Stellantis, the automaker behind brands such as Jeep and Peugeot, announced a significant share buyback program following a year of record sales, despite facing operational challenges. The company plans to launch a €3 billion share buyback in 2024 after reporting a net income of €18.63 billion (est. €18.62 billion) and net revenue of €189.54 billion (est. €189.33 billion) for the fiscal year 2023. These figures slightly exceeded analyst expectations. However, Stellantis also experienced a drop in margins due to strike disruptions in North America and increased competition in Europe, leading to a 10% decline in operating profit in the second half of the year. Additionally, Safran reported its fiscal year 2023 earnings, with adjusted revenue reaching €23.20 billion (est. €23.28 billion) and a dividend per share of €2.20 (est. €2.04). Safran anticipates its adjusted revenue to increase to about €27.4 billion in 2024 (est. €26.69 billion). Stellantis also announced a separate $3.22 billion buyback after record sales.
Auto giant Stellantis warned of a turbulent year ahead after its operating profit fell in the second half of 2023 when strikes caused long stoppages at its operations in North America, its profit powerhouse https://t.co/W6j1qEvZlu https://t.co/KXeG18GdoM
Stellantis Launches Buyback After Record Year $STLA https://t.co/hWvLxgrU8a
Auto giant Stellantis warned of a turbulent 2024. It comes after the Jeep and Fiat maker saw operating profit fall by a tenth in the second half of 2023 https://t.co/W6j1qEvZlu https://t.co/hKvt9inq9X
$STLA (+5.5% pre) Stellantis Buyback Drives Shares Higher as Turbulent Year Looms https://t.co/9FRf1IWRzD
$STLA multi-month highs after results, buyback Felt it was the best value in all of Auto, wrote up into recent dip w/ the put selling https://t.co/6TVqiJO4gp
Jeep, Dodge-maker Stellantis' profit slides as Detroit Three strikes bite https://t.co/Tbb91msOW8
Renault and Stellantis to increase costs cuts in ‘turbulent year’ https://t.co/FcP219igam
Stellantis operating profit down 10% in H2 due to N. America strikes https://t.co/UDAVtFgwBc https://t.co/fuQgTBoA3u
Stellantis Margins Drop On Strike Disruption; Announces Buyback - BBG https://t.co/T1523orx5i
Stellantis’ returns fall after strikes disrupted output in North America and the maker of Peugeot cars faced tougher competition in Europe https://t.co/aANG4ZyQxN
Stellantis to launch $3.22 billion in buybacks after record sales https://t.co/CmVhGezn4S
Stellantis FY 23 Earnings: - Net Income EU18.63B (est EU18.62B) - Net Rev EU189.54B (est EU189.33B) - Plans €3 Billion Share Buyback In 2024
Safran FY 23 Earnings: - Adj Rev EU23.20B (est EU23.28B) - Div/Shr EU2.20 (est EU2.04) - Sees 2024 Adj Rev About EU27.4B (est EU26.69B)