Stellantis Delivered Record Financials Despite Getting Bitten By The UAW Strike
Portfolio Pulse from Upwallstreet
Stellantis N.V. (NYSE:STLA) reported strong earnings for 2023 despite a profit drop in the second half due to a UAW strike. It was the third consecutive year of record results since its formation in 2021, though U.S. sales declined, falling behind Hyundai Motor Company (OTC:HYMTF). Hyundai outperformed Stellantis in U.S. sales, becoming the fourth best-selling automaker. Ford Motor (NYSE:F) and General Motors (NYSE:GM) also reported strong financial results, with Ford reversing a 2022 loss into a 2023 profit and GM posting increased revenue and net income. Stellantis plans to launch 18 new EVs in 2024, aiming for another solid performance year.
February 16, 2024 | 1:36 pm
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POSITIVE IMPACT
Ford Motor reversed a 2022 loss into a 2023 profit, with revenue growth and a positive outlook for 2024.
Ford's financial turnaround and positive future outlook, especially with plans for hybrids, suggest a favorable short-term impact on its stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
General Motors reported increased revenue and net income for 2023, with a strong profit forecast for 2024.
GM's strong financial performance and optimistic profit forecast for 2024 indicate a positive short-term trajectory for its stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Hyundai Motor Company outperformed Stellantis in U.S. sales, becoming the fourth best-selling automaker in the U.S.
Hyundai's surpassing of Stellantis in U.S. sales and its position as the fourth best-selling automaker indicate a strong market presence and potential positive impact on its stock.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
POSITIVE IMPACT
Stellantis reported strong 2023 earnings despite a UAW strike, with a slight profit drop but plans for 18 new EVs in 2024.
Stellantis' resilience and strategic plans for EVs, despite a temporary setback from the UAW strike, indicate a positive outlook for its stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100