| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 4.6K | 4.0% | 3.7% |
| Total Income | 4.6K | 4.0% | 3.7% |
| Expenditure | 5.4K | 28.4% | 10.9% |
| PBT | -733.00 | 340.3% | 2832.0% |
| Net Profit | -2.2K | 964.2% | 6355.9% |
| OPM | — | ||
| NPM | -47.26% | 52.94pp | 46.55pp |
| EPS | -7.62 | 965.9% | 6250.0% |
Goodyear Completes Divestiture of Chemical Business
04 May 2026 · 4 May, 8:19 am
Summary
Goodyear Tire & Rubber Company announced the completion of the divestiture of the majority of its Goodyear Chemical Business to an affiliate of Gemspring Capital Management, LLC for a purchase price of $650 million. At the time of closing, Goodyear received approximately $580 million in cash proceeds. The company surpassed initial expectations with total gross proceeds from divestitures of approximately $2.2 billion. Goodyear intends to use the transaction proceeds for debt reduction and to fund initiatives related to the Goodyear Forward transformation plan.
Key Highlights
- 1
Goodyear completed the divestiture of the majority of its Goodyear Chemical Business to an affiliate of Gemspring Capital Management, LLC for $650 million.
- 2
Goodyear received cash proceeds of approximately $580 million at closing, reflecting working capital adjustments.
- 3
Total gross proceeds from divestitures reached approximately $2.2 billion, surpassing initial expectations.
- 4
The sale included Goodyear Chemical facilities in Houston and Beaumont, Texas, and a related research office in Akron, Ohio.
- 5
Goodyear retains its Chemical facilities in Niagara Falls, New York, and Bayport, Texas, and its rights to the products produced at these facilities.
- 6
Goodyear intends to use transaction proceeds for debt reduction and to fund initiatives in connection with the Goodyear Forward transformation plan.
Management Comments
Mark Stewart
With the sale of our Chemical business, we have completed all of the planned asset sales included in our Goodyear Forward transformation program. Additionally, we surpassed initial expectations, with total gross proceeds from the divestitures of approximately $2.2 billion. As a result, we have a more focused, streamlined portfolio that will allow us to grow our core products and services and achieve our vision of being #1 in Tires and Service.”
Informational and educational content only. Not investment advice.