Michelin (ML.PA) earnings: next date, last results and guidance
When is Michelin's next earnings date, and what were its last results?
Next earnings date
Feb 11, 2027Thursday
Expected, not yet confirmed by Michelin.
Last results
- Sales€12.7billion−3 %
Michelin's own figures for the half-year to June 2026. Growth is on a year earlier.
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Michelin guidance: what does it expect for the year to December 2026?
Management promises higher 2026 segment operating income at constant exchange rates and business scope, plus more than €1.6 billion of free cash flow before acquisitions. Its record is mixed: it kept 3 of 5 checked promises. Two years beat original segment-profit targets and two fell below.
Passenger car and Light truck tire market growth (%)
-2.0%–1.0%Year to Dec 2026 · given Jul 27, 2026
Truck tire market growth (%)
-1.0%–2.0%Year to Dec 2026 · given Jul 27, 2026
Specialty market growth (%)
0.0%–3.0%Year to Dec 2026 · given Jul 27, 2026
Guidance is management's forecast of what it expects to report, usually a range.
Did Michelin beat earnings? Its results against its own forecast
3/5Promises kept (our report)
The record is mixed. It earns a score of three out of five: half the four years checked beat original segment-profit targets, and half fell below. Michelin cut profit guidance in 2024 and 2025, and it also cut and missed its reduced structural cash-flow target for 2022.
Segment operating income
- 2 above
- 0 inside
- 2 below
Each dot is one of the last 4 years, from our report, against the range Michelin gave, not analysts' estimates.
What has Michelin’s revenue and profit trend been?
Michelin’s growth is price-led, not volume-led. Revenue rose strongly through 2022, then fell for three consecutive years to €25,992 million in 2025. In 2025, volume fell 4.7%. Price and mix added 3.0%, while currency removed 3.0%.
Michelin’s margins show a valuable business under pressure. In the 2025 accounts, gross margin fell from 28.5% to 27.0%. Reported operating income was €2.37 billion. Net income attributable to shareholders was €1.67 billion, leaving a 6.4% net margin.
What should I watch in Michelin’s next results?
On February 11, 2027, Michelin is scheduled to publish its 2026 results. Check whether segment operating income rose against the 2025 base at constant currencies and business scope, and whether free cash flow before acquisitions exceeded the promised floor. Then examine cash after acquisitions and buybacks, because meeting the headline target would not prove that every cash demand was covered.
Questions about Michelin (ML.PA) earnings
When does Michelin report earnings?
Next on Thursday, February 11, 2027. That date is expected; Michelin has not confirmed it yet.
Are Michelin's latest earnings out?
Yes. Michelin has reported the half-year to June 2026.
Did Michelin beat its own forecast?
Over the last 4 years, its segment operating income came in above its own range twice, inside it 0 times and below it twice (our report).
Is Michelin expected to beat earnings?
Our report makes no call on that. Management's guidance: Passenger car and Light truck tire market growth (%), Year to Dec 2026: -2.0%–1.0%. In the last 4 years, segment operating income came in above Michelin's own range twice.
Where could Michelin stock be by 2029?
Our report's forecast is €41.79 a share by November 2029, from the €33.56 close of November 9, 2026. Michelin stock forecast →
More on Michelin (ML.PA)
Michelin and its rivals
This page gives the results. The report gives the reasons.
The full report: an executive summary and 8 chapters, 21,593 words, 54 tables. Its first page opens here, no account needed.
How it is made: AI reads Michelin's filings, writes the report, checks the numbers against them and cites each source, 169 in this one. How we work · Corrections
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Information only, not investment advice. The next results date is an expectation until Michelin confirms it. Prices are those of the date shown.