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Jun 30, 2020
Goodyear Q2 2020 Earnings Report
Goodyear's second quarter results were significantly affected by the COVID-19 pandemic, but decisive actions helped mitigate the impact.
Key Takeaways
Goodyear's Q2 2020 sales were $2.1 billion, a 41% decrease from the previous year. The company reported a net loss of $696 million, or $2.97 per share, compared to a net income of $54 million, or $0.23 per share, in the prior year. The decline was driven by lower industry volume and reduced sales from other tire-related businesses, partially offset by improvements in price/mix.
First half results significantly affected by COVID-19 pandemic.
Second quarter cash flow significantly better than expected.
Strong cash and liquidity position maintained; $3.9 billion available at quarter end.
Volume trends in key markets improved throughout the second quarter; China consumer replacement volume increased year-over-year in both May and June.
Goodyear
Goodyear
Goodyear Revenue by Segment
Goodyear Revenue by Geographic Location
Revenue by Segment
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
While we are encouraged to see industry demand gradually recovering in most major markets, our plans for the second half consider the challenges and uncertainties that remain.
Revenue & Expenses
Visualization of income flow from segment revenue to net income