Stellantis Reports 4 Billion Euro Cash Shortfall Amid Ongoing Turnaround Strategy
Stellantis reported a third-quarter cash shortfall of 4 billion euros ($4.5 billion) as the company continues to execute its $70 billion turnaround plan aimed at restoring long-term profitability. Despite the significant cash drain, the automotive group saw revenue increase by 1% to 37.6 billion euros and adjusted operating income surge 184% to 256 million euros compared to the previous year. The company is currently navigating a period of restructuring following several years of declining sales, particularly in North America. While industrial free cash flow remains negative, management noted an improvement from the prior year's levels and reaffirmed their target to achieve positive industrial free cash flow by 2027.
Tickers: $STLA
Topics: Automotive Industry Cash Flow Quarterly Earnings Turnaround Strategy
Part of the story Stellantis Reports 4 Billion Euro Cash Shortfall Amid Ongoing Turnaround Strategy (3 articles)