$GT

Goodyear (GT) extended its 'Goodyear Forward' turnaround plan after missing key financial targets. The company reported a $453M net loss in H1 2024, with $131M operating income (1.6% margin) and $7B debt. CEO Mark Stewart cited tariffs, raw material costs, and Chinese competition as challenges. Capital expenditures will drop to $725M in 2024 to prioritize debt reduction. Hedge funds held $277.1M in GT shares in Q2 2026, up from Q1.

Winnebago (WGO) reported Q2 revenue of $698.7M, down 9.9% YoY, missing estimates. Lucid (LCID) reported $405.3M revenue, up 56.2% YoY, beating estimates. Goodyear (GT) reported $4.25B revenue, down 4.8% YoY, surpassing expectations. All companies provided full-year guidance, with WGO's falling short of estimates.

Goodyear Tire & Rubber Co. CEO Mark Stewart discussed the company's turnaround plan, 'Goodyear Forward,' which aims to improve operating margins and generate cash flow. The company reported a net loss of $453 million for the first half of 2024 and has $7 billion in debt. Despite challenges like tariffs and raw material costs, Stewart plans to focus on premium tires and close a plant in Fayetteville, North Carolina, to improve financials. Analysts rate Goodyear a hold with a price target of $7.60

California approved new tire regulations requiring lower rolling resistance for energy efficiency, starting in 2029. The rule aims to reduce pollution and save fuel costs, but critics like Goodyear and Yokohama warn of higher tire prices and potential safety risks. Supporters, including Michelin and Gov. Newsom, argue the long-term savings outweigh the costs.

California has mandated energy efficiency standards for replacement tires, starting in 2029. The rules aim to reduce emissions and save drivers $1bn annually, according to the California Energy Commission. While supported by environmental groups and Michelin, industry groups like Goodyear and Yokohama oppose the regulations due to cost concerns. The state expects the standards to cut carbon dioxide emissions by 2m metric tons per year.

American Century entities filed a Schedule 13G for The Goodyear Tire & Rubber Company (GT), reporting beneficial ownership above 5%. American Century ETF Trust reported 14,486,193 shares, 5.0% of the class, with sole voting and dispositive power. American Century Investment Management, Inc. and American Century Companies, Inc. reported 15,153,994 shares, 5.3%, also with sole voting and dispositive power.

Goodyear Tire & Rubber (GT) reported Q2 2026 net sales of $4.3B, down 4.8%, with tire unit volume at 36.5M (down 4%). Segment operating income fell to $36M and adjusted EPS was a loss of $0.61. Management cited $95M in Goodyear Forward savings, Fayetteville closure cash costs of $190M to $210M through 2027, and issued $1B senior notes.

Guizhou Tire said its wholly owned subsidiary, Guizhou Qianjin Tire Investment, received an enterprise overseas investment certificate from Guizhou’s commerce department on Aug. 11, after other approvals and project registration. The company plans a $298.7 million Morocco passenger car tire plant in Tangier Tech City producing 6 million radial tires annually, with construction expected to start soon.

Goodyear reported Americas net sales down 10.5% to $2.4B and an operating loss of $10M versus $141M profit a year earlier, citing a 13% drop in replacement tire volume. Original-equipment volume rose 8.7%. Goodyear plans to close its Fayetteville, NC plant, expecting $90M higher Americas operating income in 2027 and $270M annually from 2028 after $535M-$565M pre-tax charges. Asia Pacific and EMEA improved.

Goodyear (GT) reported Q2 margin pressure in the Americas as consumer replacement tire demand stayed soft, while Asia Pacific delivered revenue growth and margin expansion. The company is retiring low-margin SKUs, launching premium tires, and restructuring manufacturing including Fayetteville closure. Goodyear Forward generated $95M cost savings, targeting $1.5B cumulative. It expects raw material headwinds of about $200M in 2H.