Goodyear Tire & Rubber 1Q Revenue Falls, Driven by EMEA, Americas Weakness

Dow Jones05-07

By Ben Glickman

Goodyear Tire & Rubber said its sales fell more than expected in the first quarter after industry weakness in commercial trucking hit its largest segments.

The Akron, Ohio-based tire-maker reported a loss of $57 million, or 20 cents a share, in the quarter ended March 31, compared with a loss of $101 million, or 35 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 11 cents.

Stripping out certain one-time items, the company posted an adjusted profit of 10 cents a share, compared with the 1-cent loss expected by analysts surveyed by FactSet.

Revenue fell 8% to $4.54 billion, missing the $4.78 million expected by analysts polled by FactSet.

Sales in the company's Americas segment were down 9.7%, driven by lower replacement volumes and unfavorable price/mix due to industry weakness in commercial trucking.

In Europe, sales were down 9.7% due to similar factors, while Asia Pacific sales rose 3.4% from a year earlier on higher original equipment volume.

Goodyear said electric-vehicle fitments in China drove higher volumes in original equipment.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

May 06, 2024 16:45 ET (20:45 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2433239589?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-07 04:45","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2433239589","market":"us","top_or_hot":-1,"title":"Goodyear Tire & Rubber 1Q Revenue Falls, Driven by EMEA, Americas Weakness","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Ben Glickman \n</p>\n<pre>\n \n</pre>\n<p>\n  Goodyear Tire &amp; Rubber said its sales fell more than expected in the first quarter after industry weakness in commercial trucking hit its largest segments. \n</p>\n<p>\n  The Akron, Ohio-based tire-maker reported a loss of $57 million, or 20 cents a share, in the quarter ended March 31, compared with a loss of $101 million, or 35 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 11 cents. \n</p>\n<p>\n  Stripping out certain one-time items, the company posted an adjusted profit of 10 cents a share, compared with the 1-cent loss expected by analysts surveyed by FactSet. \n</p>\n<p>\n  Revenue fell 8% to $4.54 billion, missing the $4.78 million expected by analysts polled by FactSet. \n</p>\n<p>\n  Sales in the company's Americas segment were down 9.7%, driven by lower replacement volumes and unfavorable price/mix due to industry weakness in commercial trucking. \n</p>\n<p>\n  In Europe, sales were down 9.7% due to similar factors, while Asia Pacific sales rose 3.4% from a year earlier on higher original equipment volume. \n</p>\n<p>\n  Goodyear said electric-vehicle fitments in China drove higher volumes in original equipment. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Ben Glickman at ben.glickman@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 06, 2024 16:45 ET (20:45 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goodyear Tire & Rubber 1Q Revenue Falls, Driven by EMEA, Americas Weakness</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoodyear Tire & Rubber 1Q Revenue Falls, Driven by EMEA, Americas Weakness\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-07 04:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Ben Glickman \n\n\n \n\n\n  Goodyear Tire & Rubber said its sales fell more than expected in the first quarter after industry weakness in commercial trucking hit its largest segments. \n\n\n  The Akron, ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GT","symbol_name":"固特异轮胎橡胶公司","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2433239589","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433239589","pubTimestamp":1715028300,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Goodyear Tire & Rubber said its sales fell more than expected in the first quarter after industry weakness in commercial trucking hit its largest segments.The Akron, Ohio-based tire-maker reported a loss of $57 million, or 20 cents a share, in the quarter ended March 31, compared with a loss of $101 million, or 35 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 11 cents.Stripping out certain one-time items, the company posted an adjusted profit of 10 cents a share, compared with the 1-cent loss expected by analysts surveyed by FactSet.Revenue fell 8% to $4.54 billion, missing the $4.78 million expected by analysts polled by FactSet.Sales in the company's Americas segment were down 9.7%, driven by lower replacement volumes and unfavorable price/mix due to industry weakness in commercial trucking.In Europe, sales were down 9.7% due to similar factors, while Asia Pacific sales rose 3.4% from a year earlier on higher original equipment volume.Goodyear","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"GT":"固特异轮胎橡胶公司"},"translate_title":"固特异轮胎橡胶公司1Q营收下滑，受EMEA和美洲疲软的影响","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TFmain":1,"GT":1},"content_text":"By Ben Glickman \n\n\n \n\n\n  Goodyear Tire & Rubber said its sales fell more than expected in the first quarter after industry weakness in commercial trucking hit its largest segments. \n\n\n  The Akron, Ohio-based tire-maker reported a loss of $57 million, or 20 cents a share, in the quarter ended March 31, compared with a loss of $101 million, or 35 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 11 cents. \n\n\n  Stripping out certain one-time items, the company posted an adjusted profit of 10 cents a share, compared with the 1-cent loss expected by analysts surveyed by FactSet. \n\n\n  Revenue fell 8% to $4.54 billion, missing the $4.78 million expected by analysts polled by FactSet. \n\n\n  Sales in the company's Americas segment were down 9.7%, driven by lower replacement volumes and unfavorable price/mix due to industry weakness in commercial trucking. \n\n\n  In Europe, sales were down 9.7% due to similar factors, while Asia Pacific sales rose 3.4% from a year earlier on higher original equipment volume. \n\n\n  Goodyear said electric-vehicle fitments in China drove higher volumes in original equipment. \n\n\n \n\n\n  Write to Ben Glickman at ben.glickman@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  May 06, 2024 16:45 ET (20:45 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433239589"}