Earnings release
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NEWS RELEASE Exhibit 99.1 FOR IMMEDIATE RELEASE GLOBAL HEADQUARTERS : 200 INNOVATION WAY , AKRON , OHIO 44316-0001 MEDIA WEBSITE : WWW.GOODYEARNEWSROOM.COM MEDIA CONTACT : ED MARKEY 330.796.8801 EMARKEY@GOODYEAR.COM ANALYST CONTACT : NICHOLAS MITCHELL 330.796.5512 NICHOLAS MITCHELL@GOODYEAR.COM GOODYEAR REPORTS FIRST QUARTER 2021 RESULTS – First quarter Goodyear net income of $ 12 million ; adjusted net income of $ 102 million - First quarter segment operating income of $ 226 million , strongest first quarter since 2018 - Global consumer replacement volume significantly exceeded industry , driven by large - rim diameter segment - Record first quarter consumer replacement volume in Asia Pacific - Americas , EMEA consumer OE volumes outpaced market - First quarter revenue per tire up 3 % , excluding foreign currency AKRON , Ohio , April 30 , 2021 - The Goodyear Tire & Rubber Company today reported results for the first quarter of 2021 . " We delivered impressive segment operating income , which was significantly above first quarter 2020 results and also nearly 20 percent higher than first quarter 2019 despite sales volumes not yet having fully recovered to pre - COVID levels , " said Richard J. Kramer , chairman , chief executive officer and president . " We achieved these results despite the impact of a severe winter storm in the U.S. and industry supply chain challenges during the quarter . " Our consumer replacement business delivered outstanding results . By leveraging improved distribution and new products , we outperformed the industry while expanding margins . At the same time , we also continued to build our OE business , where we are benefiting from our leading technical capabilities and emerging mobility trends , ” continued Kramer . " I'd like to acknowledge and thank all of our associates for continuing to manage through personal and professional challenges to deliver for our customers and communities , ” added Kramer . Goodyear's first quarter 2021 sales were $ 3.5 billion , up 15 % from a year ago . The increase was driven by higher volume , improvements in price / mix and favorable foreign currency translation . 1 ( more ) GOOD YEAR .