Goodyear Tire & Rubber Company posted a first quarter net loss of $246m, reversing a $118m profit a year earlier, as falling tyre volumes and rising costs offset gains from its ongoing transformation programme.
The US tyre maker’s loss attributable to shareholders reached $249m for the three months to 31 March 2026, against a $115m profit in the same period of 2025, after accounting for $3m in minority interest income in both periods.
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Net sales fell to $3.88bn from $4.25bn, with tyre unit volumes dropping to 34 million from 38.5 million.
The company recorded a pre-tax loss of $180m, compared with pre-tax income of $131m previously.
Segment operating income halved to $95m from $195m, though the figure included a $46m benefit from a tariff adjustment following a US Supreme Court ruling.
Excluding the impact of the Chemical business and Dunlop brand disposals, segment operating income fell by $63m.
Results were pressured by $163m in higher inflation and other costs, and a $159m drag from lower volumes.
The Americas was the hardest-hit region, with net sales falling 17.5% year-on-year to $2.06bn and tyre unit volumes declining 17% to 15.3 million.
Segment operating income collapsed to $37m from $155m.
Goodyear attributed the decline to weak consumer replacement demand, soft North American market conditions, heightened competitive pressure and the disposal of its Chemical business.
Europe, the Middle East, and Africa bucked the trend, with net sales rising 6.7% to $1.36bn despite an 8.9% dip in tyre unit volumes to 11.2 million.
The region returned to operating profitability at $1m, up from a $5m loss, supported by favourable currency movements and price/mix dynamics.
Asia Pacific reported net sales of $455m, down 4%, as tyre unit volumes edged down 3.8% to 7.5 million amid soft original equipment demand in China.
Segment operating income nonetheless improved to $57m from $45m, driven by price/mix gains and Goodyear Forward savings.
Goodyear CEO and president Mark Stewart said: “The first quarter reflected a challenging environment, marked by weak consumer industry demand in both OE and replacement across the majority of our key geographies.
“Despite a weak environment, our first quarter results were in line with our expectations and reflect our commitment to drive value for our brands in the marketplace, where we offer world-class differentiated products and services.”
