Stellantis Posts Q2 Profit Amid Rising North American Demand, Shares Drop 5%
Stellantis reported a second-quarter net profit of €293 million ($335.3 million), reversing from a loss of €1.87 billion in the same period last year. The auto manufacturer attributed its improved performance to rising demand in North America and early signs of success under CEO Antonio Filosa's turnaround strategy. Despite an increase, adjusted operating income came in at €773 million for Q2—up from €213 million a year ago—but fell short of the Reuters analyst consensus estimate of €914 million. The company owns well-known brands such as Jeep, Dodge, Fiat, Chrysler, and Peugeot. Stellantis shares dropped sharply following the earnings report, falling over 8% initially before settling at around a 5% decline.
Tickers: $STLA
Topics: Automotive CEO Strategy Profitability