Stellantis Weathered UAW Strikes Better Than GM And Ford, With Less Financial Toll: CFO
Portfolio Pulse from Benzinga Neuro
Stellantis (NYSE:STLA) has reportedly weathered the recent United Auto Workers (UAW) strikes better than General Motors (NYSE:GM) and Ford (NYSE:F), with a less significant financial impact. The strikes cost Stellantis less than 750 million euros in total profitability, with a total revenue impact of roughly 3 billion euros. In contrast, GM and Ford announced that the strikes had cost them around $800 million and $1.3 billion, respectively. Despite the financial impact, Stellantis is not planning to adjust its cash or profitability forecasts.
November 01, 2023 | 9:14 am
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NEGATIVE IMPACT
Ford has been more significantly impacted by the UAW strikes than Stellantis, with the strikes costing the company around $1.3 billion. The company has revealed plans to cut back on EV spending.
The news that Ford has been more significantly impacted by the UAW strikes than Stellantis and is planning to cut back on EV spending is likely to be seen negatively by investors, potentially leading to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
General Motors has been more significantly impacted by the UAW strikes than Stellantis, with the strikes costing the company around $800 million. The company has revealed plans to cut back on EV spending.
The news that General Motors has been more significantly impacted by the UAW strikes than Stellantis and is planning to cut back on EV spending is likely to be seen negatively by investors, potentially leading to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Stellantis has weathered the UAW strikes better than its counterparts, with a less significant financial impact. The company is not planning to adjust its cash or profitability forecasts.
The news that Stellantis has weathered the UAW strikes better than its counterparts and is not planning to adjust its cash or profitability forecasts is likely to be seen positively by investors, potentially leading to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100