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Sep 30, 2020
Goodyear Q3 2020 Earnings Report
Goodyear's momentum increased due to a quicker than expected global tire industry recovery, especially in the Americas.
Key Takeaways
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
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 did not provide forward guidance in its earnings report.