Stellantis Reported Q1 2024 Net Revenues Of €41.7B Down From €47.2B YoY; Consolidated Shipments Of 1,335 Thousand Units Down 10% YoY
Portfolio Pulse from Benzinga Newsdesk
Stellantis reported a decrease in Q1 2024 net revenues to €41.7 billion, down 12% from Q1 2023, with consolidated shipments also falling by 10% to 1,335 thousand units. The decline was attributed to volume, mix, and foreign exchange headwinds, though partially offset by strong net pricing. Despite the downturn, sales of BEVs and LEVs rose by 8% and 13%, respectively. The company is preparing for a new product wave in H2 2024, with a total vehicle inventory of 1,393 thousand units as of March 31, 2024. Additionally, a dividend increase to €1.55 per share was approved, and a €3.0 billion share buyback program is on track for completion in 2024.
April 30, 2024 | 6:34 am
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Stellantis reported a 12% decrease in Q1 2024 net revenues and a 10% drop in shipments, but is preparing for new product launches in H2 2024. BEV and LEV sales are up, with a dividend increase and a €3.0 billion share buyback program underway.
The decrease in net revenues and shipments indicates short-term challenges, potentially pressuring the stock. However, the increase in BEV and LEV sales, along with shareholder returns through dividends and share buybacks, could offset negative impacts and stabilize the stock price in the short term.
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