Stellantis profit miss stirs doubts over carmaker's revival plan
STLA•Quarterly profit misses expectations
MILAN, July 30 (Reuters) - Stellantis missed expectations for quarterly operating income, sending its shares lower, as investors seek stronger evidence that CEO Antonio Filosa's turnaround of the Jeep maker is paying off.
The Franco-Italian group posted second-quarter adjusted earnings before interest and tax (EBIT) of €773 million ($884 million) on Thursday, boosted by strong North American revenue.
That was more than triple the figure a year earlier but was well short of the €914 million expected by analysts in a Reuters poll.
Margins, costs and tariffs weigh on sentiment
Citi analysts said the adjusted operating income margin remained low at 1.8% and pointed to negative pricing in Europe, higher administrative and R&D costs, an unfavourable currency swing and tariffs.
The carmaker's Milan-listed shares were down 4.3% at €5.06 by 0950 GMT, among Europe's worst-performing stocks, after falling as much as 8% in early trading.
