French tire maker Michelin beats revenue estimates

Investing.com -- French tire maker Michelin (EPA: MICP) reported a slightly better than expected full year revenue, that came in at €27.19 billion while analysts’ were expecting it to be €27.16 billion. The company also set a 2025 target of €1.7 billion in free cash flow before acquisitions.

Full-year net income came in at €1.89 billion, while total segment operating income reached €3.38 billion, narrowly beating forecasts of €3.34 billion.

The segment operating margin stood at 12.4%, just above the estimated 12.3%.

However, Michelin’s proposed dividend of €1.38 per share fell short of the expected €1.47. The company reaffirmed its goal to improve segment operating income at constant exchange rates in the coming year. Adjusted free cash flow for 2024 was reported at €2.23 billion.

You May Also Be Interested In

• Moderna jumps premarket after Phase 3 trial, Target slides
• Citi analyzes positioning in US chemicals stocks
• Analog Devices climbs as fiscal Q3 results, Q4 outlook beat forecasts