Goodyear posts Q3 net loss of $34M; raises Goodyear Forward run-rate target to $1.5B

GOODYEAR TIRE & RUBBER CO /OH/

2024-Q3 EPS reported -$0.02 revenue$13,931,000,000

Q3 net loss $34M ($0.12/share) vs loss $89M ($0.31) YoY; adjusted net income $105M ($0.37) vs $104M ($0.36).
Segment operating income $347M (margin 7.2%, up ~70 bps YoY); fourth straight quarter of margin expansion.
Goodyear Forward gross run-rate target increased to $1.5B (from $1.3B); 2024 benefit guidance raised to $450M.
Portfolio optimization gross proceeds expected >$2B; reaffirmed net leverage target 2.0x-2.5x by end of 2025.
$125M intangible asset impairment for Mastercraft/Roadmaster brands due to competition and Goodyear Forward plans.

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