Exhibit 99.1

Goodyear Reports Solid Third Quarter Results

AKRON, Ohio, October 26, 2012 – The Goodyear Tire & Rubber Company today reported results for the third quarter of 2012.

“We achieved solid segment operating income in the third quarter, driven by our performance in North America,” said Richard J. Kramer, chairman and chief executive officer. “While we were impacted by the macroeconomic challenges we face in Europe, we continue to see the benefits of our actions to sustain profit margins in a weak volume environment,” he added.

Kramer said that with the company’s third quarter performance, it has essentially achieved its target of $1 billion in cost savings ahead of plan. Goodyear will take additional cost reduction actions because of ongoing economic uncertainty and expects to exceed its three-year cost savings goal.

“The structural improvements we made in our North American business are producing results that now put it on track to not only meet, but exceed, its 2013 operating income target a year early,” Kramer said.

“Our 2012 results demonstrate strong progress toward delivering profit throughout the economic cycle and generating sustainable value for shareholders,” he said.

“We continue to target $1.6 billion of segment operating income and positive cash flow in 2013,” he added.

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Goodyear’s third quarter 2012 sales were $5.3 billion, down 13 percent from last year’s record-setting total, reflecting $592 million in lower tire unit volumes and $258 million in unfavorable foreign currency translation, as well as lower sales in other tire related businesses, most notably third party chemical sales in North America. Tire unit volumes totaled 41.8 million, down 12 percent from 2011, primarily reflecting weaker volumes in Europe.

Sales benefitted from price/mix improvements, which drove revenue per tire up 5 percent over the 2011 quarter, excluding the impact of foreign currency translation.

The company reported segment operating income of $348 million in the third quarter of 2012. This was down $115 million from the year-ago quarter, reflecting $114 million in lower tire volume and associated unabsorbed overhead costs of $89 million, offset partially by improved price/mix of $159 million, which more than offset $47 million in raw material cost increases (before the benefit of cost savings actions).

Goodyear’s third quarter 2012 net income available to common shareholders was $110 million (41 cents per share), down from $161 million (60 cents per share) in the 2011 quarter. All per share amounts are diluted.

The 2012 third quarter included total charges of $32 million (12 cents per share) due to rationalizations, asset write-offs and accelerated depreciation; $6 million (2 cents per share) due to pension settlements in the United Kingdom; and $3 million (1 cent per share) due to discrete tax charges; and gains of $5 million (2 cents per share) from asset sales; and $4 million (1 cent per share) in insurance recoveries related to flooding in Thailand. All amounts are after taxes and minority interest.

See the table at the end of this release for a list of significant items impacting the 2012 and 2011 quarters.

The company’s free cash flow from operations totaled a positive $105 million for the third quarter of 2012. See the note at the end of this release for further explanation and a free cash flow from operations reconciliation table.

Business Segment Results

See the note at the end of this release for further explanation and a segment operating income reconciliation table.

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North American Tire

North American Tire’s third quarter sales decreased 6 percent from last year to $2.4 billion. Sales reflect a 6 percent decrease in tire unit volume as well as lower pricing for chemical products. Improved price/mix was a partial offset. Replacement tire shipments were down 10 percent. Original equipment unit volume increased 8 percent. Third quarter revenue per tire increased 4 percent in 2012 compared to 2011, excluding the impact of foreign currency translation.

Third quarter segment operating income of $130 million was up 67 percent from the prior year. Segment operating income was positively impacted by improved price/mix of $87 million and $21 million of lower raw material costs. Segment operating income also benefited from approximately $20 million in savings related to the closure of a tire plant in Tennessee, while lower volume and lower chemical products income were offsets.

Europe, Middle East and Africa Tire

Europe, Middle East and Africa Tire’s third quarter sales decreased 21 percent from last year to $1.7 billion. Sales reflect a 22 percent decrease in tire unit volume and unfavorable foreign currency translation of $171 million. Improved price/mix was a partial offset. Replacement tire shipments were down 24 percent, largely due to economic weakness across the region, reduced winter tire demand resulting from warm weather conditions and aggressive competitor actions. Original equipment unit volume was down 12 percent. Third quarter revenue per tire increased 9 percent in 2012 compared to 2011, excluding the impact of foreign currency translation.

Third quarter segment operating income of $105 million was down $155 million from a year ago. Segment operating income was negatively impacted by $92 million due to lower unit volume, $78 million in higher manufacturing costs primarily resulting from production cuts and $8 million in unfavorable foreign currency translation. Improved price/mix of $31 million more than offset $7 million of higher raw material costs.

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Latin American Tire

Latin American Tire’s third quarter sales decreased 20 percent from last year to $520 million. Sales reflect a 7 percent decrease in tire unit volume and unfavorable foreign currency translation of $60 million. Improved price/mix was a partial offset. Replacement tire shipments were down 12 percent. Original equipment unit volume was flat.

Third quarter segment operating income of $49 million was down $13 million from a year ago. Price/mix improvements of $39 million were more than offset by lower tire volumes, higher raw material costs, unfavorable foreign currency translation and the impact of inflation on wages and other costs.

