Goodyear Q2 sales down 41%Christian Fernsby ▼ | August 1, 2020
Goodyear reported results for the second quarter of 2020.
Goodyear Decline was driven by lower industry volume and reduced sales
The decline was driven by lower industry volume and reduced sales from other tire related businesses.
These factors were partially offset by improvements in price mix.
Tire unit volumes totaled 20.4 million, down 45% from the prior year’s period.
Goodyear’s second quarter 2020 net loss was $696 million compared to net income of $54 million a year ago.
Second quarter 2020 adjusted net loss was $437 million compared to adjusted net income of $58 million.
The company reported a segment operating loss of $431 million in the second quarter of 2020, down $650 million from a year ago. ■