The Goodyear Tire & Rubber Company (NASDAQ:GT) Q3 2023 Earnings Call Transcript

James Picariello: Okay. So excluding the fire impact, the other line should be something close to neutral is what you’re saying? A – Christina Zamarro Yes.

James Picariello: Okay. Understood. And then as we think about restructuring spend and free cash flow for next year and just focusing on the series of actions that you guys have announced throughout this year with detail on what the intended cash spend is for those actions. Can you speak to what cash restructuring could look like for next year relative to the $100 million that you’re guiding for this year?

Christina Zamarro: Yes. So we’ve announced programs in flat program so far this year, totaling $100 million in savings for 2024. And Rich mentioned earlier, a couple of programs in EMEA, that was a larger SAG restructuring program, also a reduction in our production at a pulafactory. And then there’s also been an announcement related to a change in our go-to-market model in Asia Pacific and Australia, in particular. So with those in-flight programs and what’s been announced to date, restructuring cash next year would be around $300 million in 2024. Those programs also have a stub into 2025 of about $60 million.

James Picariello: Okay. Thank you very much.

Operator: Thank you. And this does conclude our Q&A session as well as our conference call. Thank you all for your participation, and you may disconnect at any time. +