10/28, 8:01 AM (Source: TeleTrader)
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Stellantis revenue drops 14% to €32.6 billion in Q3

Stellantis N.V. revealed on Thursday that its Pro Forma Net revenues annually dropped 14% to sit at €32.6 billion in the third quarter of 2021. Consolidated shipments were down 27% from the same period in 2020, which the report explains as "primarily due to loss of ~%30 of Q3 2021 planned production ... due to unfilled semiconductors orders."

"Stellantis’ Q3 Net revenues reflect the success of our recent vehicle launches, including new electrified offerings, combined with significant commercial and industrial actions executed by our teams in response to unfilled semiconductor orders. Full year guidance is therefore confirmed despite continued poor visibility of component supply," CFO Richard Palmer commented.

The automaker's NYSE shares dropped 0.30% in premarket trading following the earnings announcement.

Breaking the News / IB