Italy’s Pirelli Confirms Guidance after Q1 Operating Profit Tops Estimates

May 9 (Reuters) – Italian tyre-maker Pirelli said on Thursday its adjusted operating profit rose 5.8% in the first quarter of the year, as the group benefited from efficiencies.

The company, the sole supplier of tyres for Formula One cars, said adjusted earnings before interest and tax (EBIT) came in at 262.2 million euros ($282.36 million) in the January-March period, topping a 257 million euro analyst consensus provided by the company. …