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Jun 30, 2022
Goodyear Q2 2022 Earnings Report
Goodyear's Q2 2022 sales were the highest in a decade, driven by the Cooper Tire merger, strong pricing actions, and volume growth. Earnings increased despite inflation and COVID-related disruptions.
Key Takeaways
Goodyear reported a 31% increase in sales to $5.2 billion in Q2 2022. Net income was $166 million, and adjusted net income reached $131 million. The company benefited from the Cooper Tire merger, improvements in price/mix, and higher volume.
Net sales increased by 31% compared to Q2 2021, with over 15% growth excluding the Cooper Tire transaction.
Goodyear's net income for the second quarter was $166 million, while adjusted net income was $131 million.
Merger-adjusted segment operating income increased by 7% to $372 million compared to Q2 2021.
Tire unit volume grew by 21%, including a 7% increase in the legacy business.
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
The company approved a plan related to the integration of Cooper Tire aimed at reducing duplicative global administrative headcount and closing redundant Cooper Tire warehouse locations in Americas. The plan will result in approximately 490 job reductions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income