Goodyear Posts Q2 Loss of $0.61 a Share as Revenue Falls 4.8%

1 articles · Updated · Yahoo Finance · Aug 10

$4.25 billion in second-quarter sales topped analyst estimates of $4.21 billion, but Goodyear still posted a non-GAAP loss of $0.61 per share as demand stayed weak.
A -1.2% operating margin, down from 0.2% a year earlier, reflected lower volumes, weak consumer replacement tire demand in the Americas, and inflation and tariff costs.
Management said channel destocking eased from the first quarter and global tire volumes improved sequentially, but price and cost-saving gains still failed to offset volume pressure.
Goodyear is pushing further SKU cuts and plant closures, including Fayetteville, as it shifts toward higher-value tires while warning raw-material inflation and elevated taxes will keep pressuring near-term results.