Goodyear Announces Q4 2024 and Full-Year 2024 Results
Full year Goodyear net income of $70 million (24 cents per share); adjusted net income of $302 million ($1.05 per share)
Fourth quarter Goodyear net income of $76 million (26 cents per share); adjusted net income of $114 million (39 cents per share)
Full year Segment Operating Margin expansion across all three business units
Goodyear Forward drives 2024 benefits of $480 million, exceeding plan
Fourth quarter cash flows from operating activities of $1.3 billion
Company reaffirms expanded Goodyear Forward targets, significant deleveraging expected in 2025
AKRON, Ohio, Feb. 13, 2025 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) reported fourth quarter 2024 results today and the company will host an investor call tomorrow morning at 9:00 a.m. eastern time led by Mark Stewart, Goodyear's chief executive officer and president, and Christina Zamarro, the company's executive vice president and chief financial officer. The management team will share insights on fourth quarter performance and progress on the Goodyear Forward transformation plan.
"As I reflect on my first year at Goodyear, I am pleased with the progress we have made. We exceeded our full year 2024 Goodyear Forward expectations and raised our targets for 2025, grew earnings and segment operating margins across all business units, and successfully reached agreements to divest non-core assets as part of our comprehensive strategic review. Moving forward, we remain committed to achieving our expanded Goodyear Forward targets, including further margin expansion and meaningful debt reduction," said Chief Executive Officer and President Mark Stewart.
Goodyear's fourth quarter 2024 sales were $4.9 billion, with tire unit volumes totaling 43.6 million. Fourth quarter 2024 Goodyear net income was $76 million (26 cents per share) compared to a Goodyear net loss of $291 million ($1.02 per share) a year ago. The fourth quarter of 2024 included several significant items including, on a pre-tax basis, rationalization charges of $34 million and Goodyear Forward costs of $31 million. The fourth quarter of 2023 included, on a pre-tax basis, goodwill impairment charges of $230 million and rationalization charges of $200 million. Goodyear Forward costs are comprised of advisory, legal and consulting fees and costs associated with planned asset sales.
Fourth quarter 2024 adjusted net income was $114 million compared to adjusted net income of $135 million in the prior year's quarter. Adjusted earnings per share was $0.39, compared to $0.47 in the prior year's quarter. Per share amounts are diluted.
The company reported segment operating income of $385 million in the fourth quarter of 2024, up $2 million from a year ago. Segment operating income reflects benefits of $195 million from the Goodyear Forward transformation plan and $52 million from business interruption insurance proceeds related to storm damage in prior years. These were partly offset by unfavorable price/mix versus raw material costs of $149 million, lower tire volume of $42 million and unabsorbed fixed costs of $39 million.
Additional earnings materials can be found on Goodyear's investor relations website at http://investor.goodyear.com.
Full-Year Results
Goodyear's 2024 sales were $18.9 billion with tire unit volumes totaling 166.6 million. 2024 Goodyear net income was $70 million (24 cents per share) compared to a Goodyear net loss of $689 million ($2.42 per share) a year ago. The year over year improvement was driven by increases in segment operating income. 2024 net income included several significant items including, on a pre-tax basis, an intangible asset impairment of $125 million, Goodyear Forward costs of $124 million, rationalization charges of $86 million, and a benefit of $85 million from asset and other sales. Full-year 2023 Goodyear net income included, on a pre-tax basis, rationalization charges of $502 million and a goodwill impairment of $230 million.
Goodyear 2024 adjusted net income was $302 million compared to adjusted net income of $61 million in the prior year. Adjusted earnings per share was $1.05, compared to $0.21 in the prior year.
The company reported segment operating income of $1,318 million for 2024, up $350 million from a year ago. The increase in segment operating income reflects benefits of $480 million from the Goodyear Forward transformation plan, $121 million from insurance proceeds, net of current year expenses, and $86 million from net price/mix versus raw material costs. These were partly offset by $220 million of increased inflationary costs and lower tire volume of $185 million.
