The Goodyear Tire & Rubber Company reported second-quarter 2025 net sales of $4.5 billion, with tire unit volumes totaling 37.9 million. The company posted a net income of $254 million, or $0.87 per share, compared to $79 million, or $0.28 per share, a year ago. However, adjusted net loss for the quarter was $48 million, or $0.17 per share, compared to adjusted net income of $48 million, or $0.17 per share, in Q2 2024.
Segment operating income for the second quarter was $159 million, a decrease from $334 million in the prior year, primarily driven by higher raw material costs. Despite challenging market conditions, including a surge of low-cost imports, the Goodyear Forward transformation plan delivered $195 million in benefits during the quarter. The company expects market conditions to stabilize in the coming quarters and anticipates exceeding original Goodyear Forward goals for cost savings and asset sales proceeds.
Goodyear highlighted the completed sale of its Off-the-Road (OTR) tire business on February 3, 2025, which generated $905 million in gross cash proceeds. Additionally, the sale of the Dunlop brand to Sumitomo Rubber Industries, Ltd., was completed on May 7, 2025, yielding $735 million in gross cash proceeds. A definitive agreement to sell the majority of the Goodyear Chemical business to Gemspring Capital Management, LLC, was reached on May 22, 2025, with an expected close in late 2025, further contributing to deleveraging efforts.
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