The Goodyear Tire & Rubber Company (NASDAQ:GT) Q4 2023 Earnings Call Transcript
The Goodyear Tire & Rubber Company (NASDAQ:GT) Q4 2023 Earnings Call Transcript February 13, 2024
The Goodyear Tire & Rubber Company isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good morning. My name is Nikki, and I will be your conference operator today. At this time, I would like to welcome everyone to Goodyear's Fourth Quarter 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After some opening remarks, there will be a question-and-answer session. [Operator Instructions] Today on the call we have Mark Stewart, Goodyear's Chief Executive Officer and Christina Zamarro, Chief Financial Officer. During this call, Goodyear will refer to forward-looking statements and non-GAAP financial measures. Forward-looking statements involve risks, assumptions and uncertainties that could cause actual results to differ materially from those forward-looking statements.
For more information on the more significant factors that could affect future results, please refer to the important disclosures section of Goodyear's Fourth Quarter 2023 Investor Letter and their filings with the SEC, which can be found on their website at investor.goodyear.com, where a replay of this call will also be available. A reconciliation of the non-GAAP financial measures that may be discussed on today's call to the comparable GAAP measures is also included in the investor letter. I will now turn the call over to Mark Stewart, CEO.
Mark Stewart: Thank you, Nikki. Good morning, everybody, and thank you for joining Christina and I this morning for what is my first conference call as the Goodyear CEO. I'm just now over two weeks in my new role. I could not be more excited to have joined this iconic company. As you guys can imagine, I'm working diligently, quickly to a deep understanding of our business. I'm meeting with our people, visiting our factories, getting to know our customers, our products, our cost structures, and doing that through operational deep dives. I'm looking forward to engaging with the investment community as well over the course of the next several months to gain your perspective as well. As many of you have read, my most recent role was at Stellantis, where I ran the company's North America operations and a key leader on the global executive team.
I will bring a perspective from an automotive OEM and automotive supplier background and the understanding of needing to lead through industry cyclicality and a clear focus on manufacturing, purchasing, engineering and logistics in order for us to achieve our financials. What this means is that in addition to spending time meeting our customers, understanding our products and product placement, you can expect me to focus heavily on Goodyear's manufacturing operations and distribution, understanding it on every level, and working with the team to enhance capability and our cost effectiveness. As well, I will focus on clean sheeting and share cost activities, our SKU or product complexity, as well as our go-to-market strategies. Like all other aspects of our business, that focus will be centered purely around our Goodyear Forward in the coming months.
I'm engaged in deep dives on each element of the program, the associated work stream, our amazing teams, and committed to delivering the outcomes of the Forward plan. I've been a part of leading transformational efforts and driving results in my past roles and bringing them to the bottom line through clear KPIs, the definition, the tracking and speed of execution. For Goodyear, for us, it's about maximizing our strength and our market position in North America, is improving our cost structure as well as derisking our balance sheet. Ultimately, I'm confident Goodyear Forward will drive our company's next stage of profitable growth and success. It's clear, and I fully support the plan. With that by now, you read our investor letter from yesterday evening.
Christine and I would like to get right to your questions. So with that, Nikki, let's open the line.
See also 15 Worst States to Retire in 2024 and 12 Best Quality Dividend Stocks To Invest In.
To continue reading the Q&A session, please click here.
