Goodyear Announces Closure of South Africa Facility

GoodYear Tire ( (GT) ) has provided an update.

On June 2, 2025, Goodyear Tire & Rubber Company announced a plan to close its manufacturing facility in Kariega, South Africa, affecting approximately 900 jobs. This decision, part of the EMEA business unit, is expected to incur charges between $100 million and $110 million, with anticipated improvements in operating income by $10 million annually from 2026.

The most recent analyst rating on (GT) stock is a Hold with a $10.20 price target. To see the full list of analyst forecasts on GoodYear Tire stock, see the GT Stock Forecast page.

Spark’s Take on GT Stock

According to Spark, TipRanks’ AI Analyst, GT is a Neutral.

Goodyear Tire’s overall stock score reflects a company with mixed financial performance, facing challenges with declining revenues and high leverage. However, technical indicators show positive momentum, and recent strategic initiatives, such as asset sales and board appointments, are promising. The valuation is fair but tempered by the absence of a dividend yield. Earnings call highlights and corporate events provide some optimism, yet the company must address core financial challenges to strengthen its position.

To see Spark’s full report on GT stock, click here.

More about GoodYear Tire

Goodyear Tire & Rubber Company operates in the automotive industry, primarily manufacturing tires. It serves a global market with a focus on providing high-quality tire products for various vehicles.

Average Trading Volume: 6,215,893

Technical Sentiment Signal: Buy

Current Market Cap: $3.23B

For an in-depth examination of GT stock, go to TipRanks’ Stock Analysis page.