Full-year 2024 cash flows from operating activities was $698 million compared with $1,032 million in 2023.
Reconciliation of Non-GAAP Financial Measures
See "Non-GAAP Financial Measures" and "Financial Tables" for further explanation and reconciliation tables for historical Total Segment Operating Income and Margin; Adjusted Net Income (Loss); and Adjusted Diluted Earnings per Share, reflecting the impact of certain significant items on the 2024 and 2023 periods.
Business Segment Results
AMERICAS
Fourth Quarter Full -Year
(In millions) 2024 2023 2024 2023
Tire Units 22.0 23.1 81.6 87.3
Net Sales $2,890 $3,067 $11,033 $11,993
Segment Operating Income 262 309 933 749
Segment Operating Margin 9.1 % 10.1 % 8.5 % 6.2 %
Americas' fourth quarter 2024 sales of $2.9 billion were 5.8% lower, driven by declines in replacement volume and unfavorable price/mix. Tire unit volume decreased 4.8%. Replacement tire unit volume decreased 7.0%, reflecting USTMA member declines in the U.S. Non-USTMA members, generally representing low-cost imported product, grew significantly in the quarter in the U.S. Original equipment unit volumes were up 8.5%, reflecting new fitment wins and a weak U.S. comparable related to the UAW strike in 2023.
Fourth quarter 2024 segment operating income of $262 million decreased $47 million from the prior year's quarter. The decrease was driven by lower volume, unfavorable price/mix and raw material costs, and general inflation. These headwinds were largely offset by Goodyear Forward savings. Segment operating income in 2024 also included $52 million of insurance claim recoveries, primarily related to the 2023 Tupelo storm.
EMEA
Fourth Quarter Full -Year
(In millions) 2024 2023 2024 2023
Tire Units 12.6 12.4 48.9 49.9
Net Sales $1,451 $1,399 $5,425 $5,606
Segment Operating Income 41 6 108 17
Segment Operating Margin 2.8 % 0.4 % 2.0 % 0.3 %
EMEA's fourth quarter 2024 sales of $1.5 billion were 3.7% higher, driven by increased tire volume and favorable price/mix. Tire unit volume increased 1.5%. Replacement unit volumes increased 2.7%, reflecting strong winter tire demand in consumer. Original equipment unit volumes decreased 1.6%, reflecting lower OEM production.
Fourth quarter 2024 segment operating income of $41 million was up $35 million compared to the prior year's quarter. Segment operating income benefitted from the Goodyear Forward plan and the recovery from last year's fire at the Debica, Poland facility. These benefits were partly offset by unfavorable price/mix versus raw material costs.
ASIA PACIFIC
Fourth Quarter Full -Year
(In millions) 2024 2023 2024 2023
Tire Units 9.0 9.9 36.1 36.1
Net Sales $606 $650 $2,420 $2,467
Segment Operating Income 82 68 277 202
Segment Operating Margin 13.5 % 10.5 % 11.4 % 8.2 %
Asia Pacific's fourth quarter 2024 sales of $606 million were 6.8% lower, driven by lower replacement volume. Tire unit volume decreased 9.3%. Replacement tire unit volume decreased 17.1%, driven by actions taken to reduce lower margin business and channel destocking. Original equipment unit volume remained relatively flat.
Fourth quarter 2024 segment operating income of $82 million was up $14 million from prior year driven by benefits from Goodyear Forward and lower other costs. These factors were partly offset by lower volume.
Goodyear Forward
Goodyear Forward is a transformation plan designed to deliver significant margin expansion, optimize the company's portfolio, and reduce leverage to drive substantial shareholder value creation. Goodyear Forward is expected to deliver $1.5 billion in annual run-rate benefits driven by cost actions and margin expansion, segment operating margin of 10%, gross proceeds in excess of $2 billion from portfolio optimization, and a net leverage ratio of 2.0x to 2.5x, all by the end of 2025.
