Senior Director Marketing

Goodyear turnaround continues as cash flow lags. August 29, 2026 The outside of Goodyear's "Motor Metropolis Storage" idea retail retailer inside one of many tire producer's Detroit tire outlets. Courtesy Goodyear DETROIT - Goodyear Tire & Rubber Co. CEO Mark Stewart sits within the automobile bay of a tire store the place the corporate is launching a brand new retail expertise for purchasers. There is a freshly painted black facade on the revamped Detroit retailer, with the phrases "Motor Metropolis" added in white flanking Goodyear's winged foot brand. It has been dressed up for a personal occasion in connection to a close-by annual automotive pageant known as the Woodward Dream Cruise. However regardless of the trendy touches, it is nonetheless a tire store. The odor of rubber and oil stays within the air and the sound of staff altering tires combines with music from a DJ contained in the store's ready room. The scene is symbolic of Stewart's ongoing "Goodyear Ahead" turnaround plan. He is attempting to make tires - a traditionally soiled enterprise - extra enticing for buyers and friendlier for shoppers. "We have now made a lot progress, and when you concentrate on it from the standpoint of the Goodyear Ahead program, it was actually to get our toes again on the bottom in the direction of being the long-lasting firm that we all the time have been," Stewart, sporting an unbuttoned navy blue Goodyear technician shirt, instructed CNBC throughout an interview on the store. However whereas Goodyear is well-known for burning rubber, it is also burning money because it restructures and tries to refinance and pay down years of debt. Goodyear CEO Mark Stewart (proper) being interviewed by CNBC reporter Michael Wayland on Aug. 14, 2026, inside a bay of one of many firm's retail areas in Detroit. Screenshot The corporate's capital expenditures have been roughly $2 billion mixed in 2024 and 2025, with expectations of $725 million this yr. Its debt remained at greater than $7 billion on the finish of the second quarter. Goodyear's web loss was $453 million via the primary half of the yr, whereas its working earnings was $131 million, or a 1.6% margin. Underneath the turnaround plan, Stewart needed Goodyear to achieve a ten% working margin by the top of final yr. As an alternative, that got here in at 8.5% within the fourth quarter, and it is nonetheless an impressive purpose for the corporate to hit that mark. "We're engaged on attending to that double-digit margin, and we're engaged on meaningfully producing money circulate," Stewart stated. "It has been a very long time since Goodyear's performed that. That we completely should do." The automotive veteran was named CEO of Goodyear after leaving Chrysler mum or dad Stellantis in January 2024. Since then, shares of the corporate have fallen greater than 50% regardless of Goodyear attaining most of the milestones he is got down to accomplish with the plan. Stewart does not make excuses for not hitting the targets although Goodyear's enterprise, like many, has been impacted by tariffs, inflated uncooked materials prices and the enlargement of cheaper Chinese language merchandise. "We nonetheless have a whole lot of geopolitical headwinds that we're working via... a whole lot of headwinds with uncooked materials indexes and a little bit of the hangover from the tariff surroundings," he stated, including that abroad producers proceed to have value benefits in comparison with Goodyear. Inventory chart icon Goodyear Tire & Rubber Co. inventory Goodyear's uncooked materials prices are anticipated to be roughly flat year-over-year, however a $200 million headwind in the course of the second half, largely as a result of larger commodity prices related to the battle within the Center East, in response to the corporate and Wall Avenue analysts. "Goodyear has confronted many large challenges over the previous few years, starting from slower client (and business) demand, to rising uncooked materials prices, to larger capital expenditures (capex), to low-priced Asian imports (into the U.S.), and, extra lately, to commerce and tariff laws. It hasn't been simple for Goodyear," Argus analyst Invoice Selesky stated in an Aug. 17 investor observe. Goodyear is rated a maintain with a value goal of $7.60, in response to common analyst rankings compiled by FactSet. Shares of the corporate closed Friday at $6.35, down 27% this yr. Goodyear Ahead rolls on. The Goodyear Ahead turnaround technique was initially anticipated to be a two-year plan that went via final yr, however the CEO has continued it as he and his govt staff map out what's subsequent for the 128-year-old Akron, Ohio-based firm. "On the proper time, we are going to announce that," Stewart stated. "We proceed to press forward to the following challenges and ensure we get the enterprise in the appropriate area." The Goodyear Ahead plan had already been launched when Stewart was named as incoming CEO, however he has been capable of make it his personal, together with by including cuts and price financial savings. The turnaround plan has reduce roughly $1.5 billion in annualized prices from the enterprise, in response to the corporate. Racing tires displayed contained in the manufacturing facility flooring of Goodyear's headquarters in Akron, Ohio, on Feb. 27, 2025. Michael Wayland / CNBC A part of the plan below Stewart has been to maneuver Goodyear extra into the premium tire phase, together with by promoting off models reminiscent of its Dunlop model. It additionally plans to launch greater than 1,600 new merchandise this yr, most of that are in higher-end segments with greater margins. The product