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THE GOODYEAR TIRE & RUBBER COMPANY

(GT)
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Goodyear Tire & Rubber : LAUNCHES NEW PURCHASE OPTIONS TO BRING AUTOMATED TIRE INSPECTION TECHNOLOGY TO FLEETS ACROSS NORTH AMERICA

09/16/2021 | 11:40am EDT

AKRON, Ohio - The Goodyear Tire & Rubber Company today announced that it will now offer customized leasing options for Goodyear CheckPoint, a drive-over-reader device that automatically inspects tire pressure and tread depth and sends actionable insights to fleet managers.

These new leasing options will make Goodyear CheckPoint more accessible to Goodyear national account fleets of all sizes throughout the U.S. and Canada. By working with a Goodyear sales associate, such fleets can explore use of the device and payment options for their business.

With Goodyear CheckPoint installed at a fleet yard entrance, the in-ground device automatically scans passing trucks and triggers alerts to fleet maintenance teams if there are any immediate tire concerns that require attention, such as low pressure or tread wear. This solution enables large numbers of vehicles to be inspected efficiently and offers a frequently updated snapshot of a fleet's overall tire program health.

'Goodyear CheckPoint is designed to help fleets to better maintain their tires by keeping pressure at optimal levels, which can extend both casing life and tread wear,' said Johnny McIntosh, director, Goodyear Integrated Tire Solutions. 'This can add up to significant cost savings, as improper air pressure causes about 85% of tire failures1, which often result in unanticipated and costly roadside breakdowns.'

Goodyear CheckPoint has also shown to help fleets save on labor. In one study comparing the time it takes to conduct tire inspections with the drive-over-reader device versus manual inspections, Goodyear CheckPoint delivered a 90% reduction in time taken to inspect fleet tire depth and pressure2.

This year alone, Goodyear CheckPoint devices in North America have automatically inspected more than 1.5 million tires and alerted fleets to 126,000 potential, costly issues so they could proactively seek maintenance.

Goodyear CheckPoint is part of Goodyear's Total Solution of trusted products, premier service network and complete tire management. For more information, visit Goodyeartrucktires.com.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 72,000 people and manufactures its products in 55 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

1 Federal Motor Carrier Safety Administration - Washington, DC Commercial Vehicle Condition Sensors, Booze Allen Hamilton Inc. 2003.

2Comparative data from Transportes Garcia de la Fuente, Madrid, to check 750 vehicles with versus without CheckPoint (fka DOR).

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 17 134 M - -
Net income 2021 418 M - -
Net Debt 2021 7 301 M - -
P/E ratio 2021 12,2x
Yield 2021 -
Capitalization 5 421 M 5 421 M -
EV / Sales 2021 0,74x
EV / Sales 2022 0,61x
Nbr of Employees 62 000
Free-Float 86,4%
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Technical analysis trends THE GOODYEAR TIRE & RUBBER COMPANY
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 19,28 $
Average target price 20,00 $
Spread / Average Target 3,73%
EPS Revisions
Managers and Directors
Richard J. Kramer Chairman, President & Chief Executive Officer
Darren R. Wells Chief Financial Officer & Executive Vice President
Sherry L. Neubert Chief Information Officer & Vice President
Christopher P. Helsel Chief Technology Officer & SVP-Global Operations
W. Alan McCollough Independent Director
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