In 2024, several actions were taken to drive significant progress on the Goodyear Forward plan. Segment operating income in 2024 reflects Goodyear Forward benefits of $480 million. Definitive agreements were reached to divest two non-core assets identified during the company's comprehensive strategic review, and on February 3, 2025, the sale of the off-the-road tire business to The Yokohama Rubber Company successfully closed. The sale of the Dunlop brand to Sumitomo Rubber Industries is anticipated to close by mid-2025.
Conference Call
The Company will host an investor call on Friday, February 14 at 9:00 a.m. ET. Please visit Goodyear's investor relations website: http://investor.goodyear.com, for additional earnings materials.
Participating in the conference call will be Mark W. Stewart, chief executive officer and president, and Christina L. Zamarro, executive vice president and chief financial officer.
The investor call can be accessed on the website or via telephone by calling either (800) 579-2543 or (785) 424-1789 before 8:55 a.m. and providing the conference ID "Goodyear." A replay will be available by calling (800) 934-4245 or (402) 220-1173. The replay will also be available on the website.
About Goodyear
Goodyear is one of the world's largest tire companies. It employs about 68,000 people and manufactures its products in 53 facilities in 20 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.
Forward-Looking Statements
Certain information contained in this news release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully the Goodyear Forward plan and our other strategic initiatives, including the sales of the Dunlop brand and our chemical business; risks relating to the ability to consummate the sale of the Dunlop brand on a timely basis or at all, including failure to obtain the required regulatory approvals or to satisfy other conditions to closing; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; changes in tariffs, trade agreements or trade restrictions; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.
Non-GAAP Financial Measures (unaudited)
This news release presents non-GAAP financial measures, including Total Segment Operating Income and Margin, Adjusted Net Income (Loss), and Adjusted Diluted Earnings Per Share (EPS), which are important financial measures for the company but are not financial measures defined by U.S. GAAP, and should not be construed as alternatives to corresponding financial measures presented in accordance with U.S. GAAP.
Total Segment Operating Income is the sum of the individual strategic business units' (SBUs') Segment Operating Income as determined in accordance with U.S. GAAP. Total Segment Operating Margin is Total Segment Operating Income divided by Net Sales as determined in accordance with U.S. GAAP. Management believes that Total Segment Operating Income and Margin are useful because they represent the aggregate value of income created by the company's SBUs and exclude items not directly related to the SBUs for performance evaluation purposes. The most directly comparable U.S. GAAP financial measures to Total Segment Operating Income and Margin are Goodyear Net Income (Loss) and Return on Net Sales (which is calculated by dividing Goodyear Net Income (Loss) by Net Sales).
Adjusted Net Income (Loss) is Goodyear Net Income (Loss) as determined in accordance with U.S. GAAP adjusted for certain significant items. Adjusted Diluted Earnings Per Share (EPS) is the company's Adjusted Net Income (Loss) divided by Weighted Average Shares Outstanding-Diluted as determined in accordance with U.S. GAAP. Management believes that Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share (EPS) are useful because they represent how management reviews the operating results of the company excluding the impacts of rationalizations, asset write-offs, accelerated depreciation, impairments, asset sales and certain other significant items.
It should be noted that other companies may calculate similarly-titled non-GAAP financial measures differently and, as a result, the measures presented herein may not be comparable to such similarly-titled measures reported by other companies. See the following tables for reconciliations of historical Total Segment Operating Income and Margin, Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share to the most directly comparable U.S. GAAP financial measures.
