- Michelin’s 1Q revenue met the estimated EU6.64 billion.
- The automotive revenue stood at EU3.38 billion, seeing a decline of 2.3% year-on-year (y/y) from the estimated EU3.45 billion.
- Road Transportation revenue also saw a decrease of 6% y/y, landing at EU1.60 billion. This is slightly below the estimated EU1.62 billion.
- Specialty Business didn’t fare much better, bringing in EU1.67 billion, down by 7.6% y/y from the estimated EU1.72 billion.
- Despite the decline in certain areas, Michelin still expects its total segment operating income to be over EU3.5 billion, a bit short of the estimated EU3.62 billion.
- Furthermore, the company still aims for its adjusted free cash flow to be above EU1.5 billion, though the estimate stands at EU1.84 billion.
- For the first quarter, sales went down by 2.7%, calculated at constant exchange rates.
- However, sales volumes are still expected to conclude the year within the -2% to 0% range.
- Despite the declines, there is no change in the full-year guidance for 2024.
- As it stands, there are 9 buys, 6 holds, and 5 sell recommendations for Michelin’s stock.
A look at Cie Generale des Etablissement Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
**The long-term outlook for Cie Generale des Etablissement, as indicated by Smartkarma Smart Scores, appears to be promising. With a strong score in dividend, resilience, and momentum, the company seems well-positioned for future growth and stability. Although the value and growth scores are moderate, the higher rankings in dividend, resilience, and momentum suggest a relatively positive outlook for investors seeking a reliable and potentially rewarding investment option.
**
**Compagnie Generale des Etablissements Michelin, primarily known for manufacturing auto parts, offers a range of products with a global client base. With a balanced performance across various aspects, including dividends, resilience, and momentum, the company shows potential for long-term success and value creation within the industry. Investors looking for a company with a solid dividend yield, strong resilience, and positive momentum may find Cie Generale des Etablissement a compelling choice for their portfolio.**
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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