Michelin Adjusts FY Guidance, Sees Sales Volumes Expected Within Range Of -6% And 4%; Group Total Sales For 9-Month €20.171 Billion, Down 4.6% YoY; Now Expects Segment Operating Income Around €3.4 Billion Vs More Than €3.5 Billion Before
Portfolio Pulse from Benzinga Newsdesk
Michelin has adjusted its full-year guidance, expecting sales volumes to range between -6% and 4%. The group's total sales for the first nine months were €20.171 billion, a 4.6% decrease year-over-year. Segment operating income is now expected to be around €3.4 billion, down from the previous estimate of more than €3.5 billion.
October 23, 2024 | 3:52 pm
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Michelin has revised its full-year guidance, with sales volumes expected between -6% and 4%. The company's 9-month sales are down 4.6% YoY, and operating income is now forecasted at €3.4 billion, down from €3.5 billion.
The downward revision in sales and operating income guidance suggests potential challenges in Michelin's market performance, likely leading to a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Michelin has revised its full-year guidance, with sales volumes expected between -6% and 4%. The company's 9-month sales are down 4.6% YoY, and operating income is now forecasted at €3.4 billion, down from €3.5 billion.
The downward revision in sales and operating income guidance suggests potential challenges in Michelin's market performance, likely leading to a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100