2024-05-02 05:26:43 ET
Summary
- Renault's top line expanded by +5.9% YoY on a constant-currency basis in Q1 2024, which translated into a +1.4% revenue beat.
- RNSDF has stuck to its existing full-year financial guidance, and there are multiple factors supporting its FY 2024 performance.
- I stick to a Buy rating for Renault after reviewing the company's first quarter business update and assessing its full-year prospects.
Elevator Pitch
Renault SA (RNSDF) [RNO:FP] is still rated as a Buy.
My earlier write-up, published on September 11, 2023, highlighted that Renault's "Ampere and Alpine businesses put the company in a good position to benefit from a greener and electric future." With this update, my attention turns to RNSDF's first quarter top-line performance, the stock's dividend policy, and the company's outlook....
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Renault: Still A Buy With Q1 Revenue Beat