By Elias Schisgall

Goodyear Tire & Rubber swung to a loss in the first quarter, reporting struggling tire demand across much of its business.

"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," Chief Executive Officer Mark Stewart said.

He added that pressure on demand, as well as input cost inflation from the war in Iran, "require that we continue to take meaningful actions to strengthen our cost structure." He said he was confident that Goodyear could deliver an effective cost transformation.

The tire manufacturer on Wednesday reported a loss of $249 million, or 86 cents a share, compared with a profit of $115 million, or 40 cents a share, a year earlier.

Stripping out certain one-time items, the company reported an adjusted loss of 39 cents a share. Analysts polled by FactSet were expecting an adjusted loss of 44 cents a share.

Net sales fell to $3.88 million from $4.25 billion. Analysts were expecting $3.81 billion in revenue.

In the Americas, net sales fell to $2.06 billion from $2.5 billion, while the operating margin fell to 1.8% from 6.2%. Sales in the Asia Pacific region fell to $455 million from $474 million.

In the Europe, Middle East, and Africa region, sales rose to $1.36 billion from $1.28 billion.

The company in March said it plans to eliminate roughly 400 jobs in Europe, the Middle East, and Africa as part of a streamlining effort.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

Goodyear Tire & Rubber reported first-quarter net sales of $3.88 billion. "Goodyear Tire & Rubber Swings to 1Q Loss, Citing Weak Demand," at 4:51 p.m. ET, incorrectly said net sales were $3.88 million.

(END) Dow Jones Newswires

May 06, 2026 17:03 ET (21:03 GMT)

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