Michelin jumps after Q1 sales above expectations
ReutersApr 25, 2025 7:15 AM
Shares in France's Michelin MICP.PA rise as much as 4% after the tyre maker reported on Thursday a slightly smaller than expected drop in first-quarter sales
"Despite the volatile environment, Michelin reaffirmed its earnings outlook, highlighting its dominant market position, pricing leadership, strong North American business, and competitive production footprint," J.P. Morgan says
It adds that demand for its mining segment is the "bright spot" and contributes to confidence in the group's outlook, alongside its robust pipeline and benefits of cost restructuring
The stock is up 3.6% by 0712 GMT, on track to return to a positive YTD performance after paring most of the losses it made after U.S. President Trump's tariffs announcement on April 2
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