Goodyear Tire & Rubber

Goodyear Tire & Rubber Co. engages in the development, manufactures, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications. The company was founded by Frank A. Seiberling on August 29, 1898 and is headquartered in Akron, OH.

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Goodyear projects $400M free cash flow in 2023 amid market challenges

Goodyear projects $400 million in free cash flow for 2023 amid challenges in market demand and energy inflation. The company targets high-return projects in the Americas and Asia-Pacific with a $1 billion CapEx. Strategic focus on cost efficiency, product innovation, and leveraging Cooper and Goodyear strengths for market benefits shape Goodyear's outlook.

Goodyear projects improved Q2 performance amid industry challenges and opportunities

Goodyear anticipates a better performance in Q2 with improving demand and volume trends. The company is strategically managing costs and pricing strategies to enhance profitability. Strong integration outcomes and positive industry positioning are key highlights.

Goodyear faces challenges from channel destocking but sees growth opportunities

Goodyear's Q2 2023 Earnings Call highlighted challenges from channel destocking and volume weakness, offset by positive OE business performance in key markets. The company faces industry and market dynamics impacting consumer and commercial replacement volumes, particularly in Europe. Strategic reviews and a focus on maintaining pricing amid raw material cost fluctuations demonstrate proactive measures to navigate uncertainties and drive growth.

Goodyear plans strategic review amid focus on premium market segment

Goodyear Tire & Rubber's Q3 2023 Earnings Call highlighted a proactive approach to addressing risks and uncertainties, with a focus on operational efficiency and the premium market segment. While challenges in European business performance and restructuring efforts were noted, opportunities for growth and cost savings were also identified.

Goodyear Tire & Rubber reports stable market share and strategic focus

Goodyear Tire & Rubber's Q4 earnings call highlighted stable market share, strategic focus on cost efficiency, and execution of the Goodyear Forward plan. The new CEO's leadership direction and CFO's insights on market performance and future growth underscore a commitment to operational excellence. Analyst inquiries and strategic adjustments in CapEx and restructuring spending indicate a proactive stance towards addressing challenges and capitalizing on opportunities.

Goodyear reports solid Q3 performance amidst financial challenges and opportunities

Goodyear's Q3 performance reflects a mix of strengths, challenges, and opportunities in its financial outlook and operational strategies.
The company's focus on margin expansion, premium offerings, and cost-saving initiatives align with its long-term profitability goals.
While facing challenges like debt repayment and restructuring costs, Goodyear is poised to leverage opportunities for growth and efficiency.
Strategic initiatives, strong retail performance, and a resilient cash flow outlook position Goodyear for continued financial stability and potential expansion.

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Goodyear Tire & Rubber Co. engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America. The Europe, Middle East, and Africa segment focuses on the development, manufacture, distribution, and sale of tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving, mining, and industrial equipment throughout Europe, the Middle East, and Africa. The Asia Pacific segment refers to the development, manufacture, distribution, and sales of tires for automobiles, trucks, buses, aircraft, farm, earthmoving, mining, and industrial equipment throughout the Asia Pacific region. The company was founded by Frank A. Seiberling on August 29, 1898 and is headquartered in Akron, OH.

Goodyear Tire & Rubber Co will add three directors to its board in agreement with Elliott Investment Management, the company said on Tuesday, months after the activist investor disclosed a large investment.

Goodyear Tire to add three directors to settle with Elliott

Goodyear Tire & Rubber Co. GT, +0.50% has announced three additions to its board of directors and a strategic and operational review as part of the tire maker's cooperation agreement with activist investor Elliot Investment Management. The company's stock rose 0.2% Tuesday.

Goodyear announces new directors and strategic review as part of Elliot agreement

Adds Three Mutually Agreed-Upon Independent Directors Supported by Elliott Establishes New Board Committee to Oversee Strategic and Operational Review AKRON, Ohio , July 25, 2023 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear") today announced enhancements to its Board of Directors in connection with a cooperation agreement with Elliott Investment Management L.P. (together with its affiliates, collectively "Elliott").

