Goodyear First Quarter Net Sales of $3.9B, $249M Loss with $107M Program Benefits
Goodyear’s first quarter net sales were $3.9 billion with tire volumes of 34.0 million units, resulting in a $249 million net loss and $112 million adjusted loss. The company recorded $107 million of benefits from its Goodyear Forward program, while segment operating income fell to $95 million from $195 million.
1. First Quarter Financial Results
Goodyear reported first quarter net sales of $3.9 billion on 34.0 million tire units, posting a net loss of $249 million, or $0.86 per share. Adjusted net loss was $112 million, or $0.39 per share, compared to an adjusted loss of $11 million in the prior year.
2. Segment Performance and Cost Programs
Segment operating income totaled $95 million, down from $195 million year-over-year, reflecting higher inflation costs of $163 million and lower volume impacts of $159 million. Benefits from Goodyear Forward contributed $107 million, price/mix gains of $103 million and a $46 million IEEPA tariff adjustment. Regionally, Americas net sales fell 17.5% to $2.1 billion with operating income of $37 million, EMEA sales rose 6.7% to $1.4 billion with $1 million operating income, and Asia Pacific sales of $455 million generated $57 million operating income.
3. Outlook and Investor Call
CEO Mark Stewart highlighted weak OE and replacement demand in key markets and elevated raw material costs due to Middle East conflict, underscoring ongoing cost structure actions. The company will host an investor call on May 7 at 8:30 a.m. Eastern time to discuss these results and its long-term value creation plan.