Pirelli confirms 2026 outlook despite Middle East crisis as operating profit rises 1%

Pirelli & C.

29/07/2026 17:32

MILAN, July 29 (Reuters) - Italian tyre maker Pirelli PIRC.MI said on Wednesday its operating income edged higher in the second quarter, as sales of higher-margin products more than offset the negative impact of foreign exchange rates and lower sales volumes.     
Adjusted earnings before interest and tax (EBIT) rose 1% year-on-year in April-June to €280 million ($319 million), broadly in line with a company-provided analyst consensus.
The adjusted EBIT margin was stable at 16% in the period.
Second-quarter revenue came in at €1.76 billion, only slightly higher than the same period of last year.
The company stood by its 2026 forecasts set earlier this year, targeting revenue of between €6.75-€6.95 billion, and an adjusted EBIT margin of around 16%.
The Middle East crisis continues to weigh on global economic growth, inflation and the cost of raw materials, Pirelli said.
It said it expected to gain market share this year in the segment of high value tyres, while continuing to reduce its exposure to standard products.  
($1 = 0.8787 euros)

 (Reporting by Giulio Piovaccari; Editing by Valentina Za)
 ((giulio.piovaccari@thomsonreuters.com))