Michelin keeps its 2019 guidance but calls for caution [Reuters]
MICHELIN CIE GEN UNSP/ADR (MGDDY)
NASDAQ:AMEX Investor Relations:
michelin.com/eng/finance/regulated-information/compagnie-generale-des-etablissements-michelin-amf
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Source: Reuters
Michelin keeps its 2019 guidance but calls for caution - Reuters 2 Min Read PARIS (Reuters) - French tyre maker Michelin ( MICP.PA ) on Thursday maintained its full-year profit guidance but cut its forecast again for the global tyre market, pointing to a sharper-than-expected downturn in the truck segment. The group, which said two weeks ago it would close a French plant in response to deteriorating conditions in the auto industry, posted a 8.9% increase in third-quarter revenue to 6.115 billion euros ($6.78 billion). Michelin said in a statement that the truck tyre market is now expected to end the year down 4%, versus a previous forecast of a 2% decline. The group confirmed it expects 2019 operating income exceeding the 2018 figure at constant excha
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