GOODYEAR ANNOUNCES NEW DIRECTORS AND STRATEGIC AND OPERATIONAL REVIEW

Goodyear shareholders have experienced abysmal returns for nearly two decades, and the current management team appears to be as entrenched as ever. Activist investor Elliot Management has acquired a 10% stake in Goodyear and plans to appoint five independent directors, though given the company's annual meeting is next Spring, it is likely they settle before. While Elliott Management's investment horizon is not long-term, their plan to improve margins, better monetize the company's retail stores, and pay down debt will be beneficial for shareholders.

Goodyear Tire & Rubber: Normally Just A GDP Grower, But Significant Upside With Activist's Entrance

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The Cooper® WORK Series™ RHT 2 delivers more fuel efficiency and durability in high scrub applications and tough driving environments AKRON, Ohio , June 28, 2023 /PRNewswire/ -- The Goodyear Tire & Rubber Company today introduced a new addition to the Cooper® WORK Series™ line, the WORK Series Regional Haul Trailer (RHT) 2. Available now, the new hard-working trailer tire is SmartWay® verified and designed to help fleet owners meet regional haul demands in both tandem and spread axle trailer applications.

GOODYEAR ADDS HARD WORKING REGIONAL HAUL TRAILER TIRE TO COOPER® WORK SERIES™ LINE

AKRON, Ohio , June 27, 2023 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today released its report on corporate responsibility performance for 2022. The report details how by integrating sustainability throughout its business, the company is helping to create value for its internal and external stakeholders.

GOODYEAR SHARES PROGRESS ALONG ITS SUSTAINABILITY JOURNEY IN 2022 CORPORATE RESPONSIBILITY REPORT

The Goodyear Flight Radial Tire will be one of the approved fitments when the aircraft enters service in 2024 and will provide weight-efficient, cost-effective performance AKRON, Ohio , June 15, 2023 /PRNewswire/ -- The Goodyear Flight Radial is one of Goodyear's most advanced aviation products with technologies and features supporting dimensional stability for longer life and increased cut resistance. The tire's radial construction promotes more landings and optimized bead design offers reduced weight.

GOODYEAR SELECTED BY AIRBUS TO PROVIDE TIRES FOR THE NEW A321XLR

Tire manufacturer Goodyear has recently come under pressure from activist Elliot Investment Management. Elliott has acquired a 10% stake and is pushing for divestiture of the retail store network and margin improvements in the remaining business. Management changes and subsequent business turnaround might be likely given Goodyear's underperformance in recent years and the activist's solid track record.

Goodyear Tire & Rubber Company: Activist Pressure Might Catalyze A Turnaround

The Urban Max BSAEV offers lower rolling resistance to help extend range*, provide enhanced traction and support the increased load-carrying capacity of electric buses AKRON, Ohio , June 6, 2023 /PRNewswire/ -- Today, The Goodyear Tire & Rubber Company (NASDAQ: GT) introduced the newest EV-ready tire for communities around the country looking to drive their buses and transit fleets more efficiently while transitioning to more sustainable battery electric vehicles. The new Urban Max BSAEV (Bus Service All-Position) tire was specially designed in partnership with GILLIG, the leading manufacturer of American-built heavy-duty transit buses.

GOODYEAR LAUNCHES NEW URBAN MAX BSA(EV) BUS SERVICE ALL-POSITION TIRE FOR SELECT GILLIG ELECTRIC METRO BUSES AND EV TRANSIT FLEETS

Mexico has accepted a request from the United States to review an alleged denial of collective labor rights at U.S. tiremaker Goodyear's plant in the central state of San Luis Potosi, the country's economy and labor ministries said Thursday.

Mexico accepts U.S. trade request to review labor rights at Goodyear plant

The wireless, built-in sensor will be featured on tires for the NASCAR Garage 56 entry AKRON, Ohio , June 2, 2023 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today introduced racing tires with the first real-time intelligence capability to record tire pressure and temperature to be featured on the NASCAR Next Gen Chevrolet Camaro ZL1 Garage 56 entry in this year's 24 Hours of Le Mans to be held on June 10 – 11, 2023. The Goodyear Racing tires are outfitted with an innovative passive, non-battery, sensor cured into the tire during production.

