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What were the key takeaways from The Goodyear Tire & Rubber’s earnings call?

- **OE Share Growth**: 7 straight quarters of OE gains in Americas/EMEA, driven by premium products and USMCA compliance.
- **2026 Outlook**: $250M+ Goodyear Forward savings vs. $200M inflation, $160M tariffs, and $45M EBIT impact from chemicals sale.
- **Tariff Dynamics**: $300M annualized tariffs, with $80M Q4 impact and $160M 2026 headwind, offset by $60M amortization of sale proceeds.
- **Retail Expansion**: New stores, service enhancements, and last-mile fleet growth driving retail SOI +10%+.
- **Asia Pacific Momentum**: China OE fitment wins (Geely, VW, Toyota) to drive Q4+ growth, with 18+ rim size share gains.


**【CEO Summary Section】**
- **Goodyear Forward Execution**: CEO Mark Stewart highlighted 7 consecutive quarters of OE share gains in both Americas and EMEA, driven by premium product launches (e.g., Wrangler Outbound AT, Eagle F1) and USMCA-compliant supply preferences. Retail expansion includes new store openings and last-mile fleet business growth.
- **Market Dynamics**: U.S. consumer replacement market faces elevated channel inventories due to low-cost imports, while EMEA saw EMEA OE volume grow 20% with winter tire order strength. Asia Pacific focused on high-margin SKUs, with OE fitment wins in China.

**【CFO Financial Commentary】**
- **Q3 Results**: Revenue $4.6B, SOI $287M (down vs. prior year but +$128M vs. Q2). Goodyear Forward delivered $185M benefits, offsetting $90M volume headwinds. Q4 outlook: SOI expected to grow mid-single digits YoY, with $135M price/mix benefit and $180M Goodyear Forward contributions. 2026 guidance includes $250M+ Goodyear Forward savings, $200M raw material benefits, and $160M tariff headwinds.
- **Tariff Impact**: Annualized tariffs ~$300M, with $80M Q4 impact. Chemicals divestiture to reduce EBIT by ~$45M annually, partially offset by $60M amortization of sale proceeds.

**【Q&A Highlights】**
- **OE Sustainability**: CEO emphasized long-term OE strategy via premium products and fleet subscriptions, despite near-term commercial truck volume declines. CFO noted 2026 inflation (~$200M) and tariff ($160M) headwinds, balanced by $250M+ Goodyear Forward savings. EMEA winter tire strength expected to persist, while U.S. imports slowing but channel inventory digestion to take ~2 quarters.
- **Tariff Mitigation**: Active lobbying for fair trade policies, with $200M restructuring costs in Q4 to optimize global manufacturing. Chemicals sale to reduce raw material costs, though internal supply loss creates $120M annual headwind.


The Goodyear Tire & Rubber Company (GT) Q3 2025 Earnings Call Transcript

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GT

GT fundamentals

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