Stellantis Reports Q3 Net Revenue €33B Dwon From €45.1B YoY; Combined Shipments Down 21% YoY. Reiterates 2024 Financial Guidance Of Operating Margin 5.5%-7.0% And Industrial Free Cash Flow Of €(5)B-€(10)B
Portfolio Pulse from Benzinga Newsdesk
Stellantis reported a significant drop in Q3 net revenue to €33 billion from €45.1 billion year-over-year, with shipments down 21%. The decline is attributed to lower shipments, unfavorable mix, pricing, and foreign exchange impacts. Despite these challenges, Stellantis maintains its 2024 financial guidance.
October 31, 2024 | 7:19 am
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Stellantis reported a 27% decrease in Q3 net revenue to €33 billion, with shipments down 21% year-over-year. The decline is due to lower shipments, unfavorable mix, pricing, and foreign exchange impacts. Despite these challenges, Stellantis maintains its 2024 financial guidance.
The significant drop in revenue and shipments is likely to negatively impact Stellantis' stock price in the short term. However, the reiteration of 2024 guidance may provide some support, but the immediate reaction is expected to be negative due to the poor quarterly performance.
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