Analysts Forecast Good Q1 Results from Michelin
Industry analysts have forecasted first quarter sales figures for Michelin of around 3.85 billion euros ($4.75 billion) – a rise of 6.7 per cent. The figure is the average of estimates from 11 analysts, which ranged from 3.7 billion euros to 4.2 billion. Michelin’s actual first quarter financial results will be revealed after the close of the stock market today.
Michelin’s shares have gained 19 per cent this year, outperforming many market indices. However, the analysts note that shares in Continental AG have risen in price by almost 30 per cent over the same period.