Stellantis CEO: Earnings 'Fell Short Of Expectations,' Expect 20 New Vehicles This Year
Portfolio Pulse from Anusuya Lahiri
Stellantis NV (NYSE:STLA) reported disappointing financial results for the first half of 2024, with significant declines in revenue, net profit, and adjusted EPS. The company plans to launch 20 new vehicles this year and may eliminate underperforming brands. Despite the poor results, Stellantis reiterated its financial guidance for 2024.
July 25, 2024 | 1:35 pm
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Stellantis NV reported disappointing financial results for the first half of 2024, with significant declines in revenue, net profit, and adjusted EPS. The company plans to launch 20 new vehicles this year and may eliminate underperforming brands. Despite the poor results, Stellantis reiterated its financial guidance for 2024.
The significant declines in revenue, net profit, and adjusted EPS are likely to negatively impact investor sentiment in the short term. The announcement of launching 20 new vehicles and potential brand eliminations may provide some long-term optimism, but the immediate reaction is negative as evidenced by the 8.37% drop in premarket trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100