Goodyear reported a net income of $12 million for the first quarter of 2021, a significant turnaround from the net loss of $619 million in the same period last year. Adjusted net income was $102 million, compared to an adjusted net loss of $140 million in 2020. Sales increased by 15% to $3.5 billion, driven by higher volume, improvements in price/mix, and favorable foreign currency translation.
First quarter net income was $12 million, a significant improvement from the prior year.
Segment operating income reached $226 million, the strongest first quarter since 2018.
Global consumer replacement volume significantly exceeded industry levels.
Revenue per tire increased by 3%, excluding foreign currency effects.
Goodyear did not provide specific forward guidance in the earnings report.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance