Goodyear Tire & Rubber 株価情報 (NASDAQ: GT)

最新ニュース Goodyear Tire & Rubber (NASDAQ:GT) 株価情報

Goodyear Tire & Rubber

Goodyear Tire & Rubber Company (The)

NYSE

Goodyear Tire & Rubber Co manufactures and sells a variety of rubber tires under the Goodyear brand name. The firm's tires are used for automobiles, trucks, buses, aircraft, motorcycles, mining equipment, farm equipment, and industrial equipment. The company operates its business through three operating segments representing its regional tire businesses: Americas; Europe, the Middle East, and Africa (EMEA); and the Asia Pacific.

The Goodyear Tire & Rubber Company - Common Stock

Goodyear Tire & Rubber Co

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The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) shares are trading flat premarket on Wednesday. On Tuesday, the company entered a deal to sell its Dunlop brand to Sumitomo Rubber Industries (SRI) for cash <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/n42865505/goodyear-announces-sale-of-dunlop-brand-to-sumitomo-rubber-industries" rel="noreferrer noopener">proceeds of around $701 million</a>.
The purchase amount covers the brand transfer across Europe, North America, and Oceania, a transition support fee, and Dunlop tire inventory purchase.
The deal also includes ongoing offtake, licensing, and other commercial arrangements.
Dunlop brand includes trademarks and related intangible assets for consumer, commercial, and specialty tires across Europe, North America, and Oceania.
As per the deal, Goodyear will continue producing and distributing Dunlop consumer tires in Europe until at least December 31, 2025, paying royalties to SRI while retaining all profits.
The agreement automatically extends through December 31, 2026, unless mutually terminated earlier, giving SRI time to scale its operations.
Post-TLA, Goodyear will supply SRI with a minimum of 4.5 million Dunlop tires annually for five years under the Transition Offtake Agreement, with SRI able to terminate after three years, subject to a fee. Goodyear will earn a markup on each tire sold.
Goodyear will also retain rights to the Dunlop motorcycle tire brand in Europe and Oceania and license back Dunlop trademarks for commercial tires in Europe.
The transaction, expected to close by mid-2025, is subject to regulatory approvals, customary closing conditions, and consultations.
Goodyear plans to use the proceeds to reduce debt and support initiatives under its Goodyear Forward transformation plan.
The transaction is expected to reduce Goodyear&#8217;s segment operating income by $65 million annually during the TOA, excluding benefits from debt repayment and other initiatives.
Investors can gain exposure to the stock via&nbsp;Invesco S&amp;P Midcap 400 Pure Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RFV#NYSE">RFV</a>).
Price Action: GT shares were up 0.23% at $8.85 premarket at the last check Wednesday.
Read Next:
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</ul>
Photo via Shutterstock.

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Dunlop Brand Changes Hands: Goodyear Strikes $701 Million Deal with Sumitomo To Power Forward Plan

<ul>
<li>Gross cash proceeds at closing of approximately $701 million</li>
<li>Advances Goodyear Forward transformation plan, optimizes portfolio of brands</li>
<li>Goodyear to supply Dunlop tires to Sumitomo Rubber Industries pursuant to a five-year Transition Offtake Agreement in Europe</li>
<li>Goodyear to license back the Dunlop trademarks for use on commercial (truck) tires, and retains its rights to the Dunlop trademarks for use on motorcycle tires in Europe and Oceania</li>
</ul>

SMTUF

Reported Earlier, Goodyear Divests Dunlop Brand For $701M To Sumitomo, Retains Motorcycle Tire Rights In Europe

