TECH - Stellantis Weathered UAW Strikes Better Than GM And Ford With Less Financial Toll: CFO | Benzinga
Stellantis (NYSE:STLA) has reportedly fared better financially than General Motors (NYSE:GM) and Ford (NYSE:F) during the recent United Auto Workers (UAW) strikes.
According to a report from Teslarati, the UAW strikes have had a less significant impact on Stellantis’s bottom line compared to its counterparts. The strikes coincided with the earnings reports from Ford and GM, disclosing the financial toll of the six-week strikes on each company.
Stellantis’ Chief Financial Officer, Natalie Knight, revealed that the strikes had cost her company less than they had GM and Ford. Despite the financial impact, Stellantis is not planning to adjust its cash or profitability forecasts.
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Knight further explained that the strikes would cost Stellantis less than 750 million euros (approx. $792 million) in total profitability, with a total revenue impact of roughly 3 ...