Michelin Adjusts Full-Year Outlook

Michelin Group expects to achieve segment operating income between $3 billion and $3.48 billion for the full year.

The company originally expected full-year operating income to come in at more than $3.95 billion.

Michelin officials say its business in North America "deteriorated more sharply than expected" during the third quarter, with sales volume dropping nearly 10%, "with plummeting demand from OEMs in truck and agriculture," plus "weak sellout in truck replacement, reflecting a soft economy, and B2C sales headwinds. On the margin front, the Group has been impacted by tariffs."

They note that aside from North America, Michelin  posted year-over-year volume growth in the third quarter, "which demonstrates the ability to drive growth and value across the various market segments in a chaotic business context and despite near-term uncertainties."

Michelin plans to disclose its third quarter 2025 results later this month.