Quarterly ResultMay 7, 2026, 12:27 PM
Goodyear Q1 Net Sales Down 8.7% to $3.88B; Reports $249M Net Loss
AI Summary
Goodyear reported a net loss of $249 million, or $0.86 per share, for the first quarter of 2026, a significant decline from a net income of $115 million in the prior year. Net sales decreased by 8.7% to $3.88 billion. The company initiated new rationalization plans in EMEA, global SAG, and Americas, expecting total charges of approximately $123-$133 million. Additionally, Goodyear expects a $60 million refund from IEEPA tariffs and is challenging an IRS proposed adjustment of $1.5 billion related to an intercompany IP sale.
Key Highlights
- Goodyear reported a Q1 net loss of $249 million, a swing from $115 million net income in Q1 2025.
- Basic and diluted EPS were ($0.86) for Q1 2026, compared to $0.40 in Q1 2025.
- Net sales decreased 8.7% to $3.88 billion in Q1 2026 from $4.25 billion in Q1 2025.
- Total rationalization charges were $104 million in Q1 2026, up from $81 million in Q1 2025.
- New rationalization plans in Q1 2026 include 600 net headcount reductions and a plant closure.
- Americas segment operating income fell to $37 million from $155 million year-over-year.
- Europe, Middle East and Africa segment operating income improved to $1 million from ($5 million).
- Goodyear expects a $60 million refund for IEEPA tariffs following a US Supreme Court ruling.
Price Impact
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