As a <a href="https://www.benzinga.com/news/econ-s/25/01/42769181/natural-gas-prices-surge-as-arctic-blast-freezes-us-3-stocks-on-the-move">winter storm</a> hit the central U.S. on Sunday afternoon, let&#8217;s look at the top five winter-proof stocks expected to shield investors amid extreme winter uncertainties.
<h3 class="wp-block-heading">Winter Storm Hits Kansas City</h3>
A blizzard warning was issued to remain in effect till midnight on Sunday, Jan. 5, however, the National Weather Service of Kansas City expired the blizzard warning at 10 p.m. ET with a prediction of light to occasional moderate snow in a few pockets around the area.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">10 pm: We are expiring the blizzard warning across the KC metro. That being said, quite a few pockets of light to occasionally moderate snow are hanging around. Some areas could pick up another inch or so before all is said and done. <a href="https://t.co/TGEwr45EAO">pic.twitter.com/TGEwr45EAO</a>
&mdash; NWS Kansas City (@NWSKansasCity) <a href="https://twitter.com/NWSKansasCity/status/1876117176656310528?ref_src=twsrc%5Etfw">January 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
As the U.S. is in the thick of the winter season, natural gas demand is expected to increase to meet the heating needs, and winter tiremakers apparel makers will also be in focus. Here is a list of the top 5 winter-proof stocks that can shield investors as temperature drops.
See Also: <a href="https://www.benzinga.com/news/econ-s/25/01/42769181/natural-gas-prices-surge-as-arctic-blast-freezes-us-3-stocks-on-the-move">Natural Gas Prices Surge As Arctic Blast Freezes US: 3 Stocks On The Move</a>
<h3 class="wp-block-heading">Top Five Winter Stocks</h3>
Following are the stock&#8217;s quarterly performance along with the positive and negative earnings surprises for the December quarter of the previous fiscal.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>December 2023 Quarter EPS Surprise</td>
<td>December 2023 Quarter Revenue Surprise</td>
<td>Q4 2023 Stock Performance</td>
</tr>
<tr>
<td>Range Resources</td>
<td>31.30%</td>
<td>2.25%</td>
<td>0%</td>
</tr>
<tr>
<td>Goodyear</td>
<td>30.60%</td>
<td>-5.08%</td>
<td>29.27%</td>
</tr>
<tr>
<td>Antero Resources</td>
<td>4.55%</td>
<td>2.93%</td>
<td>-6.24%</td>
</tr>
<tr>
<td>VF Corp</td>
<td>-28.70%</td>
<td>-9.20%</td>
<td>13.32%</td>
</tr>
<tr>
<td>Comstock Resources</td>
<td>-23.10%</td>
<td>3.04%</td>
<td>-16.43%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/06042212/Stock-Performance-1024x576.png" alt="" class="wp-image-719143" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/06042212/Stock-Performance-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/06042212/Stock-Performance-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/06042212/Stock-Performance-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/06042212/Stock-Performance-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/06042212/Stock-Performance.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Range Resources
<ul>
<li>Range Resources Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) is one of the top natural gas producers in the U.S. The company&#8217;s shares have risen by 16.44% over the last year.</li>
<li>It has several drilling locations with a significant presence in the Appalachian basin.</li>
<li>According to <a href="https://www.benzinga.com/quote/RRC/analyst-ratings">Benzinga</a>, 20 analysts tracking the company have a price target of $36.33 per share with a consensus &#8216;hold&#8217; rating.</li>
<li>The most recent ratings from Wells Fargo, Mizuho, and UBS, imply a 13.25% upside for Range Resources.</li>
<li>During the fourth quarter of the previous fiscal, Range&#8217;s earnings per share were 31.3% above expectations at $0.63 and its revenue was 2.25% above Benzinga&#8217;s <a href="https://www.benzinga.com/quote/RRC/earnings">estimates</a> of $699.60 million at $715.31 million.</li>
</ul>
Goodyear
<ul>
