Goodyear reported a decrease in sales by 9% to $3.5 billion due to lower volume, unfavorable foreign currency translation and reduced sales from other tire-related businesses, which was partially offset by improvements in price/mix. The company's net loss was $2 million, compared to a net income of $88 million in the prior year.
Volume improved throughout the third quarter; total unit volume down 9% versus 2019
Third quarter working capital significantly better than expected; source of cash for the quarter
Cash and liquidity position maintained; $4.2 billion available at quarter end
Record consumer replacement volume in China
The company did not provide forward guidance in its earnings report.
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