Just ran the exercise of the likelihood of Goodyear going bankrupt given the latest financial release today and taking into consideration the last 8 earnings releases. This qtr was the first time the likelihood of bankruptcy went OVER 50% by 2029. Due to its continued margin erosion, sale loss, ratings downgrade, higher interest rates on upcoming debt obligations and category headwinds.
This is insane how this is accelerating. The slogan “fast is in us “ is literally going to be how soon Goodyear goes bankrupt.
In the commentary it mentions a task force set up to cut more. The problem is now they can’t cut fast enough. Time, interest rates and competition are not on Goodyears side. What a mess.