<li>Goodyear Tire And Rubber Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) is an American tire manufacturer headquartered in Akron, Ohio. However, the stock has fallen by 36.11% over the last year.</li>
<li>WinterCommand Ultra is a winter tire made to be used in ice and snow conditions. Available in studded and non-studded versions, it is adaptable to various winter driving conditions.</li>
<li>According to <a href="https://www.benzinga.com/quote/GT/analyst-ratings">Benzinga</a>, the most recent ratings from Deutsche Bank, Morgan Stanley, and HSBC, imply a 50.62% upside for Goodyear.</li>
<li>Seasonally, during the fourth quarter of the previous fiscal, Goodyear reported earnings per share of $0.47, beating Benzinga&#8217;s consensus <a href="https://www.benzinga.com/quote/GT/earnings">estimate </a>of $.036, implying a 30.6% surprise on the upside. </li>
<li>On the other hand, its actual revenue missed the estimated revenue by 5.08% at $5.12 billion.</li>
</ul>
Antero Resources
<ul>
<li>Antero Resources Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) mainly engaged in hydrocarbon exploration is also a natural gas producer.</li>
<li>The company has an investment-grade credit rating, indicating strong debt repayment positioning and liquidity. The shares have risen by 51.85% over the last year.</li>
<li>About 22 analysts tracked by <a href="https://www.benzinga.com/quote/AR/analyst-ratings">Benzinga </a>have a &#8216;hold&#8217; rating with a price target of $35.86 apiece.</li>
<li>The most recent ratings from Wells Fargo, Mizuho, and UBS, imply a 2.64% upside for Antero Resources.</li>
<li>During the fourth quarter of the previous fiscal, Antero&#8217;s earnings per share was 4.55% above expectations at $0.23 and its revenue was 2.93% above Benzinga&#8217;s <a href="https://www.benzinga.com/quote/AR/earnings">estimates </a>of $1.16 billion at $1.19 billion.</li>
</ul>
VF Corp
<ul>
<li>Winter clothing brand, the North Face owner VF Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) is headquartered in Denver, Colorado.</li>
<li>The company also owns brands like Vans, Timberland, Supreme, Dickies, JanSport, Nautica, etc. The shares have returned 22.10% over the last year.</li>
<li>According to <a href="https://www.benzinga.com/quote/VFC/analyst-ratings">Benzinga</a>, 23 analysts tracking the company have a price target of $19.45 per share with a consensus &#8216;hold&#8217; rating.</li>
<li>The most recent ratings from Argus Research, Guggenheim, and Truist Securities, imply a 13.48% upside for VF Cor.</li>
<li>Despite seasonality, in the third quarter of the previous fiscal, which includes the winter months, VFC&#8217;s earnings per share were 28.7% below expectations at $0.57 and its revenue was 9.20% below Benzinga&#8217;s <a href="https://www.benzinga.com/quote/VFC/earnings">estimates </a>of $3.26 billion at $2.96 billion.</li>
</ul>
Comstock Resources
<ul>
<li>Comstock Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>) is yet another producer of natural gas with its operations spread across Haynesville Shale in North Louisiana and East Texas.</li>
<li>Comstock Oil and Gas, Pinnacle Gas Services, and Convey Park Management are a few of its subsidiaries. The company&#8217;s shares have risen by 98.43% over the last year.</li>
<li>About 15 analysts tracked by <a href="https://www.benzinga.com/quote/CRK/analyst-ratings">Benzinga </a>have a &#8216;hold&#8217; rating with a price target of $13.21 apiece.</li>
<li>According to Benzinga, the most recent ratings from Mizuho, Citigroup, and BofA Securities, imply a 9.16% downside for Comstock.</li>
<li>Seasonally, during the fourth quarter of the previous fiscal, Comstock reported earnings per share of $0.10, missing Benzinga&#8217;s consensus <a href="https://www.benzinga.com/quote/CRK/earnings">estimate </a>of $0.13, implying a 23.1% surprise on the downside. </li>
<li>On the other hand, its actual revenue was best the estimated revenue by 3.04% at $410.58 million.</li>
</ul>
Read Next: 
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</ul>
Photo courtesy: Shutterstock

