Stellantis, the multinational automaker based in the Netherlands, is scheduled to announce its revenue and shipment results for the third quarter. Here are the key details you should know about:
According to a FactSet poll of five analysts, Stellantis is expected to report revenue of 42.45 billion euros ($44.85 billion) for the third quarter. This is compared to EUR42.10 billion in the same quarter last year.
What to Watch
One point of interest is the impact of the strike in the United States, which Stellantis executives are expected to address. The strike has been put on hold as the United Auto Workers union considers an offer that includes a 25% pay raise over four-and-a-half years. Bernstein analysts estimate that the strike has cost around $1 billion to $1.5 billion.
Stellantis reduced production of Fiat battery-electric vehicles and Maseratis in Italy during the third quarter. This could potentially impact shipments and revenue. Additionally, analysts believe that the company’s decision to further cut production this quarter aligns with an industry-wide trend of weakening demand.
Stellantis enjoyed a strong third quarter last year, with a 29% increase in revenue and a 13% rise in shipments. It will be interesting to see how this year’s results compare to those impressive numbers.
Remember to stay updated on Stellantis’ third-quarter results to gain valuable insights into their performance.