restructuring comes as non-U.S. manufacturers, particularly Chinese language ones reminiscent of Sumitomo and Yokohama, have been increasing globally with cheaper merchandise in lower-end segments, in response to Stewart. Much like how Chinese language automakers have grown exterior their very own nation, tire producers have additionally been turning to extra exports, together with the U.S. "We're not going to compete in opposition to a $6 or $10 transformed tire. That is not who we're as Goodyear," Stewart stated, referring to the manufacturing value required to transform uncooked supplies right into a completed tire. Regardless of the challenges globally, Goodyear's Asia-Pacific area is a shiny spot for the corporate. Its phase working earnings for the second quarter was $63 million, with an working margin of 12.7%. Its U.S. operations have been a foremost drag on the corporate's financials. Stewart is attempting to show that round as client demand slows. The corporate stated its money burn is predicted to proceed into 2027 however average because the introduced closure subsequent yr of a plant in Fayetteville, North Carolina, is predicted to enhance its Americas phase working earnings by $270 million yearly. "We needed to take a really troublesome resolution, however a essential one to announce the closure of our Fayetteville, North Carolina facility. We completely did not take that frivolously, however we simply did not have a pathway to be aggressive out of that facility," Stewart stated. The Goodyear Ahead plan was prompted by activist investor Elliott Funding Administration revealing a stake within the firm in 2023. A spokesperson for Elliott, which supported three new Goodyear board members, declined to touch upon the corporate or the agency's present possession standing. Goodyear blimps flying excessive. A part of the Goodyear Ahead technique is to extend give attention to advertising and promoting to attach with prospects to bolster the model. A big a part of that - each bodily and financially - comes from the corporate's iconic Goodyear blimps which have flown as big ads for greater than a century. "The blimp staff and the advertising staff have actually embraced it. So we do a whole lot of activation across the blimp to actually promote tires," Stewart stated. "When the blimp media advertising has their hat on, it is all the time in context of 'How will we tie this to the tires?'" Stewart stated Goodyear has leaned into the promotion, utilizing social media platforms to tout its plane - and their connection to tires - and launching "purchase to fly" campaigns by which tire retailers and shoppers can win flights aboard its blimps. The corporate was exhibiting off its revamped retailer alongside a Detroit occasion that pulls a whole bunch of 1000's of automotive fanatics alongside a 16-mile stretch yearly. To have a good time, and get its promoting in entrance of tire consumers, it held a uncommon double-blimp look, in response to the corporate. It additionally featured a group of smaller "mini blimps." "We have all the time made the tires value bragging about," Stewart stated. "We're simply reminding folks now, and that ties into our advertising and promoting as properly." Select CNBC as your most well-liked supply on Google and by no means miss a second from essentially the most trusted title in enterprise information.

Goodyear reports $453M loss as turnaround burns cash. 2026-08-29 09:03:44 Key takeaways. * Goodyear Tire & Rubber reported a $453 million net loss through H1 2024 while executing its turnaround plan. * The company's operating income reached $131 million with a 1.6% margin, facing a $200 million commodity cost headwind. * Goodyear's Fayetteville, North Carolina plant closure next year is expected to improve operating income by $270 million annually. Goodyear Tire & Rubber is executing its 'Goodyear Forward' turnaround plan under CEO Mark Stewart, who joined from Stellantis in January 2024, but the company reported a net loss of $453 million through the first half of the year while its debt remained above $7 billion at the end of the second quarter. The tire manufacturer's operating income reached $131 million with a 1.6% margin through H1, falling short of Stewart's 10% operating margin target initially set for the end of last year. The company faces headwinds from tariffs, inflated raw material costs including a $200 million second-half impact largely due to higher commodity costs associated with the conflict in the Middle East, and competition from cheaper Chinese products, according to Stewart and Wall Street analysts. Goodyear reports $453 million net loss through first half. Goodyear's financial performance through the first half of the year showed a net loss of $453 million with operating income of $131 million, representing a 1.6% operating margin. The company's capital expenditures totaled roughly $2 billion combined in 2024 and 2025, with expectations of $725 million this year. Debt remained above $7 billion at the end of the second quarter. The company's shares have fallen more than 50% since Stewart was named CEO in January 2024. Goodyear achieved an 8.5% operating margin in the fourth quarter of last year, missing the 10% target Stewart had set. Argus analyst Bill Selesky rated Goodyear a hold with a price target of $7.60 in an Aug. 17 investor note. Shares closed Friday at $6.35, down 27% this year. Turnaround plan cuts $1.5 billion in annualized costs. The Goodyear Forward turnaround strategy was initially expected to be a two-year plan through last year, but Stewart has continued it as he and his executive team map out what's next for the 128-year-old Akron, Ohio-based