Stellantis Swings to Profit but Shares Drop 5% on Earnings Miss
Stellantis swung to a second-quarter net profit of €293 million, reversing a €1.87 billion loss a year earlier, driven by a 32% jump in North American revenue as new Jeep and Ram models supported sales.
The results fell short of profit forecasts and lowered operating income, prompting shares to drop 5%. Revenue rose 13% to €43.48 billion, surpassing expectations, but the company posted a 1.8% adjusted operating margin with Europe recording a negative 0.6% margin.
From the sources (4 posts)
@cnbcJeep maker Stellantis swings to profit on rising demand in North America; shares fall 5%
@wallstengine$STLA SLIDES AFTER PROFIT MISS Stellantis Q2 net profit of €293M missed the €464M estimate, while adjusted operating income of €773M fell short of the €903M expected. Revenue rose 13% to €43.48B, above the €42.83B estimate. Deliveries inc
@businessStellantis swung to a profit in the second quarter on rising demand in North America for models such as the Ram 1500 pickup truck with a more powerful engine
@cnbcAuto giant Stellantis on Thursday swung to profit in the second quarter, boosted by rising demand in North America as the company showed tentative signs of benefitting from CEO Antonio Filosa’s turnaround plan. The multinational conglomera