Jeep, Ram parent Stellantis slides 10% as concern grows over 'bloated' inventory [Yahoo! Finance Canada]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Yahoo! Finance Canada
Stellantis ( STLA ) stock slid on Tuesday as the company reported first quarter sales and shipments that fell compared to a year ago, just as a slew of new vehicles is poised to hit showroom floors later this year. The Big Three automaker — which has a more European-focused product portfolio compared to rivals like GM and Ford — reported revenue of $44.54 billion, down 12% compared to a year ago. On the conference call, CFO Natalie Knight said this was “due to transitions in product offering, inventory management, regional mix, and F/X impact.” Shipments also fell 10%, to 1.335 million globally, as the Ram, Jeep, and Fiat-parent said low inventories and supply kept deliveries down, but the company did say new products that will replace discontinued models leading to a boost Q2 shipments and inventories. Stellantis does not provide financial results for Q1 and Q3, only giving investors first-half and full-year results. Though the automaker confirmed its full-year 2024 guidance o
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STLA
Sec Filings
- 5/21/24 - Form 6-K
- 5/17/24 - Form 8-K
- 5/15/24 - Form 6-K
- STLA's page on the SEC website