The Goodyear Tire & Rubber Company and Subsidiaries
Financial Tables (Unaudited)
Table 1: Consolidated Statement of Operations
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Three Months Ended
Year Ended
December 31,
December 31,
(In millions, except per share amounts) 2024 2023 2024 2023
Net Sales $4,947 $5,116 $18,878 $20,066
Cost of Goods Sold 3,958 4,070 15,176 16,557
Selling, Administrative and General Expense 692 769 2,782 2,814
Goodwill and Intangible Asset Impairment - 230 125 230
Rationalizations 34 200 86 502
Interest Expense 131 129 522 532
Other (Income) Expense 40 26 32 108
Income (Loss) before Income Taxes 92 (308) 155 (677)
United States and Foreign Tax Expense (Benefit) 20 (12) 95 10
Net Income (Loss) 72 (296) 60 (687)
Less: Minority Shareholders' Net Income (Loss) (4) (5) (10) 2
Goodyear Net Income (Loss) $76 $(291) $70 $(689)
Goodyear Net Income (Loss) - Per Share of Common Stock
Basic $0.27 $(1.02) $0.24 $(2.42)
Weighted Average Shares Outstanding 287 285 287 285
Diluted $0.26 $(1.02) $0.24 $(2.42)
Weighted Average Shares Outstanding 288 285 288 285
Table 2: Consolidated Balance Sheets
---
December 31, December 31,
(In millions, except share data) 2024 2023
Assets:
Current Assets:
Cash and Cash Equivalents $810 $902
Accounts Receivable, less Allowance - $84 ($102 in 2023) 2,482 2,731
Inventories:
Raw Materials 755 785
Work in Process 213 206
Finished Products 2,629 2,707
3,597 3,698
Assets Held for Sale 466
Prepaid Expenses and Other Current Assets 277 319
Total Current Assets 7,632 7,650
Goodwill 756 781
Intangible Assets 805 969
Deferred Income Taxes 1,686 1,630
Other Assets 1,052 1,075
Operating Lease Right-of-Use Assets 951 985
Property, Plant and Equipment, less Accumulated Depreciation - $12,212 ($12,472 in 2023) 8,082 8,492
Total Assets $20,964 $21,582
Liabilities:
Current Liabilities:
Accounts Payable - Trade $4,052 $4,326
Compensation and Benefits 606 663
Other Current Liabilities 1,089 1,165
Notes Payable and Overdrafts 558 344
Operating Lease Liabilities due Within One Year 200 200
Long Term Debt and Finance Leases due Within One Year 832 449
Total Current Liabilities 7,337 7,147
Operating Lease Liabilities 804 825
Long Term Debt and Finance Leases 6,392 6,831
Compensation and Benefits 789 974
Deferred Income Taxes 108 83
Other Long Term Liabilities 628 885
Total Liabilities 16,058 16,745
Commitments and Contingent Liabilities
Shareholders' Equity:
Goodyear Shareholders' Equity:
Common Stock, no par value:
Authorized, 450 million shares, Outstanding shares - 285 million in 2024 (284 million in 2023) 285 284
Capital Surplus 3,159 3,133
Retained Earnings 5,156 5,086
Accumulated Other Comprehensive Loss (3,844) (3,835)
Goodyear Shareholders' Equity 4,756 4,668
Minority Shareholders' Equity - Nonredeemable 150 169
Total Shareholders' Equity 4,906 4,837
Total Liabilities and Shareholders' Equity $20,964 $21,582
Table 3: Consolidated Statements of Cash Flows
---
Year Ended
December 31,
(In millions) 2024 2023
Cash Flows from Operating Activities:
Net Income (Loss) $60 $(687)
Adjustments to Reconcile Net Income (Loss) to Cash Flows from Operating Activities:
Depreciation and Amortization 1,049 1,001
Amortization and Write-Off of Debt Issuance Costs 14 15
Goodwill and Intangible Asset Impairment 125 230
Provision for Deferred Income Taxes (65) (230)
Net Pension Curtailments and Settlements (3) 40
Net Rationalization Charges 86 502
