Auto supply company Goodyear Tire & Rubber Co (NASDAQ:GT) is one of the many companies in the sector feeling the impact of tariffs on imports from President Donald Trump.
Here’s what the company said during its second-quarter earnings call.
What Happened: Goodyear released second-quarter results Thursday after market close. The company reported a loss of 17 cents per share. Analysts expected a profit of 7 cents per share.
Revenue of $4.46 billion missed analyst estimates of $4.47 billion, according to data from Benzinga Pro.
“The second quarter proved challenging in both our consumer and commercial businesses, driven by industry disruption stemming from shifts in global trade – including a surge of low-cost imports across our key markets,” Goodyear CEO Mark Stewart said in the earnings report.
Goodyear only mentioned the term “tariff” once during the earnings report and it was in the forward-looking statements.
For more details on the impact tariffs had on Goodyear Tire, investors should refer to the company’s earnings …