GT - Goodyear Tire & Rubber: Not Going To Be A Very Good Year
2024-06-02 10:34:44 ET
Summary
- Goodyear Tire & Rubber has struggled with a debt overhang following the acquisition of Cooper Tire & Rubber, attracting activist investor Elliott Management into pushing for changes.
- The company's performance has been disappointing, with sales declining and substantial losses posted.
- Goodyear has announced a plan to sell non-core assets and reduce leverage, but execution risks and lack of tangible progress make the investment case uncertain.
At the start of the year, I believed that Goodyear Tire & Rubber ( GT ) was rolling into 2024. The company has seen a real debt overhang following the acquisition of Cooper Tire & Rubber, impacting the business and investment case for quite a while now....
Goodyear Tire & Rubber: Not Going To Be A Very Good Year