Rationalization Payments (198) (99)
Net (Gains) Losses on Asset Sales (93) (104)
Gain on Insurance Recoveries for Damaged Property, Plant and Equipment (75)
Operating Lease Expense 326 302
Operating Lease Payments (277) (278)
Pension Contributions and Direct Payments (69) (54)
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
Accounts Receivable 127 (59)
Inventories (122) 908
Accounts Payable - Trade (87) (550)
Compensation and Benefits 24 48
Other Current Liabilities (151) 158
Other Assets and Liabilities 27 (111)
Total Cash Flows from Operating Activities 698 1,032
Cash Flows from Investing Activities:
Capital Expenditures (1,188) (1,050)
Insurance Recoveries for Damaged Property, Plant and Equipment 62
Cash Proceeds from Sale and Leaseback Transactions 16 99
Asset Dispositions 115 16
Short Term Securities Acquired (97)
Short Term Securities Redeemed 2 94
Long Term Securities Acquired (11)
Long Term Securities Redeemed 4 6
Notes Receivable (23) (79)
Other Transactions 7 (13)
Total Cash Flows from Investing Activities (1,005) (1,035)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred 1,326 954
Short Term Debt and Overdrafts Paid (1,095) (1,009)
Long Term Debt Incurred 14,420 9,932
Long Term Debt Paid (14,387) (10,220)
Common Stock Issued (3) (2)
Transactions with Minority Interests in Subsidiaries (8) (3)
Debt Related Costs and Other Transactions (28) 15
Total Cash Flows from Financing Activities 225 (333)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (39) 10
Net Change in Cash, Cash Equivalents and Restricted Cash (121) (326)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period 985 1,311
Cash, Cash Equivalents and Restricted Cash at End of the Period $864 $985
Table 4: Reconciliation of Segment Operating Income & Margin
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Three Months Ended Year Ended
December 31, December 31,
(In millions) 2024 2023 2024 2023
Total Segment Operating Income $385 $383 $1,318 $968
Less:
Goodwill and Intangible Asset Impairment 230 125 230
Rationalizations 34 200 86 502
Interest Expense 131 129 522 532
Other (Income) Expense 40 26 32 108
Asset Write-Offs, Accelerated Depreciation, and Accelerated Lease Costs, Net 27 15 146 36
Corporate Incentive Compensation Plans 12 27 62 70
Retained Expenses of Divested Operations 4 8 15 18
Other 45 56 175 149
Income (Loss) before Income Taxes $92 $(308) $155 $(677)
United States and Foreign Tax Expense (Benefit) 20 (12) 95 10
Less: Minority Shareholders' Net Income (Loss) (4) (5) (10) 2
Goodyear Net Income (Loss) $76 $(291) $70 $(689)
Net Sales $4,947 $5,116 $18,878 $20,066
Return on Net Sales 1.5 % -5.7 % 0.4 % -3.4 %
Total Segment Operating Margin 7.8 % 7.5 % 7.0 % 4.8 %
Table 5: Reconciliation of Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share
Fourth Quarter 2024
---
(In millions, except As Rationalizations, Goodyear Forward Asset and Pension Indirect Tax Americas As
per share amounts) Reported Asset Write-offs, Costs Other Sales Settlement Settlements Storm Adjusted
Accelerated Charges and Discrete Insurance
Depreciation and Tax Items Recoveries
Leases
Net Sales $4,947
$ -
$ -
$ -
$ -
$ -
$ - $4,947
Cost of Goods Sold 3,958 (21) 52 3,989
Gross Margin 989 21 (52) 958
SAG 692 (7) (25) 660
Rationalizations 34 (34)
Interest Expense 131 131
Other (Income) Expense 40 (6) (2) (2) 30
Pre-tax Income (Loss) 92 62 31 2 2 (52) 137
Taxes 20 2 7 8 (12) 25
Minority Interest (4) 2 (2)