company. The turnaround plan has cut roughly $1.5 billion in annualized costs, according to the company. Stewart has moved Goodyear more into the premium tire segment, including by selling off units such as its Dunlop brand. The company plans to launch more than 1,600 new products this year, most of which are in higher-end segments with bigger margins. The company announced the closure of a plant in Fayetteville, North Carolina next year, which is expected to improve its Americas segment operating income by $270 million annually. "We had to take a very difficult decision, but a necessary one to announce the closure of our Fayetteville, North Carolina facility," Stewart said. Asia-Pacific region delivers 12.7% operating margin. Goodyear's Asia-Pacific region is a bright spot for the company. Its segment operating income for the second quarter was $63 million, with an operating margin of 12.7%. The company's U.S. operations have been a main drag on the company's financials. Goodyear's raw material costs are expected to be roughly flat year over year, but face a $200 million headwind in the second half, largely due to higher commodity costs associated with the conflict in the Middle East, according to the company and Wall Street analysts. The company said its cash burn is expected to continue into 2027 but moderate as the announced closure next year of the Fayetteville plant takes effect. Goodyear blimps drive marketing strategy. Part of the Goodyear Forward strategy is to increase focus on marketing and advertising to connect with customers to reinforce the brand. A large part of that comes from the company's iconic Goodyear blimps, which have flown as giant advertisements for more than a century. "The blimp team and the marketing team have really embraced it. So we do a lot of activation around the blimp to literally sell tires," Stewart said. Goodyear has leaned into the promotion, using social media platforms to tout its aircraft and launching "buy to fly" campaigns in which tire retailers and consumers can win flights aboard its blimps. The company held a rare double-blimp appearance at a Detroit event that attracts hundreds of thousands of car enthusiasts along a 16-mile stretch annually. Faq. What was Goodyear's financial performance in the first half of the year? Goodyear reported a net loss of $453 million through the first half of the year, with operating income of $131 million representing a 1.6% operating margin. The company's debt remained above $7 billion at the end of the second quarter. How much has Goodyear's turnaround plan saved in costs? The Goodyear Forward turnaround plan has cut roughly $1.5 billion in annualized costs, according to the company. The plan includes the closure of a Fayetteville, North Carolina plant next year, which is expected to improve Americas segment operating income by $270 million annually. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Goodyear burning rubber and cash as turnaround plan continues. By Alejandra García - August 29, 2026 The exterior of Goodyear's "Motor City Garage" concept retail store inside one of the tire manufacturer's Detroit tire shops. Courtesy Goodyear DETROIT - Goodyear Tire & Rubber Co. CEO Mark Stewart sits in the vehicle bay of a tire shop where the company is launching a new retail experience for customers. There's a freshly painted black facade on the revamped Detroit store, with the words "Motor City" added in white flanking Goodyear's winged foot logo. It's been dressed up for a private event in connection to a nearby annual car festival called the Woodward Dream Cruise. But despite the stylish touches, it's still a tire shop. The smell of rubber and oil remains in the air and the sound of workers changing tires combines with music from a DJ inside the shop's waiting room. The scene is symbolic of Stewart's ongoing "Goodyear Forward" turnaround plan. He's trying to make tires - a historically dirty business - more attractive for investors and friendlier for consumers. "We have made so much progress, and when you think about it from the standpoint of the Goodyear Forward program, it was really to get our feet back on the ground towards being the iconic company that we always were," Stewart, wearing an unbuttoned navy blue Goodyear technician shirt, told CNBC during an interview at the shop. But while Goodyear is well known for burning rubber, it's also burning cash as it restructures and tries to refinance and pay down years of debt. Goodyear CEO Mark Stewart (right) being interviewed by CNBC reporter Michael Wayland on Aug. 14, 2026, inside a bay of one of the company's retail locations in Detroit. Screenshot The company's capital expenditures were roughly $2 billion combined in 2024 and 2025, with expectations of $725 million this year. Its debt remained at more than $7 billion at the end of the second quarter. Goodyear's net loss was $453 million through the first half of the year, while its operating income was $131 million, or a 1.6% margin. Under the turnaround plan, Stewart wanted Goodyear to reach a 10% operating margin by the end of last year. Instead, that came in at 8.5% in the fourth quarter, and it's still an outstanding goal for the company to hit that mark. "We're working on getting to that double-digit margin, and we're working on meaningfully generating cash flow," Stewart said. "It's been a long time since Goodyear's done that. That we absolutely must do." The automotive veteran was named CEO of Goodyear after leaving Chrysler parent Stellantis in January 2024. Since then, shares of the company have fallen more than 50% despite Goodyear achieving many of the milestones he's set out to accomplish with the plan. Stewart