Automaker Stellantis up after Q3 beat against weak expectations
STLA•Stellantis reported third-quarter adjusted EBIT of €256 million, above the €191 million forecast in a Reuters poll, while recording a €4 billion cash burn. Its Milan-listed shares rose around 3%.
1. Earnings and cash flow
Stellantis posted adjusted EBIT of €256 million for the third quarter, compared with €191 million in a Reuters poll of analysts. J.P. Morgan called the €4 billion cash burn significant, while Equita said the quarter was weak but not as bad as feared; the stock was down almost 60% year to date, including Wednesday’s gains.