GOODYEAR INTRODUCES FIRST REAL-TIME TIRE INTELLIGENCE CAPABILITIES AT 24 HOURS OF LE MANS

The Goodyear Tire and Rubber Company NYSE: GT stock has been choppy between $9.66 and $12.50 until the last seven months when activist investor Elliott Management called out the board of directors. Elliott sent Goodyear a letter on May 11, 2023, stating that it must pursue critical steps detailed in its Accelerating Goodyear plan.

Elliott Management Says Goodyear Tire Worth At Least $21 a Share

The Office of the United States Trade Representative (USTR) on Monday asked the Mexican government to investigate claims that labor rights are being denied at a Goodyear Tire & Rubber Co. plant in the country. The USTR petition alleges that Goodyear is obstructing workers' freedom of association and right to collective bargaining at its plant in the north central Mexican city of San Luis Potosi.

US wants labor rights investigation of Goodyear plant in Mexico

The U.S. Trade Representative's office on Monday said it has asked Mexico to investigate labor rights denial claims at a Goodyear Tire & Rubber Co plant in San Luis Potosi in the latest "rapid response" probe under North American trade rules.

USTR requests labor rights probe at Goodyear Tire plant in Mexico

Elliott detects an opportunity for tire manufacturing giant to improve its bottom line.

Elliott proposes adding new directors to Goodyear's board. How a margin-boosting plan might unfold

Shares of The Goodyear Tire & Rubber Company soared over the past two days following interest from activist investor Elliott Investment Management. The firm has taken a roughly 10% interest in Goodyear and is pushing for significant leadership and operational changes.

Goodyear Tire & Rubber Company Surges On Activist Interest

Goodyear Tire & Rubber Co has become the latest target of noted activist investor Elliott Management. The US investment management firm, which holds a 10% stake in the 125-year-old company, cited poor margin performance versus rivals, weak board oversight of management, and ill-timed tire distribution deals as reasons for its activist stance, Yahoo Finance reported.

Goodyear Tire stock inflates as rubber maker targeted by Elliott Management

Goodyear Tire & Rubber Co. ( GT , Financial) has been posting declining revenue per share and erratic earnings per share for over a decade now. Value investors have been looking for a bargain in this tire replacement stock for years, focusing on strong fundamentals and consistently high market share, but a good company does not always make a good investment, and Mr.

Goodyear Soars 20% on Elliot Management's Bold Turnaround Plan

Shares of Goodyear Tire & Rubber (NYSE: GT ) are exploding higher on the day, with GT stock up almost 20% on Thursday. At the session high, shares were up almost 30% on the day.

Can Billionaire Paul Singer Save Goodyear Tire (GT) Stock?

Goodyear Tire & Rubber Co (NASDAQ: GT) opened about 25% up this morning after Elliott Management revealed a sizable stake in the tire manufacturing company.

Goodyear stock opened 25% up today: explore why

AKRON, Ohio , May 11, 2023 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or "the Company") released the following statement regarding the letter Elliott Investment Management L.P. ("Elliott") sent to the Goodyear Board of Directors this morning: "We value input from our shareholders and regularly engage with them.

GOODYEAR COMMENTS ON LETTER FROM ELLIOTT

Goodyear (GT) misses first-quarter 2023 earnings on lower-than-anticipated sales in the Americas and Asia Pacific segments.

Goodyear (GT) Q1 Earnings Miss Estimates, Sales Rise Y/Y

Elliott Management is out with a letter to Goodyear's board, calling for an overhaul that includes a revamped board. Elliott sees the potential for Goodyear to raise margins without cutting its manufacturing footprint.

Why Goodyear Stock Is Bouncing Higher Today

Calls for Enhanced Leadership & Oversight,  Monetization of Retail Stores and Operational Review Sees $21 per Share Value-Creation Opportunity,  179% Upside to Current Share Price Full Letter and Presentation Available at AcceleratingGT.com WEST PALM BEACH, Fla. , May 11, 2023 /PRNewswire/ -- Elliott Investment Management L.P.

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