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Stellantis Confirms 2023 Guidance After Revenue, Net Profit Jump in 1st Half

July 26, 2023 at 02:15 am

By David Sachs

Stellantis on Wednesday confirmed its 2023 guidance following a jump in net profit and revenue in the first half.

The Netherlands-based car maker posted revenue of 98.37 billion euros ($108.75 billion), a 12% rise from the first half of 2022. Net profit rose 37% to EUR10.92 billion.

The company, which makes over a dozen brands including Jeep and Dodge, said adjusted operating income rose 11% to EUR14.13 billion. Its adjusted operating income margin was 14.4% compared to 14.5% a year ago.

Stellantis confirmed its 2023 guidance of a double-digit adjusted operating income margin and positive industrial free cash flows.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

07-26-23 0214ET

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	STELLANTIS N.V.	20.2 EUR	-1.34%	-1.70%	84.31B
	STELLANTIS N.V.	20.22 EUR	-1.17%	-1.68%	84.31B

David Sachs

Mr. David Sachs is a Chief Financial Officer at ImmunityBio, Inc. He is on the Board of Directors at Chan Soon-Shiong Institute For Medicine, Keyssa, Inc., Mox Networks LLC and PacketFabric, Inc. Mr. Sachs was previously employed as a Chief Financial Officer by NantKwest, Inc., a Chief Financial Officer by Integrity Healthcare LLC, and a Principal by Nant Capital LLC. He also served on the board at Ziosoft, Inc. He received his undergraduate degree from the University of California, Los Angeles and an MBA from Anderson School of Management.

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