Markets

Trading Ideas

General

Baby, It's Cold Outside: These 5 Winter-Ready Stocks Have What It Takes To Make You Feel Warm And Cozy

U.S. stocks were slightly lower, with the Dow Jones index falling around 0.1% on Tuesday.
Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACAD#NASDAQ">ACAD</a>) rose sharply <a href="https://www.benzinga.com/quote/ACAD">during Tuesday's session</a>.
Acadia Pharmaceuticals will replace Independent Bank Group in S&amp;P SmallCap 600, effective prior to opening of trading on Jan. 3, 2025.
ACADIA Pharmaceuticals shares jumped 11.9% to $18.67 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Almacenes Éxito S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXTO#NYSE">EXTO</a>) shares jumped 20.7% to $3.62.</li>
<li>zSpace, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZSPC#NASDAQ">ZSPC</a>) gained 18.7% to $17.75.</li>
<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) shares rose 14.8% to $145.27. On Monday, the company launched a strategic capital initiative in partnership with institutional investors.</li>
<li>SiriusPoint Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPNT#NYSE">SPNT</a>) gained 14.6% to $16.27. SiriusPoint announced full repurchase of CM Bermuda shares.</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) gained 13% to $11.30.</li>
<li>GDEV Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDEV#NASDAQ">GDEV</a>) rose 8.6% to $20.10.</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) gained 8.3% to $3.8350.</li>
<li>The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) rose 4.4% to $9.15.</li>
</ul>
Now Read This: 
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</ul>

Intraday Update

Movers

ACAD

EXTO

FTAI

GDEV

SPNT

ZSPC

Acadia Pharmaceuticals, FTAI Aviation And Other Big Stocks Moving Higher On Tuesday

Deutsche Bank analyst Edison Yu reinstates Goodyear Tire &amp; Rubber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) with a Hold and announces $10 price target.

Price Target

Initiation

Analyst Ratings

Deutsche Bank Reinstates Hold on Goodyear Tire & Rubber, Announces $10 Price Target

WIIM

ADNT

PRTS

Shares of auto supplier stocks are trading lower. Weakness may be in reaction to worse-than-expected November PPI data, which could cloud rate cut outlook.

Wabash Extends Goodyear Partnership As Preferred Tire Supplier For Trailers

Guidance

Goodyear Raises Gross Run-Rate Target To $1.5B By 2025 Under Forward Transformation Plan; Expects $450M Benefits In 2024 And $750M In 2025, Aims For Over $2B From Portfolio Optimization And Net Leverage Of 2.0x-2.5x

Goodyear Tire &amp; Rubber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) reported quarterly earnings of $0.37 per share which beat the analyst consensus estimate of $0.21 by 76.19 percent. The company reported quarterly sales of $4.82 billion which missed the analyst consensus estimate of $4.94 billion by 2.40 percent. This is a 6.18 percent decrease over sales of $5.14 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Goodyear Tire & Rubber Q3 2024 Adj EPS $0.37 Beats $0.21 Estimate, Sales $4.82B Miss $4.94B Estimate

<a href="https://agngnconpm.cloudimg.io/v7/https://dgaddcosprod.blob.core.windows.net/corporate-production/attachments/x14y5g8dothvqawh0enb2nvn-20241023-michelin-ppt-q3-2024.pdf" title="https://agngnconpm.cloudimg.io/v7/https://dgaddcosprod.blob.core.windows.net/corporate-production/attachments/x14y5g8dothvqawh0enb2nvn-20241023-michelin-ppt-q3-2024.pdf">https://agngnconpm.cloudimg.io/v7/https://dgaddcosprod.blob.core.windows.net/corporate-production/attachments/x14y5g8dothvqawh0enb2nvn-20241023-michelin-ppt-q3-2024.pdf</a>

MGDDF

MGDDY

Michelin Adjusts FY Guidance, Sees Sales Volumes Expected Within Range Of -6% And 4%; Group Total Sales For 9-Month €20.171 Billion, Down 4.6% YoY; Now Expects Segment Operating Income Around €3.4 Billion Vs More Than €3.5 Billion Before

CVNA

RIVN

TSLA

Shares of auto-related stocks are trading higher following the Fed's policy decision to cut rates by 50 basis points, which could stimulate spending and enhance credit affordability.