Goodyear Net Income (Loss) $76 $58 $24 $2 $2 $(8) $(40) $114
EPS $0.26 $0.20 $0.08 $0.01 $0.01 $(0.03) $(0.14) $0.39
Fourth Quarter 2023
(In millions, except As Goodwill Rationalizations, Goodyear Debica Fire Other Legal Environmental Indirect Tax Asset and As
per share amounts) Reported Impairment Asset Write-offs, Forward Impact Claims Remediation Settlements Other Sales Adjusted
and Accelerated Costs Adjustment and Discrete
Depreciation Tax Items
Net Sales $5,116
$ -
$ -
$ - $12
$ -
$ -
$ -
$ - $5,128
Cost of Goods Sold 4,070 (16) (3) (7) 4,044
Gross Margin 1,046 16 15 7 1,084
SAG 769 (35) 734
Goodwill Impairment 230 (230)
Rationalizations 200 (200)
Interest Expense 129 129
Other (Income) Expense 26 (12) 37 51
Pre-tax Income (Loss) (308) 230 216 35 15 12 7 (37) 170
Taxes (12) 14 25 9 2 3 2 4 (9) 38
Minority Interest (5) 1 1 (3)
Goodyear Net Income (Loss) $(291) $216 $190 $26 $12 $9 $5 $(4) $(28) $135
EPS $(1.02) $0.75 $0.66 $0.09 $0.04 $0.03 $0.02 $(0.01) $(0.09) $0.47
Table 5: Reconciliation of Adjusted Net Income (Loss) and Adjusted Diluted Earnings Per Share (continued)
Full-Year 2024
---
(In millions, except As Rationalizations, Intangible Goodyear South Africa Pension Indirect Tax Debica Fire Asset and Americas As
per share amounts) Reported Asset Write-offs, Asset Forward Flood Impact Settlement Settlements Impact and Other Sales Storm Adjusted
Accelerated Impairment Costs Credits and Discrete Insurance Insurance
Depreciation and Tax Items Recoveries Recoveries
Leases
Net Sales $18,878
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ - $18,878
Cost of Goods Sold 15,176 (116) (3) 8 26 92 15,183
Gross Margin 3,702 116 3 (8) (26) (92) 3,695
SAG 2,782 (30) (105) 2,647
Intangible Asset Impairment 125 (125)
Rationalizations 86 (86)
Interest Expense 522 522
Other (Income) Expense 32 (19) 3 2 85 103
Pre-tax Income (Loss) 155 232 125 124 3 (3) (10) (26) (85) (92) 423
Taxes 95 18 31 30 (1) (1) (6) (25) (23) 118
Minority Interest (10) 16 (3) 3
Goodyear Net Income (Loss) $70 $198 $94 $94 $3 $(2) $(9) $(17) $(60) $(69) $302
EPS $0.24 $0.69 $0.33 $0.33 $0.01 $(0.01) $(0.03) $(0.06) $(0.21) $(0.24) $1.05
Full-Year 2023
(In millions, except As Rationalizations, Goodwill Tupelo Storm Pension Goodyear Debica Fire Other Legal Environmental Foreign Indirect Tax Asset and As
per share amounts) Reported Asset Write-offs, Impairment Impact Settlement Forward Impact Claims Remediation Currency Settlements Other Sales Adjusted
and Accelerated Charges Costs Adjustment Translation and Discrete
Depreciation Adjustment Tax Items
Write-Off
Net Sales $20,066
$ -
$ - $110
$ -
$ - $22
$ -
$ -
$ -
$ -
$ - $20,198
Cost of Goods Sold 16,557 (46) 41 (6) 3 (2) 16,547
Gross Margin 3,509 46 69 28 (3) 2 3,651
SAG 2,814 10 (35) 2,789
Goodwill Impairment 230 (230)
Rationalizations 502 (502)
Interest Expense 532 532
Other (Income) Expense 108 (40) (20) 5 94 147
Pre-tax Income (Loss) (677) 538 230 69 40 35 28 17 2 (5) (94) 183
Taxes 10 69 14 13 9 9 3 4 1 9 (25) 116
Minority Interest 2 1 1 1 1 6
Goodyear Net Income (Loss) $(689) $468 $216 $56 $30 $26 $24 $13 $1 $(5) $(10) $(69) $61
EPS $(2.42) $1.64 $0.75 $0.20 $0.11 $0.09 $0.08 $0.04 $0.01 $(0.02) $(0.03) $(0.24) $0.21
MEDIA CONTACT:
DOUG GRASSIAN
330.796.3855
DOUG_GRASSIAN@GOODYEAR.COM
ANALYST CONTACT:
GREG SHANK
330.796.5008
GREG_SHANK@GOODYEAR.COM
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SOURCE The Goodyear Tire & Rubber Company
