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4-Traders Homepage  >  Equities  >  Nasdaq  >  Goodyear Tire & Rubber Co    GT

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Goodyear Tire & Rubber : and NASCAR Extend Historic Relationship

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11/18/2017 | 04:13pm CET

DAYTONA BEACH, Fla., Nov. 18, 2017 /PRNewswire/ -- NASCAR and The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced a renewed, multi-year sponsorship agreement that ensures Goodyear is the exclusive tire of NASCAR's top three national series.

The newly signed agreement continues Goodyear's designation as the "Official Tire of NASCAR" and extends an uninterrupted relationship that started in 1954. Goodyear and NASCAR's six decade-long relationship is one of the longest-running sponsor programs in any major sport.

"We proudly join Goodyear in celebrating our renewed and longstanding partnership," said Brent Dewar, NASCAR president. "For more than half a century, NASCAR and our teams have trusted Goodyear tires. Our partners' commitment to innovation and excellence plays a key role in our unyielding pursuit to deliver the best racing product in the world."

From the introduction of the racing slick in 1972 to the radial tire in 1989 to multi-zone tread design in 2013, Goodyear and NASCAR have consistently innovated to deliver compelling racing. NASCAR has served as a proving ground for Goodyear, preparing and supplying tires that meet the most grueling and demanding conditions. The technology that goes into a tire to withstand and perform in those conditions helps inform and differentiate Goodyear's consumer tires.

"We are tremendously proud of the pivotal role Goodyear plays in the best racing competition in the world and excited that NASCAR drivers will be crossing the finish line on Goodyear tires in the years ahead," said Richard J. Kramer, chairman, chief executive officer and president of Goodyear. "With this new agreement in place, we celebrate our enduring relationship with NASCAR and the continuing value of NASCAR to the Goodyear brand."

Goodyear produces more than 100,000 tires for NASCAR's top three series every year and each tire is custom-built by the hands of passionate Goodyear associates in Akron, Ohio - Goodyear's global headquarters - and donned with the name of the employee who helped produce it. The depth of the relationship has been built on competition, shared passion and brand growth for the two organizations. Goodyear's industry-leading brand has been amplified through the duration of the relationship generating awareness for the tiremaker with NASCAR's passionate fan base. For five consecutive years, Goodyear has been the most-recognized sponsor in NASCAR, according to the 2016 NASCAR sponsor loyalty survey conducted for SportsBusiness Journal/Daily by Turnkey Sports & Entertainment.

About NASCAR
The National Association for Stock Car Auto Racing, Inc. (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States. NASCAR consists of three national series (Monster Energy NASCAR Cup Series(TM), NASCAR XFINITY Series(TM), and NASCAR Camping World Truck Series(TM)), four regional series, one local grassroots series and three international series. The International Motor Sports Association(TM) (IMSA®) governs the IMSA WeatherTech SportsCar Championship(TM), the premier U.S. sports car series. Based in Daytona Beach, Fla., with offices in eight cities across North America, NASCAR sanctions more than 1,200 races in more than 30 U.S. states, Canada, Mexico and Europe. For more information visit www.NASCAR.com and www.IMSA.com, and follow NASCAR on Facebook, Twitter, Instagram, and Snapchat ('NASCAR').

About Goodyear
Goodyear is one of the world's largest tire companies. It employs about 65,000 people and manufactures its products in 48 facilities in 22 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.

View original content with multimedia:http://www.prnewswire.com/news-releases/goodyear-and-nascar-extend-historic-relationship-300559100.html

SOURCE The Goodyear Tire & Rubber Company

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Financials ($)
Sales 2017 15 222 M
EBIT 2017 1 384 M
Net income 2017 663 M
Debt 2017 4 671 M
Yield 2017 1,40%
P/E ratio 2017 11,52
P/E ratio 2018 7,88
EV / Sales 2017 0,79x
EV / Sales 2018 0,77x
Capitalization 7 375 M
Chart GOODYEAR TIRE & RUBBER CO
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Goodyear Tire & Rubber Co Technical Analysis Chart | GT | US3825501014 | 4-Traders
Technical analysis trends GOODYEAR TIRE & RUBBER CO
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 36,1 $
Spread / Average Target 21%
EPS Revisions
Managers
NameTitle
Richard J. Kramer Chairman, President & Chief Executive Officer
Laura K. Thompson Chief Financial Officer & Executive Vice President
Joseph Zekoski Chief Technical Officer & SVP-Global Operations
Christopher Helsel Chief Technology Officer & Vice President
Thomas H. Weidemeyer Independent Director
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