As soon as Democratic nominee Kamala Harris promised to <a href="https://www.benzinga.com/news/24/08/40387906/kamala-harris-plans-historic-federal-ban-on-corporate-price-gouging-in-food-and-grocery-industries">ban price-gouging on groceries</a> (if she were elected U.S. President in November), the blowback from critics was loud and fierce. 
But such laws, which put a floor and a ceiling on consumer goods and services through government mandate, are not new.
For example, President Franklin D. Roosevelt signed into law the Emergency Price Control Act of 1942 to curb inflation during World War II. It was enacted on Jan. 30, 1942 and expired on June 30,1947, <a href="https://www.loc.gov/item/uscode1940-006050a010/">according</a> to the Library of Congress.
Almost 30 years later, President Richard Nixon issued an executive order in 1971 that put a 90-day freeze on wages and prices, following the Economic Stabilization Act of 1970, <a href="https://www.cato.org/commentary/remembering-nixons-wage-price-controls">according</a> to the Cato Institute.
Read Also: <a href="https://feeds2.benzinga.com/personal-finance/24/08/40508841/oleary-on-harris-price-control-plan-thats-beyond-crazy-it-didnt-work-in-the-70s-it-wont-work-now">O&#8217;Leary On Harris&#8217; Price Control Plan: &#8216;That&#8217;s Beyond Crazy&#8217; – It Didn&#8217;t Work In The &#8217;70s, It Won&#8217;t Work Now</a>
There are countless other instances of governments imposing such legislation as far back as the days of the Roman Empire, <a href="https://cdn.mises.org/Forty%20Centuries%20of%20Wage%20and%20Price%20Controls%20How%20Not%20to%20Fight%20Inflation_2.pdf">according</a> to &#8220;Forty Centuries of Wages and Price Controls.&#8221;
Harris presented the price-gouging ban a week ago at <a href="https://www.benzinga.com/news/24/08/40387906/kamala-harris-plans-historic-federal-ban-on-corporate-price-gouging-in-food-and-grocery-industries">a campaign rally</a> in North Carolina. The plan includes sharper scrutiny on potential mergers between supermarkets and food producers, which leads to higher grocery prices as expenses are passed onto consumers.
Grocer association gave the proposal <a href="https://www.benzinga.com/news/24/08/40467624/harris-price-gouging-plan-faces-pushback-from-grocers-hurting-from-the-same-inflationary-pressure-as">the cold shoulder</a>. They argue that they face the same inflationary pressures that consumers do.
When enacted, price control legislation significantly impacts sectors that have a handful of dominant players, such as soda production, tire manufacture, wireless communications and retail.
Price Action: Soda producers saw gains and losses by Friday&#8217;s mid-afternoon trading.
<ul>
<li>The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) dipped 0.19% to $69.20</li>
<li>PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) declined 0.60% to $174.69</li>
<li>Unilver PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>) gained 1.42% to $63.41</li>
</ul>
Tire makers also went in both directions on Wall Street on Friday.
<ul>
<li>The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) jumped 5.12% to $8.93</li>
<li>Bridgestone Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BRDCY#OTC">BRDCY</a>) gained 1.37% to $20.01</li>
<li>Group Michelin (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGDDY#OTC">MGDDY</a>) slipped 0.81% to $19.54</li>
</ul>
Wireless communications providers trended upward. 
<ul>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) gained 0.69% to $41.15</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) went up 0.82% to $19.67</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) rose 0.73% to $197.88</li>
</ul>
Retailers also had a positive day into Friday&#8217;s mid-afternoon trading.
<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) improved 0.19% to $75.43</li>
<li>Amazon.com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) rose 0.47% to $176.96</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) climbed 0.68% to $157.88</li>
</ul>
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Shares of auto-related stocks are trading higher amid overall market strength following Fed Chair Powell's comments about the economy and future rate cuts.

New Assurance WeatherReady&#xAE; 2 is the pinnacle tire for all-weather driving and outperforms leading competitors in wet handling, wet braking and dry handling
AKRON, Ohio, Aug. 20, 2024 /PRNewswire/ -- Today, Goodyear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) introduced the Assurance WeatherReady 2, a tire that delivers unparalleled all-weather performance backed by industry-leading test results in wet handling, wet braking and dry handling. The tire has set a new performance standard for all-season tires, making it the perfect choice for an all-weather solution.

Goodyear's Assurance WeatherReady 2, Sets New Standard For All-Season Tires With Industry-Leading Test Results

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Shares of automobile and auto component stocks are trading higher amid overall market strength following softer-than-expected July PPI figures, which could alleviate some inflation concerns and boost consumer sentiment outlook.

