Michelin reports Q3 growth and confirms 2026 targets

Michelin reported an acceleration in growth during the third quarter of 2026. While revenue for the first nine months of the year reached 19.2 billion euros—a slight 0.5 percent decrease compared to the previous year—the company maintained its full-year guidance. The third quarter specifically saw revenue of 6.49 billion euros, representing a 2.2 percent increase at constant exchange rates.

Despite a 0.8 percent decline in overall tire volumes, primarily due to lower sales to vehicle manufacturers, the replacement market showed resilience with a 4 percent increase in Michelin brand volumes. A favorable sales mix, particularly in larger tire dimensions, and price increases implemented to offset rising raw material costs contributed to the positive revenue trend.

Financial leadership indicated that the company intends to accelerate investments in brand development, digital initiatives, innovation, and competitiveness, noting an uncertain geopolitical and economic outlook for 2027.