Michelin : A truly pleasant surprise
>Better Q3 revenues (volumes and price mix), 2020 guidance raised - Michelin’s Q3 sales came out slightly better than expected (€ 5,531m vs consensus € 5,466m and ODDO BHF € 5,516m) thanks to stronger volumes and a more solid price mix than expected, even though the FX impact was highly unfavourable and will drag on the whole of H2 2020. Above all, with the tyres market (excluding specialty tyres) recovering more robustly, management is raising its FY-2020 guidance po...Compagnie Generale des Etablissements Michelin is active in the tire and mobility-related service markets. Co. manufactures, distributes and sells tires for all kinds of vehicles, publishes maps and guides and operates a number of services. Co.'s operates in three segments: Passenger car/Light truck tires and related distribution; Truck tires and related distribution and Specialty businesses segment including tires for specialty vehicles and maps and guides. Co. distributes its products through two tire distribution networks: Euromaster (Europe) and TCI (U.S.A.) and its brands include Michelin, BFGoodrich, Kleber, Uniroyal, Warrior, Kormoran, Riken, Taurus and Tigar.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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