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
STELLANTIS STLA | 13.40 | -4.22% |
Net revenues of €33.0 billion, down 27% compared to Q3 2023, primarily due to lower shipments and unfavorable mix as well as pricing and foreign exchange impacts.
Consolidated shipments(1) of 1,148 thousand units, were down 279 thousand, or 20% year-over-year. Q3 2024 included production gaps in several models as a global product transition begins, planned North American inventory reductions, and headwinds from a challenging European market environment
The Company reiterates its 2024 financial guidance, which was updated on September 30, 2024