© Reuters. Renault (RNSDF) full-year income tops consensus expectation
Renault (EPA:) (RNSDF) reported earnings Wednesday, with full-year 2023 income simply lacking consensus expectations.
The automotive producer posted income for 2023 of EUR 52.38 billion, up 13% year-on-year however just under the Bloomberg compiled consensus estimate of EUR 52.88 billion.
Automotive income got here in at EUR 48.15 billion, under the EUR 48.74 billion consensus estimate. Renault’s working margin was 7.9% in comparison with 5.5% a yr in the past and the consensus of seven.83%.
Nevertheless, the corporate’s dividend per share of EUR 1.85 was above the EUR 0.25 reported final yr, and it beat the consensus estimate of EUR 1.37.
Trying forward, for 2024, the corporate sees its working margin at a minimum of 7.5%, above the 7.25% consensus expectation, whereas it additionally sees free money stream at EUR 2.5 billion. The corporate plans to launch ten new autos in 2024.