Goodyear’s Financial Woes: Q4 Loss Unravels

Goodyear Tire & Rubber Reports Widened Loss in Q4 as Business in Europe, Middle East, and Africa Struggles

Akron, Ohio-based tire manufacturer, Goodyear Tire & Rubber, has revealed that its loss in the fourth quarter of 2021 increased significantly, primarily due to its struggling business in Europe, the Middle East, and Africa (EMEA). The company reported a loss of $291 million, or $1.02 per share, in the quarter that ended on December 31. This represents a significant jump from the loss of $104 million, or 37 cents per share, recorded during the same period in the previous year. The loss came as a surprise to analysts who were expecting a per-share profit of 28 cents according to a poll by FactSet.