Michelin’s US Slump to Persist as Tiremaker Drops 2026 Goal (2)

Michelin sees its North American struggles lasting into next year, as the tiremaker warned it won’t hit its profit target for 2026.

While operating profit next year will exceed 2025’s result, Michelin won’t meet its previous goal of more than €4.2 billion ($4.9 billion), the French company said Wednesday. It also dropped an earlier 2026 margin target of 14%, pledging to give more details on its ambitions in February.

Michelin shares dipped as much as 1.1% in early Thursday trading in Paris. The stock is down 14% this year.

It’s a fresh blow for Michelin, which last week lowered its ...