WASHINGTON (dpa-AFX) - Michelin (ML.PA) on Tuesday reported lower group revenue for the first nine months of 2026, although growth accelerated in the third quarter.
Group revenue amounted to EUR 19.2 billion for the first nine months, with revenue growth accelerating to 2.2 percent in the third quarter at constant exchange rates. Tire volumes declined 0.8 percent, primarily due to weaker Original Equipment sales, while the price-mix effect contributed a positive 1.1 percent.
Michelin reaffirmed its 2026 outlook, targeting growth in segment operating income at constant exchange rates and scope compared with 2025, along with free cash flow before M&A of more than EUR 1.6 billion.
ML.PA closed Tuesday's trading at EUR 33.24, up EUR 0.29 or 0.88 percent on the Paris Stock Exchange.
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