Michelin : Q3 backs Michelin’s robust profile in current inflationary context
>Q3 better than expected, targets confirmed despite the pressures - Yesterday evening Michelin reported Q3 sales that were ~4% higher than expected at € 6.0bn (vs consensus € 5.8bn and ODDO BHF € 5.9bn) and of very good quality. Unsurprisingly, the quarter was marked by modest growth in volumes (+1.3% vs consensus +1.8%) in a challenging context for OEMs and logistics, but it was also marked by very solid momentum that was much better than expected in the price/mix (+...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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