Michelin : Some good…some not so good
>Very solid Q3. EBIT guidance confirmed, but not FCF guidance - Michelin has reported 24% growth in Q3 sales to € 7.44bn, 4% above expectations (€ 7.16bn). Sales were as expected dented by lower volumes (-2.6% vs cons. -1.6%), although this was more than offset by an extremely solid price/mix (+14.9% vs +12.4%) and FX (+8.9% vs +7.0%). Regarding the outlook, the group reiterated full-year Adj. EBIT guidance but cut FCF guidance to ~€ 700m vs >€ 1.2bn, mainly because o...
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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