Goodyear Tire & Rubber Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St

November 06, 2024

Goodyear Tire & Rubber (NASDAQ:GT) Third Quarter 2024 Results

Key Financial Results

Revenue: US$4.82b (down 6.2% from 3Q 2023).
Net loss: US$34.0m (loss narrowed by 62% from 3Q 2023).
US$0.12 loss per share (improved from US$0.31 loss in 3Q 2023).

earnings-and-revenue-growth — NasdaqGS:GT Earnings and Revenue Growth November 6th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Goodyear Tire & Rubber Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 9.3% growth forecast for the Auto Components industry in the US.

Performance of the American Auto Components industry.

The company's shares are up 9.5% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Goodyear Tire & Rubber that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.