% to $8.7 billion, with a net loss of $1.3 billion, affected by significant impairments and rationalization charges. Despite these challenges, Goodyear reported strong cash flow of $581 million in Q3 and maintained liquidity of $4.2 billion.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has been awarded the Elite Supplier designation by Lockheed Martin Aeronautics for its contributions to the F-35 Lightning II program. This honor recognizes Goodyear as one of the top 1% of Lockheed's 1,400 suppliers, highlighting its reliability and quality in delivering parts on time. The award reflects Goodyear's commitment to elite customer service and strong partnership with Lockheed Martin, emphasizing effective problem-solving and alignment of values.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has appointed KADEX Aero Supply as its new aviation distributor in Canada. This partnership aims to enhance Goodyear's market presence, leveraging KADEX's extensive distribution network since 1994. KADEX services a range of aviation operations, from general aviation to airlines, ensuring that Goodyear's aviation tires are readily accessible. With over 100 years in the aviation sector, Goodyear continues to be a leading supplier of aviation tires globally, recognized for their quality and performance.

The Goodyear Tire & Rubber Company (NASDAQ: GT) will announce its third quarter 2020 financial results on October 30, 2020. An investor conference call is scheduled for 9:15 a.m. EDT on the same day. Prior to the call, Goodyear will post relevant financial information on its investor relations website. Interested parties can access the call via the website or by phone. Goodyear is a leading tire manufacturer, operating around 46 facilities in 21 countries with approximately 62,000 employees.

The Goodyear Tire & Rubber Company (NASDAQ: GT) released its annual corporate responsibility report for 2019, showcasing its commitment to sustainable practices. Key highlights include a 90% increase in soybean oil usage, improved safety indicators, and advancements in predictive tire maintenance solutions. Additionally, Goodyear's diversity efforts led to an 84% growth in Employee Resource Group membership. The report aligns with Global Reporting Initiative standards, enhancing transparency. For more details, the full report is available online.

The Goodyear Tire & Rubber Company (NASDAQ: GT) will webcast its presentation during the Morgan Stanley Laguna Investor Conference on September 15, 2020, at 1:30 p.m. EDT. Darren R. Wells, executive vice president and chief financial officer, will provide a business overview during the event. Investors can access the live webcast on the company's investor relations website, with a replay available afterward. Goodyear employs around 62,000 people and operates 46 facilities across 21 countries, emphasizing innovation at its centers in Akron, Ohio, and Luxembourg.

Goodyear Tire & Rubber Company (NASDAQ: GT) reported a challenging second quarter and first half of 2020, largely impacted by the COVID-19 pandemic. Second-quarter sales fell 41% to $2.1 billion, with tire unit volumes down 45%. The company faced a net loss of $696 million, compared to a net income of $54 million in 2019. Operating losses and production disruptions were noted, although liquidity improved to $3.9 billion. Goodyear emphasizes ongoing investments in e-commerce and mobile installation to bolster future growth.

Goodyear (NASDAQ: GT) has announced a collaboration with B.R.M Chronographes to launch an exclusive watch collection, reflecting its motorsport heritage. The timepieces will be unveiled in September 2020, featuring designs inspired by the Algarve Pro car, a champion team in the European Le Mans Series. The collection includes two watch designs and a desk clock, showcasing durable PVD stainless steel and a tachymeter. This partnership emphasizes Goodyear's commitment to innovation and branding in the high-end market.

The Goodyear Tire & Rubber Company (NASDAQ: GT) will report its second quarter 2020 financial results on July 31, followed by an investor conference call at 9 a.m. EDT. Investors can access the relevant financial information prior to the call on the company's investor relations website. Goodyear, a leading tire manufacturer with approximately 62,000 employees and 46 facilities across 21 countries, continues to innovate with its two major Innovation Centers located in Akron, Ohio, and Colmar-Berg, Luxembourg.