Goodyear Tire & Rubber Co. Files Q3 2024 10-Q
Ticker: GT · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 42582
Sentiment: neutral
Topics: 10-Q, earnings, financials, tires
Related Tickers: GT
TL;DR
**GOODYEAR (GT) Q3 2024 10-Q FILED. Details on financials and operations released.**
AI Summary
Goodyear Tire & Rubber Co. reported its Q3 2024 results on November 5, 2024, for the period ending September 30, 2024. The company, headquartered in Akron, Ohio, operates in the tires and inner tubes industry. Key financial details and operational segments are outlined in this 10-Q filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational details for Goodyear Tire & Rubber Co., crucial for understanding the company's current standing and future outlook.
Risk Assessment
Risk Level: medium — As a publicly traded company in the automotive sector, Goodyear is subject to market fluctuations, supply chain disruptions, and competitive pressures.
Key Numbers
- Q3 2024 — Quarterly Period (Reporting period for the 10-Q filing.)
- September 30, 2024 — End of Reporting Period (The specific date through which financial information is reported.)
- November 5, 2024 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- GOODYEAR TIRE & RUBBER CO /OH/ (company) — Filer
- 20240930 (date) — Period of Report
- 20241105 (date) — Filing Date
- Akron, OH (location) — Company Headquarters
- 330-796-2121 (phone_number) — Business Phone
FAQ
What is the primary business of Goodyear Tire & Rubber Co.?
Goodyear Tire & Rubber Co. is primarily involved in the manufacturing and marketing of a wide range of tires and related products, operating within the 'Tires and Inner Tubes' industry (SIC 3011).
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on November 5, 2024.
What is the fiscal year end for Goodyear Tire & Rubber Co.?
The fiscal year end for Goodyear Tire & Rubber Co. is December 31.
Where is Goodyear Tire & Rubber Co. headquartered?
Goodyear Tire & Rubber Co. is headquartered in Akron, Ohio, with its business address listed as 200 Innovation Way, Akron, OH 44316.
What is the SEC file number for Goodyear Tire & Rubber Co.?
The SEC file number for Goodyear Tire & Rubber Co. is 001-01927.
Filing Stats: 4,649 words · 19 min read · ~15 pages · Grade level 19.6 · Accepted 2024-11-05 10:47:24
Filing Documents
- gt-20240930.htm (10-Q) — 3215KB
- gt-ex2_1.htm (EX-2.1) — 1608KB
- gt-ex10_1.htm (EX-10.1) — 321KB
- gt-ex22_1.htm (EX-22.1) — 20KB
- gt-ex31_1.htm (EX-31.1) — 34KB
- gt-ex31_2.htm (EX-31.2) — 34KB
- gt-ex32_1.htm (EX-32.1) — 16KB
- 0000950170-24-121152.txt ( ) — 17153KB
- gt-20240930.xsd (EX-101.SCH) — 1771KB
- gt-20240930_htm.xml (XML) — 3489KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES
OTHER INFORMATION
PART II. OTHER INFORMATION
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS
RISK FACTORS
ITEM 1A. RISK FACTORS
OTHER INFORMATION
ITEM 5. OTHER INFORMATION EX-2.1 EX-10.1 EX-22.1 EX-31.1 EX-31.2 EX-32.1 EX-101.INS INSTANCE DOCUMENT EX-101.SCH SCHEMA DOCUMENT EX-104 Table of Contents
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
FINANCI AL STATEMENTS
ITEM 1. FINANCI AL STATEMENTS. THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES CONSOLIDATED STATEM ENTS OF OPERATIONS (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, (In millions, except per share amounts) 2024 2023 2024 2023 Net Sales (Note 2) $ 4,824 $ 5,142 $ 13,931 $ 14,950 Cost of Goods Sold 3,881 4,171 11,218 12,487 Selling, Administrative and General Expense 663 673 2,090 2,045 Intangible Asset Impairment (Note 1) 125 — 125 — Rationalizations (Note 3) 11 198 52 302 Interest Expense 135 138 391 403 Other (Income) Expense (Note 4) 34 21 ( 8 ) 82 Income (Loss) before Income Taxes ( 25 ) ( 59 ) 63 ( 369 ) United States and Foreign Tax Expense (Note 5) 9 25 75 22 Net Income (Loss) ( 34 ) ( 84 ) ( 12 ) ( 391 ) Less: Minority Shareholders' Net Income (Loss) — 5 ( 6 ) 7 Goodyear Net Income (Loss) $ ( 34 ) $ ( 89 ) $ ( 6 ) $ ( 398 ) Goodyear Net Income (Loss) — Per Share of Common Stock Basic $ ( 0.12 ) $ ( 0.31 ) $ ( 0.02 ) $ ( 1.40 ) Weighted Average Shares Outstanding (Note 6) 287 285 286 285 Diluted $ ( 0.12 ) $ ( 0.31 ) $ ( 0.02 ) $ ( 1.40 ) Weighted Average Shares Outstanding (Note 6) 287 285 286 285 The accompanying notes are an integral part of these consolidated financial statements. 1 Table of Contents THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2024 2023 2024 2023 Net Income (Loss) $ ( 34 ) $ ( 84 ) $ ( 12 ) $ ( 391 ) Other Comprehensive Income (Loss): Foreign currency translation, net of tax of $ 3 and $ 0 in 2024 (($ 2 ) and $ 0 in 2023) 39 ( 46 ) ( 20 )