doesn't make excuses for not hitting the targets even though Goodyear's business, like many, has been impacted by tariffs, inflated raw material costs and the expansion of cheaper Chinese products. "We still have a lot of geopolitical headwinds that we're working through... a lot of headwinds with raw material indexes and a bit of the hangover from the tariff environment," he said, adding that overseas manufacturers continue to have cost advantages compared to Goodyear. Stock Chart IconStock chart icon Goodyear Tire & Rubber Co. stock Goodyear's raw material costs are expected to be roughly flat year-over-year, but a $200 million headwind during the second half, largely due to higher commodity costs associated with the conflict in the Middle East, according to the company and Wall Street analysts. "Goodyear has faced many big challenges over the past few years, ranging from slower consumer (and commercial) demand, to rising raw material costs, to higher capital expenditures (capex), to low-priced Asian imports (into the U.S.), and, more recently, to trade and tariff legislation. It hasn't been easy for Goodyear," Argus analyst Bill Selesky said in an Aug. 17 investor note. Goodyear is rated a hold with a price target of $7.60, according to average analyst ratings compiled by FactSet. Shares of the company closed Friday at $6.35, down 27% this year. Goodyear Forward rolls on The Goodyear Forward turnaround strategy was initially expected to be a two-year plan that went through last year, but the CEO has continued it as he and his executive team map out what's next for the 128-year-old Akron, Ohio-based company. "At the right time, we will announce that," Stewart said. "We continue to press ahead to the next challenges and make sure we get the business in the right space." The Goodyear Forward plan had already been released when Stewart was named as incoming CEO, but he has been able to make it his own, including by adding cuts and cost savings. The turnaround plan has cut roughly $1.5 billion in annualized costs from the business, according to the company. Racing tires displayed inside the factory floors of Goodyear's headquarters in Akron, Ohio, on Feb. 27, 2025. Michael Wayland / CNBC Part of the plan under Stewart has been to move Goodyear more into the premium tire segment, including by selling off units such as its Dunlop brand. It also plans to launch more than 1,600 new products this year, most of which are in higher-end segments with bigger margins. The product restructuring comes as non-U.S. brands, especially Chinese ones such as Sumitomo and Yokohama, have been expanding globally with cheaper products in lower-end segments, according to Stewart. Similar to how Chinese automakers have grown outside their own country, tire manufacturers have also been turning to more exports, including the U.S. "We are not going to compete against a $6 or $10 converted tire. That's not who we are as Goodyear," Stewart said, referring to the manufacturing cost required to convert raw materials into a finished tire. Despite the challenges globally, Goodyear's Asia-Pacific region is a bright spot for the company. Its segment operating income for the second quarter was $63 million, with an operating margin of 12.7%. Its U.S. operations have been a main drag on the company's financials. Stewart is trying to turn that around as consumer demand slows. The company said its cash burn is expected to continue into 2027 but moderate as the announced closure next year of a plant in Fayetteville, North Carolina, is expected to improve its Americas segment operating income by $270 million annually. "We had to take a very difficult decision, but a necessary one to announce the closure of our Fayetteville, North Carolina facility. We absolutely didn't take that lightly, but we just didn't have a pathway to be competitive out of that facility," Stewart said. The Goodyear Forward plan was prompted by activist investor Elliott Investment Management revealing a stake in the company in 2023. A spokesperson for Elliott, which supported three new Goodyear board members, declined to comment on the company or the firm's current ownership status. Goodyear blimps flying high Part of the Goodyear Forward strategy is to increase focus on marketing and advertising to connect with customers to reinforce the brand. A large part of that - both physically and financially - comes from the company's iconic Goodyear blimps that have flown as giant advertisements for more than a century. A Goodyear blimp flies behind a historic sign for the company in Akron, Ohio. Goodyear "The blimp team and the marketing team have really embraced it. So we do a lot of activation around the blimp to literally sell tires," Stewart said. "When the blimp media marketing has their hat on, it's always in context of 'How do we tie this to the tires?'" Stewart said Goodyear has leaned into the promotion, using social media platforms to tout its aircraft - and their connection to tires - and launching "buy to fly" campaigns in which tire retailers and consumers can win flights aboard its blimps. The company was showing off its revamped store alongside a Detroit event that attracts hundreds of thousands of car enthusiasts along a 16-mile stretch annually. To celebrate, and get its advertising in front of tire buyers, it held a rare double-blimp appearance, according to the company. It also featured a collection of smaller "mini blimps." "We've always made the tires worth bragging about," Stewart said. "We're just reminding people now, and that ties into our marketing and advertising as well." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. The new era of interactive journalism