Asia Pacific Tire

Asia Pacific Tire’s third quarter sales decreased 6 percent from last year to $592 million. Sales were negatively impacted by $20 million due to unfavorable foreign currency translation and 2 percent lower tire unit volume. Replacement tire shipments were down 4 percent. Original equipment unit volume was flat. Third quarter revenue per tire was flat in 2012 compared to 2011, excluding the impact of foreign currency translation.

Third quarter segment operating income of $64 million was 2 percent higher than last year. Segment operating income reflects improved price/mix of $2 million and $12 million of lower raw material costs. Segment operating income was negatively impacted by an incremental $3 million in costs related to the start up of a new factory in China as well as the impact of inflation on wages and other costs and unfavorable foreign currency translation.

During the quarter, the company ceased operations at its plant in Dalian, China, which was replaced by the new, larger facility in nearby Pulandian.

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Year-to-Date Results

Goodyear’s sales for the first nine months of 2012 were $16 billion, down 7 percent from $17 billion a year ago. Sales reflect strong price/mix performance, which drove revenue per tire up 10 percent year-over-year, excluding the impact of foreign currency translation. Unfavorable unit volume and foreign currency translation reduced sales by $1.3 billion and $681 million, respectively.

The company’s year-to-date segment operating income of $976 million was down $196 million from last year. Compared to the prior year, the decline in year-to-date segment operating income primarily reflects lower tire volumes and higher manufacturing costs primarily resulting from lower production.

Compared to the first nine months of 2011, the 2012 period also benefitted from $997 million in improved price/mix, which more than offset $578 million in higher raw material costs. Raw material costs reflect $189 million in actions taken to reduce their impact.

Goodyear’s year-to-date net income available to common shareholders of $183 million (73 cents per share) compares to $303 million ($1.19 per share) in 2011’s first nine months. All per share amounts are diluted.

Outlook

Goodyear expects that its fourth quarter 2012 tire unit volume will be 3 percent to 5 percent below the 2011 period.

For the full year of 2012 in North America, Goodyear expects the consumer replacement market to be down between 2 percent and 3 percent, consumer original equipment up between 8 percent and 10 percent, commercial replacement to be down between 6 percent and 8 percent and commercial original equipment up between 6 percent and 8 percent.

For the full year in Europe, Middle East & Africa, the consumer replacement industry is expected to be down between 8 percent and 10 percent, consumer original equipment down between 6 percent and 8 percent, commercial replacement down between 6 percent and 8 percent and commercial original equipment down between 5 percent and 7 percent.

Goodyear anticipates its raw material costs for the fourth quarter of 2012 will be down about 10 percent from the prior year. For the full year of 2012, Goodyear continues to expect its raw material costs will increase approximately 7 percent compared with 2011.

Conference Call

Goodyear will hold an investor conference call at 8:30 a.m. today. Approximately 45 minutes prior to the call, the company will post the financial and other related information that will be presented on its investor relations Web site: http://investor.goodyear.com.

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Participating in the conference call will be Richard J. Kramer, chairman and chief executive officer, and Darren R. Wells, executive vice president and chief financial officer.

Investors, members of the media and other interested persons can access the conference call on the Web site or via telephone by calling either (706) 645-4847 or (706) 758-3307 before 8:25 a.m. A taped replay will be available by calling (404) 537-3406, Conference ID 40209438. The replay will also remain available on the Web site.

Goodyear is one of the world’s largest tire companies. It employs about 71,000 people and manufactures its products in 53 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.

Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to realize anticipated savings and operational benefits from our cost reduction initiatives or to implement successfully other strategic initiatives; increases in the prices paid for raw materials and energy; pension plan funding obligations; actions and initiatives taken by both current and potential competitors; deteriorating economic conditions or an inability to access capital markets; work stoppages, financial difficulties or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; a labor strike, work stoppage or other similar event; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.

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The Goodyear Tire & Rubber Company and Subsidiaries

Consolidated Income Statements (unaudited)

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The Goodyear Tire & Rubber Company and Subsidiaries

Consolidated Balance Sheets (unaudited)

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The Goodyear Tire & Rubber Company and Subsidiaries

Consolidated Statements of Cash Flows (unaudited)

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Non-GAAP Financial Measures

This earnings release presents total segment operating income and free cash flow from operations, which are important financial measures for the company but are not financial measures defined by U.S. GAAP.

Total segment operating income is the sum of the individual strategic business units’ segment operating income as determined in accordance with U.S. GAAP. Management believes that total segment operating income is useful because it represents the aggregate value of income created by the company’s SBUs and excludes items not directly related to the SBUs for performance evaluation purposes.

Free cash flow from operations is the company’s cash flow from operations as determined in accordance with U.S. GAAP before pension contributions and direct payments and rationalization payments, less capital expenditures. Management believes that free cash flow from operations is useful because it represents the cash generating capability of the company’s ongoing operations, after taking into consideration expenditures necessary to maintain its business and pursue growth opportunities.

See the tables below for reconciliations of total segment operating income and free cash flow from operations.

Total Segment Operating Income Reconciliation Table

Free Cash Flow from Operations Reconciliation Table

Amounts are calculated from the consolidated Statements of Cash Flows except for pension expense, which is the net periodic pension cost as reported in the Notes to Consolidated Financial Statements.

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Third Quarter Significant Items (after tax and minority interest)

2012

2011

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