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Chrysler maker Stellantis rallies while BMW struggles on new margin guidance

Chrysler maker Stellantis rallies while BMW struggles on new margin guidance

8/3/2021 5:19:00 PM

Chrysler maker Stellantis rallies while BMW struggles on new margin guidance

Stellantis and BMW headed in opposite direction Tuesday as investors responded to new margin guidance set at both automakers

Pierre-Yves Quéméner, an analyst at Stifel, said the magnitude of the earnings beat was a surprise.BMW BMW, -4.72% shares however fell 5% in Frankfurt, even as the luxury automaker reported second-quarter earnings ahead of expectations. The second-quarter profit was boosted due to a pension accounting change based on the likelihood of German employees who will switch to a defined contribution plan.

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BMW nudged its annual margin target up in the automotive segment by one percentage point to between 7% and 9%, which implies a declining margin for the second half from the 13% achieved in the first half, pointed out Quéméner.The broader Stoxx Europe 600 SXXP, -0.04% was steady in afternoon trade. BP BP, +4.49% rose after the oil giant raised its dividend and increased its stock buyback program, and French bank Societe Generale GLE, +6.58% rallied after the bank’s second-quarter earnings.

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Jeep, Dodge Maker Posts Strong Results Amid Higher Demand and PricesStellantis also warned that increases in raw-material prices were likely to get worse in the second half and a global shortage of chips is likely to continue to hit production. good luck Or you coukd make them from GRAPHENE...which we get from COAL sentient02970

Stellantis Raises 2021 Target for Adjusted Operating Income Margin to Around 10%By Kim Richters Stellantis NV on Tuesday raised its target for profitability for the year after better revenue and profit in the first half. The auto maker... horrible

Stellantis CEO lives up to his reputationStellantis (STLA.MI), , boss Carlos Tavares is delivering the goods. The group formed in January from the merger of Fiat Chrysler Automobiles and Peugeot-maker PSA reported on Tuesday an 11.4% adjusted operating profit margin for the first half of the year. That thrashed a previous 2021 target of between 5.5% and 7.5% , prompting Tavares to hike his goal for the year to 10%. That’s considerably fatter than the 7.4% that Volkswagen (VOWG.DE), (VOWG_p.DE) is expected to deliver, according to Refinitiv estimates.

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