Michelin reported first-half revenue of €12.69 billion, slightly below analyst expectations of €12.74 billion. Revenue declined 2.6% on a reported basis due to currency headwinds but rose 0.5% at constant exchange rates. Net income came in at €766 million, missing forecasts of €977 million.
Despite the earnings miss, segment operating income increased to €1.45 billion, representing an 11.4% margin versus 11.1% a year earlier. The improvement was driven by favorable pricing, a stronger product mix, and lower raw-material costs, partially offset by higher manufacturing, logistics, inflation, and tariff-related expenses. Free cash flow before M&A improved significantly to €282 million, compared with negative €102 million in the prior-year period.
CEO Florent Menegaux highlighted stronger sales momentum and continued gains in competitiveness, innovation, and brand strength.
$MGDDF
$LUNR Way undervalued. Corporate moon. We’re not even seeing sponsorship money yet. Wait until each lander is covered like a nascar in sponsors.
$GM $GT $MGDDF $SPCE
