Jeep maker Stellantis swings to profit on rising demand in North America; shares fall 5%
📰 source: cnbc_topnews · 💼 business
stellantis swung to a second-quarter profit of 293 million euros, compared to a loss a year earlier, boosted by north american demand. adjusted operating income tripled to 773 million euros but missed analyst expectations of 914 million euros. shares fell 5% on the miss.
the company's free cash flow hit 1 billion euros, beating citi's forecast of 600 million euros. ceo filosaaid the second quarter showed progress led by north america. citi analysts noted the adjusted operating margin remains very low at 1.8%.
why it matters: despite swinging to profit, stellantis shares fell as adjusted earnings missed estimates and margin remains low, signaling market skepticism.
source: cnbc_topnews
sentiment: -0.20 · impact: 0.60