12:26 PM EDT, 04/30/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Stellantis ( STLA ) shares fell 11% in recent trading on Tuesday, after the company's Q1 revenues fell short of the consensus and its consolidated shipments declined.

The company reported Q1 net revenue of 41.70 billion euros ($44.71 billion), down from 47.24 billion euros a year earlier.

Analysts polled by Capital IQ expected 43.32 billion euros.

Stellantis ( STLA ) said its consolidated shipments decreased to about 1.34 million units in Q1 from 1.48 million units a year earlier.

The company said it will pay a dividend of 1.55 euros per share on Friday.

Price: 22.19, Change: -2.73, Percent Change: -10.96