Michelin : Q3 sales: a nice surprise on volumes that is welcome in view of currencies
>A nice surprise from volumes that more than offsets the negative surprise from FX - Michelin is set to report tyre market figures for September next week, and we expect them to confirm the favourable trends observed since the start of the summer. This leads us to expect Q3 and H2 2020 to in the end be stronger in terms of volumes, which should therefore be able to more than offset the more negative view on currencies. After revisions, our 2020 estimates therefor...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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