Quarterly ResultAug 5, 2026, 04:23 PM
Goodyear Reports Q2 Net Loss of $204M; Announces Plant Closure
AI Summary
Goodyear reported a net loss of $204 million for the second quarter of 2026, with net sales decreasing 4.8% to $4.3 billion. The company announced the planned closure of its Fayetteville, North Carolina facility, a key part of its manufacturing footprint optimization, expected to generate approximately $270 million in annual savings by 2028. While overall results were down, the company noted improving market stability, strong performance in Asia Pacific, and $95 million in benefits from its Goodyear Forward program.
Key Highlights
- Announced planned closure of Fayetteville, NC facility, expecting ~$270M annual savings by 2028.
- Reported Q2 2026 net loss of $204 million, compared to $254 million net income in Q2 2025.
- Diluted loss per share was $(0.71), compared to $0.87 earnings per share in the prior year.
- Net sales decreased 4.8% year-over-year to $4.3 billion; organic net sales were down 1.4%.
- Total tire unit volume decreased 4.0% year-over-year to 36.5 million units.
- Segment operating income was $36 million, down from $159 million in Q2 2025.
- Americas segment reported an operating loss of $10 million, down from $141 million income YoY.
- Asia Pacific segment operating income increased to $63 million from $43 million year-over-year.
Price Impact
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