05:12 AM EDT, 10/31/2024 (MT Newswires) -- Stellantis ( STLA ) reported Thursday Q3 net revenue of 32.96 billion euros ($35.77 billion), down from 45.14 billion euros a year earlier.

Analysts polled by Capital IQ expected 33.2 billion euros.

The company said the decline was "primarily due to lower shipments and unfavorable mix as well as pricing and foreign exchange impacts."

Consolidated shipments of about 1.15 million units were down 20% year over year.

The company reiterated its full-year 2024 guidance for an adjusted operating income margin of 5.5% to 7%.

Stellantis ( STLA ) said its "product blitz" was on track to deliver about 20 new models in 2024.

Price: 13.15, Change: -0.08, Percent Change: -0.60