Jeep maker Stellantis falls as much as 6% after issuing warning on one-off costs

Core Viewpoint - Stellantis has issued a warning regarding one-off costs for the second half of the year, despite reaffirming its financial guidance and reporting positive third-quarter results [1][2][3]. Financial Performance - Stellantis reported net revenues of 37.2 billion euros ($43.2 billion) for the third quarter, marking a 13% year-on-year increase, primarily driven by growth in North American and European markets [3]. - Analysts had anticipated third-quarter net revenues to be around 36.58 billion euros, indicating that Stellantis exceeded expectations [4]. Strategic Actions - The company is implementing strategic changes to enhance customer choice and has seen positive sequential progress and solid year-over-year performance in Q3 [4]. - Stellantis announced a significant $13 billion investment in the U.S. to align its resources and support long-term profitable growth [5]. Market Reaction - Following the announcement of the one-off charges, Milan-listed shares of Stellantis fell by as much as 6%, later stabilizing to a 4.3% decrease, with the stock down over 25% year-to-date [3].