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Stellantis NV STLA Stock Quote

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Morningstar‘s Stock Analysis STLA

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Stellantis' Q3 Revenue Up as Chip Crunch Abates, Maintains Guidance; Slight FVE Increase to EUR 36

Richard Hilgert Senior Equity Analyst

Analyst Note

| Richard Hilgert |

No-moat-rated Stellantis reported third-quarter revenue of EUR 42.1 billion, jumping 29% from EUR 32.6 billion reported for the prior year when the chip crunch was at its worst. Excluding favorable currency, organic revenue rose 19%. The top line beat the FactSet consensus estimate of EUR 40.7 billion by 3%. Stellantis’ volume and market conditions, still affected by the chip shortage but to a lesser degree and the Ukraine crisis, contributed 9% points to revenue. However, vehicle pricing, content, and mix added 10% while average revenue per unit jumped 14% as the firm allocates chips to production of higher margin vehicles. The revenue increase outpaced a 13% rise in unit volume to 1.3 million from 1.2 million last year. The automaker (French domiciled for accounting purposes) discloses only revenue in the first and third quarters.

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Key Statistics STLA

Company Profile STLA

Business Description

Stellantis NV was formed on Jan. 16, 2021, from the merger of Fiat Chrysler Automobiles and PSA Group. The combination of the two companies created the world’s fourth-largest automaker, with 14 automobile brands. In 2021, forma Stellantis had sales volume of 6.1 million vehicles and EUR 152.1 billion in revenue, albeit substantially affected by the microchip shortage. Europe is Stellantis' largest market, accounting for 47% of 2021 global volume while North America and South America were 30% and 14%, respectively.

Taurusavenue 1
Hoofddorp, NH, 2132 LS, Netherlands
T +31 237001511
Industry Auto Manufacturers
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2022
Employees 281,595

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