Stellantis Shares Slump on Warning of Margin Pressure in Europe [BNN Bloomberg (Canada)]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: BNN Bloomberg
Adjusted operating income margin will likely be 10% to 11% in the first half, Chief Financial Officer Natalie Knight said Tuesday on a call with analysts. That's below consensus estimates, Citigroup Inc. analyst Harald Hendrikse wrote in a note. “It's fair to say that the European marketplace is one of the tougher ones out there and I think winning is about having that right mix of profitability and market share,” Knight said. The shares slipped as much as 8.3% in Milan trading, extending earlier declines and making Stellantis the third-biggest loser in Europe's Stoxx 600 Index in afternoon trading. Stellantis Chief Executive Officer Carlos Tavares already cautioned about a turbulent year ahead with higher labor costs and the end of EV subsisides in many countries. Earlier Tuesday, Volkswagen AG and Mercedes-Benz AG both reported sharply lower earnings on weaker demand and costs related to the introduction of new models. Tavares is cutting costs to make Stellantis leaner with
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