Goodyear Swings to $204M Q2 Loss as Tire Demand Slumps
GT sits 29% above its 52-week low of $5.43.
Summary
Goodyear posted a $204 million Q2 loss, reversing a $254 million profit a year ago, as tire volumes fell and costs rose. Adjusted loss of $0.61 per share narrowly beat the $0.63 consensus, but the miss on the bottom line is stark. Net sales slipped 4.8% to $4.25 billion, with organic volume declines driving a $132 million headwind, compounded by $100 million in higher tariffs and $53 million in inflation. This follows a $249 million Q1 loss and a recent $1.05 billion debt refinancing at 8.875%, underscoring deepening financial strain. The Fayetteville plant closure announced last month aims to cut costs, but the earnings trajectory remains sharply negative.
At the time of this announcement, GT was trading at $7.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $2B. The 52-week trading range was $5.43 to $10.62. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.