News Details
Pirelli's pricing power helps offset economic challenges
Strong pricing power and cost savings will help Pirelli offset economic challenges, the Italian tyremaker said on Thursday as it beat second-quarter operating profit expectations and raised its full-year revenue forecast. The sole supplier of Formula 1 tyres, said its adjusted earnings before interest and tax (EBIT) rose 21% in the April-June period to 253 million euros ($258 million), topping a company-provided analyst consensus of 238 million euros. Higher commodity costs of 116 million euros weighed on the result along with 88 million euros in increased production costs, the company said. Chief Executive Marco Tronchetti Provera told analysts that Pirelli's business model, which focuses...
Full Story »
Full Story »
1y ago from GrandPrix247.com
0
You May Also Be Interested In...
Sebastian Vettel racing in DTM ‘would be a...
Sebastian Vettel's retirement from Formula 1 has caused...
1y ago from Formula1News.co.uk
Hungarian Grand Prix: Top Three Press Conference
Transcript from the post-race interviews and FIA hosted top three press...
1y ago from GrandPrix247.com
George Russell warns Mercedes against ‘changing...
The Mercedes F1 Team made yet another step in the right direction at the...
1y ago from Formula1News.co.uk
TeamTalk: A look back on 2022 Hungarian Grand Prix
The 2022 Hungarian Grand Prix could've been a boring race on a track that...
1y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Yamaha to test completely new MotoGP bike at Jerez
No description available...
4h ago from Motorsport.com
Raul Fernandez set to get 2024 Aprilia MotoGP bike at...
No description available...
8h ago from Motorsport.com
Quartararo: Marquez's Honda exit ‘woke a lot of...
Fabio Quartararo believes Marc Marquez's exit from Honda last term 'woke a...
1d ago from MotorsportWeek.c...
Could Acosta get a Verstappen-like mid-season...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
O’Ward retroactively given St. Pete win after Team...
The NTT IndyCar Series announced on Wednesday that all three Team Penske...
6h ago from MotorsportWeek.c...
Penske's Newgarden loses St. Pete IndyCar race win...
No description available...
6h ago from Motorsport.com
Power “didn't have any defense” against Dixon due...
No description available...
23h ago from Motorsport.com
Brake issues hinder Rosenqvist’s chances for victory...
No description available...
23h ago from Motorsport.com
Popular On TotalWRC.com
Ford simulator boosting M-Sport WRC Puma performances
No description available...
9h ago from Motorsport.com
Auction raises more than 50K for Craig Breen Foundation
No description available...
7h ago from Motorsport.com
FIA not at war with manufacturers over 2025 WRC...
No description available...
2d ago from Motorsport.com
ERC star Sesks secures WRC Rally1 graduation with...
No description available...
2d ago from Motorsport.com
Popular On GunnersToday.com
'Watched 5 minutes of yesterday's Arsenal game and...
No description available...
59m ago from SportsKeeda.com
Chelsea could face backlash from squad if they sack...
No description available...
1h ago from SportsKeeda.com
'No one knows what's going on in his life' –...
Ben White's agent has hit back at critics of the Arsenal star claiming 'no...
2h ago from CaughtOffside.com
Arsenal slap £25m price tag on 30-year-old star as...
No description available...
3h ago from SportsKeeda.com
Comments
Hottest News
F1 giants announce name change with IMMEDIATE effect
Ferrari have announced that they are to join... Read More »
1h ago from GPFans.com
IndyCar: McLaren’s O’Ward handed St. Pete win after...
Arrow McLaren SP driver Pato O’Ward has been... Read More »
4h ago from F1i.com
Schumacher reveals what F1 pundits are NOT allowed to say...
F1 veteran Ralf Schumacher has offered a blunt... Read More »
12h ago from GPFans.com