Shares of Goodyear Tire (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gt#NASDAQ">GT</a>) plunged 33.5% since the company reported second-quarter 2024 results. It reported second-quarter 2024 adjusted earnings per share of 19 cents, surpassing the Zacks Consensus Estimate of 9 cents. The company had incurred a loss of 34 cents in the year-ago quarter.
The company generated net revenues of $4.57 billion, which declined 6.1% on a year-over-year basis and missed the Zacks Consensus Estimate of $4.79 billion due to lower replacement volume.
In the reported quarter, tire volume was 40.1 million units, down 1.7% from the year-ago period&#39;s levels.
<div class="chart_embed">
<h3>The Goodyear Tire &amp; Rubber Company Price, Consensus and EPS Surprise</h3>
<img alt="The Goodyear Tire &amp; Rubber Company Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/d7/1723551225.png" style="height:268px; width:568px" title="" />
The Goodyear Tire &amp; Rubber Company price-consensus-eps-surprise-chart | The Goodyear Tire &amp; Rubber Company Quote
</div>
<h3>Segmental Performance</h3>
In the reported quarter, the Americas segment generated revenues of $2.69 billion, which declined 8.2% year over year and missed our estimate of $2.82 billion due to lower replacement volume and unfavorable price/mix. The segment registered an operating income of $241 million, which surged 134% from the year-ago period&#39;s figures. The operating margin benefited from lower transportation costs, Goodyear Forward initiatives and favorable net price/mix. The figure surpassed our expectation of $224.4 million.
Revenues in the Europe, Middle East and Africa segment were $1.28 billion, down 4.6% from the year-ago period&#39;s levels due to the adverse impact of foreign currency exchange rates and lower replacement volume. The figure also missed our estimate of $1.35 billion. The operating income for the segment was $35 million, which rose 284.2% on a year-over-year basis due to favorable net price/mix, a net gain on insurance recoveries and the Goodyear Forward plan.
Revenues in the Asia Pacific segment rose 1.2% year over year to $594 million due to higher original equipment volume but missed our estimate of $615.3 million. The segment&#39;s operating profit was $63 million, up 57.5% from the year-ago quarter&#39;s figure due to favorable net price/mix, higher volume and benefits from the Goodyear Forward plan. The figure, however, missed our estimate of $65.2 million.
<h3>Financial Position</h3>
Selling, general &amp; administrative expenses rose to $731 million from $708 million in the year-ago period.
Goodyear had cash and cash equivalents of $789 million as of Jun 30, 2024, down from $902 million as of Dec 31, 2023.
Long-term debt and finance leases amounted to $6.83 billion as of Jun 30, 2024, the same as of Dec 31, 2023.
Capital expenditure in the quarter was $634 million, up from $536 million reported in the year-ago quarter.
<h3>Updated 2024 Outlook</h3>
Based on recent commodity rates, the company expects a benefit of $260 million on raw material costs in 2024, down from the previous estimate of a benefit of $325-$350 million.
Capital expenditures are expected to be $1.25 billion compared with the previous estimate of $1.2-$1.3 billion.
For the full year, interest expenses are estimated between $510 million and $530 million, down from the previously guided range of $520-$540 million. Depreciation and amortization is expected to be $1 billion.
<h3>Zacks Rank &amp; Key Picks</h3>
GT currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>), BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) and Douglas Dynamics, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plow#NYSE">PLOW</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for DORM&#39;s 2024 sales and earnings suggests a year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 20 cents and 22 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for BYDDY&#39;s 2024 sales and earnings suggests year-over-year growth of 21.11% and 14.73%, respectively. EPS estimates for 2024 and 2025 have improved 14 cents and 19 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for PLOW&#39;s 2024 sales and earnings suggests year-over-year growth of 6.45% and 60.4%, respectively. EPS estimates for 2024 and 2025 have improved 15 cents and 2 cents, respectively, in the past 30 days.
<a href="https://www.zacks.com/stock/news/2321365/goodyear-s-gt-shares-fall-33-5-since-q2-earnings-beat?cid=CS-BENZ-FT-analyst_blog|earnings_article-2321365">To read this article on Zacks.com click here.</a>

