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Compagnie Générale des Établissements Michelin (GB:0OFM)
LSE:0OFM
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Earnings Data
Report Date
Feb 12, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
€1.31Last Year’s EPS
€1.07Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: -8.03%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong operating income, cash flow, and improvements in safety and environmental metrics. However, challenges were noted with sales declines due to currency effects, market distortions from budget tire inflows, and a negative impact from price indexation clauses. Despite these challenges, the company maintained its guidance and showed resilience in its operational performance.Company Guidance
In the second quarter 2024 earnings call for Michelin (ML.PA), management provided guidance highlighting a strong operational performance despite a challenging market environment. The company reported a segment operating income of 13.2% of sales for the first half, up from 12.1% in the same period last year, and a robust cash flow generation of EUR 669 million before acquisitions. Sales reached EUR 13.5 billion, a decline of 3.1% excluding currency effects, with a mix improvement of 1.9% offsetting negative pricing due to indexation clauses. The guidance for 2024 remains unchanged, with expectations for segment operating income to exceed EUR 3.5 billion at constant exchange rates and free cash flow to surpass EUR 1.5 billion before acquisitions. Michelin also emphasized continued progress in strategic areas, such as increasing the number of women in managerial positions to 30.6% and reducing CO2 emissions by 7.2% compared to the first half of 2023.Strong Operating Income and Cash Flow
Segment operating income reached 13.2% of sales in H1, an increase from 12.1% in H1 2023. Strong cash flow generation before acquisition of EUR 669 million was achieved.
Improved Safety and Gender Diversity
The group's safety performance improved with a total case incident rate at 1, and the percentage of women in managerial positions increased to 30.6%.
CO2 Emissions and Water Withdrawal Reduction
Reduction of CO2 emissions by 7.2% and water withdrawal by 6.3% compared to the first semester of 2023.
Margin Recovery in Road Transportation
The segment showed strong margin recovery from 5% to 9.2%, benefiting from a targeted market approach and growing contribution from Connected Solutions.
Strong Mix Improvement
A strong 1.9% mix improvement offset the negative price effect from indexation clauses.
Positive Debt Ratings
Moody's upgraded Michelin's long-term debt from A3 to A2, and Scope rated it as A.
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Compagnie Générale des Établissements Michelin (GB:0OFM) Earnings, Revenues Date & History
GB:0OFM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GB:0OFM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | €33.74 | €33.55 | -0.58% |
| Jul 24, 2024 | €34.47 | €34.42 | -0.16% |
| Apr 24, 2024 | €34.72 | €34.71 | -0.04% |
| Feb 12, 2024 | €29.87 | €29.71 | -0.53% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Compagnie Générale des Établissements Michelin (GB:0OFM) report earnings?
Compagnie Générale des Établissements Michelin (GB:0OFM) is schdueled to report earning on Feb 12, 2025, After Close Not Confirmed.
What is Compagnie Générale des Établissements Michelin (GB:0OFM) earnings time?
Compagnie Générale des Établissements Michelin (GB:0OFM) earnings time is at Feb 12, 2025, After Close Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Compagnie Générale des Établissements Michelin stock?
The P/E ratio of Compagnie Générale des Établissements Michelin is 11.7.
What is GB:0OFM EPS forecast?
GB:0OFM EPS forecast for the fiscal quarter 2024 (Q4) is €1.31.
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