Investing.com -- Stellantis NV (BIT:STLAM) has posted second-half earnings that beat estimates and unveiled a 3 billion euro share repurchase plan, but the carmaking giant warned that it faces a "turbulent" year ahead.
Milan-listed shares in Stellantis rose in European trading on Thursday.
Adjusted operating income fell by a tenth to 10.22 billion euros in the July to December period due in large part to a series of labor strikes in North America that halted operations in this key region for the owner of brands like Ram and Jeep. However, the figure still topped estimates of 9.54 billion euros, according to analyst expectations cited by Reuters.
Stellantis also backed its forecast for a double-digit uptick in adjusted operating income in 2024 and positive industrial free cash flow despite lingering potential headwinds from economic uncertainty.
"[M]anagement notes a number of factors could create a supportive revenue backdrop in 2024, including reduced supply and logistical constraints, stabilizing and potentially reduced interest rates, and the benefits of the Company’s expected expansion of its product offering," the company said in a statement.