tiprankstipranks
Goodyear Reports Q3 2024 Results and Strategic Progress
Company Announcements

Goodyear Reports Q3 2024 Results and Strategic Progress

Goodyear Tire & Rubber ( (GT) ) has released its Q3 earnings. Here is a breakdown of the information Goodyear Tire & Rubber presented to its investors.

Don't Miss our Black Friday Offers:

Goodyear Tire & Rubber Company is a global tire manufacturer, known for its comprehensive product range and innovative technology, operating in the automotive sector with facilities in over 20 countries. In its third quarter of 2024, Goodyear reported a net loss of $34 million but an adjusted net income of $105 million, highlighting a shift in profitability due to strategic initiatives. The company achieved a segment operating income of $347 million, marking the fourth consecutive quarter of margin expansion, and reported significant gains from the Goodyear Forward transformation plan, which contributed $123 million. The Goodyear Forward plan, aimed at enhancing profitability and shareholder value, has increased its targets and is projected to result in substantial earnings benefits through 2025. Looking ahead, Goodyear remains focused on achieving its operational and financial goals, with a confident outlook towards meeting its margin and leverage targets by the end of 2025.

Related Articles
TheFlyGoodyear Tire awarded $134.87M Defense Logistics Agency contract
Casey Dylan, CIMAGoodyear Tire (GT) Sees Growth Despite a Drop in Tire Sales
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App