Goodyear Tire (GT) Misses Q2 EPS by 46c; provides outlook

Goodyear Tire (NASDAQ: GT) reported Q2 EPS of ($0.34), $0.46 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $4.87 billion versus the consensus estimate of $5.21 billion.

OUTLOOK

Based on first half trends, we have downgraded our industry
outlook in the second half for both consumer replacement and
commercial replacement. At the same time, we expect lower costs
in the second half than we had previously shared. We continue to
expect to achieve segment operating margin in the second half
that should bring us much closer to our near-term target of 8%.
Additionally, we expect two of our three business units--Americas
and Asia Pacific—to record meaningful improvements in margin
and exit the year with solid earnings heading into 2024.

For earnings history and earnings-related data on Goodyear Tire (GT) click here.

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