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Goodyear's Shares Fall 33.5% Since Q2 Earnings Beat

Goodyear Canada To Invest C$575M In Ontario Plant Expansion, Creating 200 New Jobs; Receives Up To C$44.3M Federal Funding And C$20M From Ontario Government

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 3</a>0, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">ODP Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>)</h3>
<ul>
<li>On Aug. 7, ODP reported worse-than-expected second-quarter financial results and cut its FY24 guidance. "While we are pacing below our prior expectations for the year, we are not standing still. We're taking actions to improve our top-line trajectory and we remain focused on capturing the long-term opportunities derived by our strong value proposition, solid balance sheet, and flexible foundation," said Gerry Smith, chief executive officer of ODP. The company's stock fell around 33% over the past five days and has a <a href="https://www.benzinga.com/quote/ODP">52-week low of $23.69</a>.</li>
<li>RSI Value: 21.13</li>
<li>ODP Price Action: Shares of ODP fell 2.5% to close at $25.52 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to l<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">atest ODP news.</a> </li>
</ul>
<figure class="wp-block-image is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img decoding="async" src="blob:https://editorial.benzinga.com/5f259a12-f9c3-4fec-abc4-9a6912ebc289" alt="" style="width:561px;height:auto" /></a></figure>
<h3 class="wp-block-heading">Goodyear Tire &amp; Rubber Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On July 31, Goodyear Tire &amp; Rubber reported mixed quarterly financial results. &#8220;We demonstrated clear progress on our Goodyear Forward plan in the second quarter, achieving significant margin expansion and securing a definitive agreement to sell our Off-the-Road business,&#8221; said Chief Executive Officer and President Mark Stewart. The company's stock fell around 32% over the past month. It <a href="https://www.benzinga.com/quote/GT">has a 52-week </a>low of $7.63.</li>
<li>RSI Value: 22.49</li>
<li>GT Price Action: Shares of Goodyear Tire fell 2.7% to close at $7.70 on Friday.</li>
<li>Benzinga Pro&#8217;s charting tool helped <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">identify the trend in GT stock. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="905" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76.png" alt="" class="wp-image-489633" style="width:493px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76.png 905w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76-768x706.png 768w" sizes="(max-width: 905px) 100vw, 905px" /></a></figure>
<h3 class="wp-block-heading">Dutch Bros Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>)</h3>
<ul>
<li>On Aug. 7, Dutch Bros reported quarterly earnings of 19 cents per share which beat the analyst consensus estimate of 13 cents by 46.15%. "Our quarterly performance demonstrates the long runway ahead for Dutch Bros as we once again delivered strong top-line and profitability growth. Revenue rose 30%, including a 4.1% increase in system same-shop sales, and was underpinned by excellent margin flow through. With strong results 2024 to date despite the volatile consumer backdrop and expectations for a robust second half to the year, we are pleased to be raising our annual guidance," said Christine Barone, CEO of Dutch Bros. The company's shares fell around 28% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/BROS">low of $22.66</a>.</li>
<li>RSI Value: 25.27</li>
<li>BROS Price Action: Shares of Dutch Bros fell 2.4% to close at $29.49 on Friday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">breakout in BROS shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="880" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77.png" alt="" class="wp-image-489637" style="width:528px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77.png 880w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77-300x284.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77-768x726.png 768w" sizes="(max-width: 880px) 100vw, 880px" /></a></figure>
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Shares of auto-related companies are trading lower amid overall market weakness on US economic concerns. An economic slowdown could impact demand.

Shares of auto-related companies are trading lower amid overall market weakness following weak US data.

The Goodyear Tire & Rubber Company 2024 Q3 - Results - Earnings Call Presentation

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Goodyear Tire (GT) Sees Growth Despite a Drop in Tire Sales

Goodyear Tire (GT) has been awarded a $134.87M firm-fixed-price requirements contract under solicitation for ground tires. This was a competitive a...

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