Stellantis Shares Surge Nearly 13% as North America Delivers Strong Performance and Sharp Swing to Profit

Stock News10-28

On Wednesday, Stellantis NV (STLA.US) gapped up more than 10% at the open, with gains widening to 13% as of the latest reading.

On the news front, Stellantis NV (STLA.US) released its third-quarter results: net revenue came in at 37.611 billion euros, up 1% year over year and above the market estimate of roughly 36.4 billion euros; net loss was 453 million euros, narrowing by 90% from a loss of 4.532 billion euros in the same period last year; adjusted operating profit was 256 million euros (285 million US dollars), slightly above the consensus estimate and up 184% year over year, with a margin of 0.7%. The company kept its full-year guidance unchanged and reiterated its target of turning industrial free cash flow positive by 2027.

By region, North America delivered strong performance, achieving a significant swing to positive adjusted operating profit; however, the enlarged European market recorded a recurring operating loss of 311 million euros, weighed down by the transition to hybrid and battery-electric models and related cost disruptions.

On the operational side, third-quarter consolidated shipments fell 1% to 1,286,000 units, while combined shipments declined 2% to 1,308,000 units.

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