Tag: Richard Kramer

Goodyear: Q3 2018 results

1st November 2018 | 0 Comments

Goodyear Tire & Rubber has reported Q3 2018 sales of US$3.9 billion, slightly up on a year earlier; improved volume, price/mix and higher sales in other tyre-related businesses were “substantially offset” by unfavourable foreign currency translation.

Continue Reading

Newest Goodyear blimp to be ‘christened’ on 30 August

Newest Goodyear blimp to be ‘christened’ on 30 August

15th August 2018 | 0 Comments

Goodyear Tire & Rubber has selected Shaesta Waiz, the youngest woman to fly solo around the world in a single-engine aircraft, to christen Wingfoot Three. The ceremony for this latest addition to the Goodyear blimp fleet will be held on 30 August at Goodyear’s Wingfoot Lake Hangar.

Continue Reading

Goodyear: Raw material prices drive down income in Q1 2018

30th April 2018 | 0 Comments

Goodyear Tire & Rubber reports that its sales in the first quarter of 2018 were, at US$3.8 billion, four per cent higher than those a year earlier, even though tyre unit volumes were down 2.5 per cent year-on-year to 39 million. Segment operating income was down in the first quarter, however, declining 28 per cent from $390 million a year ago to $281 million. Goodyear says this decrease was driven by the impact of higher raw material costs.

Continue Reading

Goodyear reports Q4, 2017 results

9th February 2018 | 0 Comments

The Goodyear Tire & Rubber Company has reported results for the fourth quarter of 2017 as well as for the entire year.

Continue Reading

Global Goodyear revenue stable, net income down on higher prices, lower volume

27th October 2017 | 0 Comments

The Goodyear Tire & Rubber Company has reported sales of $3.9 billion in the third quarter of 2017. This figure is up from $3.8 billion year-on-year, largely attributable to improved price/mix, which saw revenue per tyre rise five per cent over the 2016 quarter, excluding the impact of foreign currency translation. Tyre unit sales were down five per cent in total, with original equipment down nine per cent and replacement down four per cent.

Continue Reading

Goodyear names new CTO

Goodyear names new CTO

18th August 2017 | 0 Comments

Effective 1 September, Christopher Helsel will take over as chief technology officer at the Goodyear Tire & Rubber Company, and additionally take on the role of vice-president. Helsel, who currently serves as director, North America commercial and global off-highway technology, succeeds Joe Zekoski as chief technology officer.

Continue Reading

Goodyear: Sales, income down again in Q2 2017

2nd August 2017 | 0 Comments

A combination of raw material cost volatility, a challenging competitive environment and weakening demand in certain segments and markets have resulted in another quarter of lower net sales and income for Goodyear Tire & Rubber. In the three months to 30 June 2017, net sales declined 5.0 per cent to US$3.69 billion while operating income was down 32.0 per cent to $361 million. Net income dropped 26.7 per cent to $147 million ($0.58 per share), with adjusted net income amounting to $177 million ($0.70 per share), down 43.6 per cent from a year earlier.

Continue Reading

Goodyear becomes uniform sponsor to NBA’s Cleveland Cavaliers

Goodyear becomes uniform sponsor to NBA’s Cleveland Cavaliers

16th May 2017 | 0 Comments

The Cleveland Cavaliers, currently the defending champions in the USA’s National Basketball Association, hail from the state in which The Goodyear Tire & Rubber Company is based. And upon entering into a multiyear sponsorship agreement with the Cavaliers, the Ohio-based tyre maker spoke of “home-state pride.” The deal, announced yesterday at the Cavaliers’ home arena, will see the Goodyear Wingfoot logo appear on player uniforms from the 2017-18 season.

Continue Reading

Goodyear: Q1 2017 income restrained by higher costs, lower demand

2nd May 2017 | 0 Comments

The Goodyear Tire & Rubber Company has reported its results for the first quarter of 2017, and these show unit volumes and income to be slightly down compared with the same quarter a year ago. Richard Kramer describes the latest results as “a great outcome given an environment of rising raw material costs and weaker demand.” The chairman, chief executive officer and president adds that Goodyear’s Q1 performance “is a result of the disciplined execution of our strategy.”

Continue Reading

Goodyear benefitting from tyre industry trends, says Kramer

11th April 2017 | 0 Comments

During the company’s annual shareholder meeting yesterday, Richard Kramer stated that trends within the global tyre industry are playing to Goodyear Tire & Rubber Company’s strengths and its strategy to drive profitable growth. This growth, he added, is best represented within the consumer tyre business by the rising demand for tyres with 17-inch and larger rim diameters – the market for this segment has doubled since 2010 and is expected to double again by 2020.

Continue Reading

Goodyear reports $1.3b net income for 2016

9th February 2017 | 0 Comments

The economically-teetering country of Venezuela was a recurring theme in Goodyear Tire & Rubber’s 2016 financial report. The tyre maker’s deconsolidation of its subsidiary in that country drove down both sales and unit volumes for the year, however the measure had a more favourable impact upon Goodyear’s bottom line.

Continue Reading

Expansion of Goodyear tyre plant in China begins

2nd November 2016 | 0 Comments

When Goodyear Tire & Rubber announced plans last month to close its Philippsburg tyre plant in Germany, the company gave increasing demand for larger rim diameter tyre sizes – and a lack of infrastructure for producing these in Philippsburg – as a justification for the decision. Rather than invest in new equipment for the factory, Goodyear has decided to increase capacity for larger tyre sizes elsewhere in the world. Today, the tyre maker announced it has broken ground on a US$485 million expansion of its facility in China’s Pulandian district. Goodyear chairman, chief executive officer and president Richard J. Kramer took part in a ceremony with Lu Lin, deputy mayor of the city of Dalian.

Continue Reading

Wingfoot Two: Second Goodyear blimp ‘christened’

Wingfoot Two: Second Goodyear blimp ‘christened’

24th October 2016 | 0 Comments

A crowd of more than 2,000 spectators looked on last Friday as a ceremonial bottle of champagne was broken over the nose of Goodyear Tire & Rubber’s newest blimp and it was officially given the name Wingfoot Two. The 246 foot airship was built in the USA by German firm Zeppelin NT and is the second of the new-generation ‘blimp’ fleet to enter service. It and its older sibling the Wingfoot One, which took to the air in 2014, are 50 feet longer than the previous generation of blimps and, at 73 mph, can travel more than 20 mph faster.

Continue Reading

Charges deflate Goodyear’s strong operating performance

10th February 2016 | 0 Comments

A one-time pre-tax charge of US$646 million linked to the deconsolidation of its Venezuelan subsidiary’s financial statements dragged Goodyear Tire & Rubber into the red in the fourth quarter of 2015. The tyre maker recorded a GAAP basis net loss of $380 million during the three months to 31 December 2015, a far cry from the $2.1 billion net income achieved a year earlier. Goodyear calculates that excluding certain significant items, most notably the abovementioned deconsolidation, adjusted net income came to $257 million, or $0.93 per share.

Continue Reading

Richard Kramer divests 29,000 Goodyear shares

Richard Kramer divests 29,000 Goodyear shares

4th February 2016 | 1 Comment

Goodyear Tire & Rubber chairman, president and chief executive Richard J. Kramer has sold around ten per cent of his shares in the company he heads up. According to a document filed with the United States Securities and Exchange Commission, on 2 February the Goodyear boss disposed of 29,000 shares for an average price of US28.0403 per share – a total of $813,168. Following the transaction, Kramer retains 259,864 shares.

Continue Reading

[ + ]