Goodyear: A Bargain In Plain Sight
Brian Grosso • 13 Comments
Brian Grosso • 13 Comments
Goodyear Tire: Still Room To Run
Bleecker Street Research
Bleecker Street Research
Wed, Apr. 27, 9:31 AM
- Goodyear Tire & Rubber (NASDAQ:GT) reports tire unit volume increased 2% to 41.5M in Q1, driven by growth in the Asia Pacific region, primarily in Japan and China.
- Original equipment unit volume rose 2% Y/Y.
- Replacement tire shipments grew 2% Y/Y.
- Segment sales: North America: $1.95B (-13%); EMEA: $1.25B (-6%); Asia Pacific: $489M (+8.7%).
- Gross margin rate advanced 300 bps to 6.8%.
- Segment operating margin: North America: 13.3% (+220 bps); EMEA: 6.4% (+90 bps); Asia Pacific: 16.2% (+130 bps).
- Total segment operating margin rate improved 180 bps to 11.4%.
Wed, Feb. 10, 12:46 PM
- The tire stocks rally extends into a second day with both Goodyear Tire & Rubber (GT +5.4%) and Cooper Tire & Rubber (CTB +4.6%) adding to yesterday's gains.
- Strong volume in the tire sector is helping to leverage some costs lower.
- Both stocks are still in negative territory for the year.
- Previously: More on Goodyear Tire & Rubber's Q4 (Feb. 9)
- Previously: CLSA turns from bear to bull on Goodyear Tire & Rubber (Feb. 10)
Tue, Feb. 9, 8:42 AM
- Goodyear Tire & Rubber (NASDAQ:GT) reports tire unit volume rose 7% to 42.1M in Q4.
- Original equipment unit volume grew 2% Y/Y.
- Replacement tire shipments increased 9% Y/Y.
- Segment sales: North America: $1.912B (-9%); EMEA: $1.191B (-9%); Asia Pacific: $559M (+9%); Latin America: $401M (-8%).
- Gross margin rate improved 110 bps to 24.4%.
- Segment operating margin: North America: 13.9% (+300 bps); EMEA: 8.4% (+610 bps); Asia Pacific: 17.2% (+150 bps); Latin America: 3.5% (-110 bps).
- GT +0.61% premarket.
Wed, Jan. 20, 3:40 PM
- Auto suppliers Federal-Mogul Holdings (FDML +11.1%), Motorcar Parts of America (MPAA +6.2%), Gentherm (THRM +5%), Meritor (MTOR +4.3%), and Stonebridge (SRI +2.8%) are all showing outsized gains on the day, despite global stock market declines. The sector has been off to a volatile start this year.
- Tire stocks Goodyear Tire & Rubber (GT +2.2%) and Cooper Tire & Rubber (CTB +0.7%) are also in solid shape today.
- Though some forecasts call for automobile sales growth to slow in China and the U.S. this year, strong demand from Europe is making up for some of the slack.
- Previously: European automobile market stays on promising track (Jan. 18 2016)
Jun. 29, 2015, 10:38 AM
- Select auto supplier stocks are feeling the sharpest pinch in the consumer goods sector from the developments in Greece.
- Westport Innovations (WPRT -4.6%), Delphi Automotive (DLPH -3.3%), and Tower International (TOWR -1.8%) are all trading weaker than broad averages.
- Goodyear Tire & Rubber (GT -3.4%) and Cooper Tire & Rubber (CTB -1.8%) are also feeling pressure.
Jun. 10, 2015, 8:35 AM
- Goodyear Tire & Rubber (NASDAQ:GT) is downgraded by CLSA to an Underperform rating.
- The Asian investment firm dropped Goodyear two notches from a previous rating of Buy due to valuation and some concerns on rubber prices.
- CLSA has a $33 price target on the tire producer.
- GT -0.35% premarket to $31.39.
Apr. 29, 2015, 9:27 AM
- Goodyear Tire & Rubber (NASDAQ:GT) reports tire unit volume rose 2% to 40.8M in Q1.
- Original equipment volume +3%.
- Replacement tire shipments +2%.
Segment sales: North America: $1.858B (-1%);EMEA: $1.331B (-21%); Asia Pacific: $450M (-9%); Latin America: $385M (-9%).
- Gross margin rate increased 253 bps to 23.81%.
- Segment operating margin: North America: 10.7% (+240 bps); EMEA: 5.5% (-110 bps); Asia Pacific: 14.9% (+170 bps); Latin America: 13.8% (+380 bps).
- GT +2.17% premarket.
Apr. 29, 2015, 8:17 AM
- Goodyear Tire & Rubber (NASDAQ:GT): Q1 EPS of $0.56 beats by $0.12.
- Revenue of $4.02B (-10.1% Y/Y) misses by $70M.
- Shares +1.9% PM.
Feb. 17, 2015, 9:37 AM
- Goodyear Tire & Rubber (GT +3.2%) saw a one-time tax credit go a long ways to offsetting painful F/X translation in Q4.
- North America tire unit volume fell 1.8% to 16M during the quarter.
- Europe/Middle East/Africa tire volume -11.1% to 12.8M.
- Latin America tire volume +6.8% to 4.4M.
- Asia-Pacific tire volume +7.1% to 6.0M.
- The company announced it will launch an online buying site in North America.
- Guidance: Goodyear expects segment operating income to grow between 10% and 15% Y/Y in 2015 and 2016.
Feb. 17, 2015, 8:18 AM
- Goodyear Tire & Rubber (NASDAQ:GT): Q4 EPS of $0.59 beats by $0.01.
- Revenue of $4.4B (-8.1% Y/Y) beats by $30M.
- Shares +3.4% PM.
Oct. 29, 2014, 11:37 AM| Oct. 29, 2014, 11:37 AM
Oct. 29, 2014, 9:15 AM
Oct. 29, 2014, 8:18 AM
- Goodyear Tire & Rubber (NASDAQ:GT): Q3 EPS of $0.87 beats by $0.17.
- Revenue of $4.66B (-6.8% Y/Y) misses by $270M.
- Shares +2.97% PM.
Jun. 16, 2014, 8:22 AM
- Shares of Goodyear Tire & Rubber (GT) are higher in premarket trading after Barron's lines up the stock as an undervalued gem.
- A strong global automobile market and improved financials at Goodyear are the basis for the bull thesis.
- Barron's notes significant investors Appaloosa Management and Marcato Capital Management are on board for the ride.
- GT +2.5% premarket
Apr. 29, 2014, 9:02 AM
- Shares of Goodyear Tire & Rubber (GT) fall in early trading after the company misses sales and profit estimates with its Q1 report.
- The company suffered from weak demand in the northeast part of the U.S. with harsh weather a factor. Dips in the Venezuelan currency also took a toll.
- GT -5.5% premarket
Apr. 24, 2014, 8:27 AM
- Shares of Goodyear Tire & Rubber (GT) race higher in early action after the stock lands on the Goldman Sachs Conviction Buy list.
- The firm sees significant potential for volume growth and margin expansion.
- GT +5.2% premarket to cruise past the 52-week high of $28.32.
Goodyear Tire & Rubber Co. is engaged in developing, manufacturing, distributing and selling tires and related products and services worldwide. It manufactures and markets numerous lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and... More
Sector: Consumer Goods
Industry: Rubber & Plastics
Country: United States
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