The Goodyear Tire & Rubber Company has extended the timeline for its "Goodyear Forward" turnaround plan after key financial targets went unmet, with CEO Mark Stewart telling CNBC the company is working toward a 10% operating margin and meaningful cash flow. Debt remained above $7 billion at the end of the second quarter, and the company posted a $453 million net loss through the first half of the year against operating income of just $131 million, a 1.6% margin. The business has been hit by tariffs, elevated raw material costs, and expanding competition from cheaper Chinese tire imports. Capital expenditures, which ran roughly $2 billion combined in 2024 and 2025, are expected to fall to $725 million this year as the company prioritizes debt paydown and refinancing.
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Alphabet Inc Class CGoodyear Tire & Rubber CoExpanding competition from cheaper Chinese tire imports is cited as a hit to Goodyear's business
