Stellantis Revenues up 13% in Third Quarter, Confirms Second-Half Forecasts

Reuters

Oct 30

Automaker Stellantis said on Thursday its revenues rose 13% year-on-year in the third quarter to 37.2 billion euros ($43.4 billion), mostly driven by its main markets in North America and Europe.

The result was in line with a Reuters' poll of analysts.

The Franco-Italian-American group confirmed its forecasts for increased net revenue and cash flow generation in the second half, as well as for low-single digit adjusted operating income margin in the period.

It said the company expected to book charges in the second half from changes to its strategic and product plans as well as from a review of its warranty estimation process, but these were not expected to impact forecasts.

Guidance for the second half, however, assumed no disruptions or shortages in the current supply chain scenario, Stellantis said, while the global industry is grappling with a deepening semiconductor supply crunch related to Dutch firm Nexperia.

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