Goodyear’s third quarter featured revenue that modestly exceeded analyst expectations, but profitability remained a headwind as the company reported a non-GAAP loss per share and a negative operating margin. Management attributed the shortfall primarily to persistent weakness in consumer replacement demand in Europe, the Middle East, and Africa (EMEA), as well as ongoing challenges in the Americas’ commercial replacement segment. CEO Mark Stewart acknowledged, “Our earnings remain below our expectations,” citing elevated fixed costs and continued competitive pressure as key drags on results. The company’s ongoing SKU rationalization and deliberate focus on higher-value tire segments contributed to near-term volume and utilization headwinds.

Is now the time to buy GT? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our top 5 analyst questions from Goodyear’s Q3 earnings call

• James Mulholland (Deutsche Bank): Mulholland pressed for details on the transformation office’s scope beyond Goodyear Forward, specifically asking if further portfolio divestitures or facility modernizations were planned. CEO Mark Stewart emphasized the focus on premium segments and confirmed that full details will be shared after thorough internal analysis, rather than incremental updates.
• James Picariello (BNP Paribas): Picariello asked about the timeline and magnitude of raw material cost headwinds and their impact on earnings in 2027. CFO Scott Deakin replied that raw material pressures are expected to persist into the first half of next year, with possible relief later depending on commodity trends and improved capital efficiency.
• James Picariello (BNP Paribas): Picariello also queried about the impact of new EU anti-dumping tariffs on Chinese tire imports. Stewart said Goodyear could see some benefit, particularly in its value segments, but expects any advantage to be short-lived as market supply chains adjust.
• Itay Michaeli (TD Cowen): Michaeli sought clarification on Goodyear’s assumptions for price/mix versus raw material costs in its transformation plan. Deakin explained that while the company aims to improve the balance through premiumization, passing through all cost increases remains challenging given current industry conditions.
• Jose Asumendi (JPMorgan): Asumendi questioned Goodyear’s minimum liquidity needs and the expected cash position as transformation plans unfold. Deakin responded that the current liquidity of $4.5 billion is sufficient for ongoing restructuring, and any changes in requirements will be communicated alongside the rollout of transformation initiatives.

Catalysts in upcoming quarters

Looking ahead, the StockStory team will be watching (1) whether Goodyear’s transformation office outlines a comprehensive plan to deliver structural margin improvements, (2) how effectively the company executes facility closures and streamlines its manufacturing footprint, and (3) the pace at which premium product mix expansion translates into sustainable free cash flow. Continued progress in working capital efficiency and stabilization of raw material costs will also be important signals.

Goodyear currently trades at $4.44, down from $4.53 just before the earnings. In the wake of this quarter, is it a buy or sell? The answer lies in our full research report (it’s free).

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