Stellantis Now Expects FY24 Operating Margin Of 5.5%-7.0%, Down From Its Prior Double-Digit Growth Expectations, And Industrial Free Cash Flow Of €(5)B-€(10)B Versus Prior Expectations Of Positive Cash Flow Due To Corrective Actions in North America And Global Industry Dynamics
Portfolio Pulse from Benzinga Newsdesk
Stellantis revised its 2024 financial guidance, expecting a lower operating margin of 5.5%-7.0% and negative industrial free cash flow due to corrective actions in North America and global industry challenges. The company aims to normalize U.S. inventory levels and improve productivity.
September 30, 2024 | 9:29 am
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Stellantis has revised its 2024 financial guidance, lowering its operating margin expectations to 5.5%-7.0% and projecting negative industrial free cash flow. This is due to corrective actions in North America and global industry challenges.
Stellantis' revised guidance indicates a significant downgrade in financial expectations, primarily due to North American performance issues and global industry dynamics. The expected negative cash flow and reduced operating margin are likely to negatively impact the stock price in the short term.
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