Goodyear’s first six months of 2025 net sales were $8.7 billion, with tire unit volumes totaling 76.4 million. Goodyear H1 net income was $369 million ($1.27 per share) compared to Goodyear net income of $10 million (4 cents per share) a year ago. The first six months of 2025 included several substantial items including, on a pre-tax basis, a combined estimated gain on the sales of the OTR tire business and the Dunlop Brand of $645 million, rationalization charges of $140 million and Goodyear Forward [the restructuring plan] costs of $11 million. The first six months of 2024 included, on a pre-tax basis, rationalization charges of $41 million and Goodyear Forward costs of $67 million. Goodyear Forward costs are comprised of advisory, legal and consulting fees and costs associated with planned asset sales.

Goodyear H1 adjusted net loss was $59 million compared to adjusted net income of $65 million in the prior year. Adjusted earnings per share was a loss of $0.21, compared to earnings of $0.23 in the prior year. Per share amounts are diluted.

The company reported segment operating income of $354 million in the first six months of 2025, compared to $574 million a year ago. After adjusting for the sale of its OTR tire business, which was completed in February 2025, segment operating income declined $185 million, driven by higher raw materials. Segment operating income reflects unfavorable net price/mix versus raw material costs of $193 million, inflation and other costs of $179 million, non-recurrence of the 2024 net insurance recoveries of $52 million, and lower tire volume of $70 million. These headwinds were partially offset by benefits from Goodyear Forward of $395 million.

“While short term outlook definitely remains turbulent given the industry environment broadly, we’re staying very focused on what we can control and what we continue to deliver,” said Stewart on the earnings call this morning. “We’re continuing to execute ahead of schedule on Goodyear Forward. [the restructuring plan] We’re continuing to take the right cost control actions. We’re taking smart pricing actions in the marketplaces.

“And we’re gaining share in the profitable premium segments of the market. We continue to sharpen that portfolio and at the same time strengthen our balance sheet as we’ve shared. We’re really focused again on refreshing the existing product lines, bringing the new power lines into the market, into the premium spaces. And despite these near-term headwinds, I am very confident as the market stabilizes, our momentum will return. The Goodyear team is committed to execution and delivering results..” said Stewart, CEO and President, Goodyear.