By David Sachs

Stellantis on Wednesday confirmed its 2023 guidance following a jump in net profit and revenue in the first half.

The Netherlands-based car maker posted revenue of 98.37 billion euros ($108.75 billion), a 12% rise from the first half of 2022. Net profit rose 37% to EUR10.92 billion.

The company, which makes over a dozen brands including Jeep and Dodge, said adjusted operating income rose 11% to EUR14.13 billion. Its adjusted operating income margin was 14.4% compared to 14.5% a year ago.

Stellantis confirmed its 2023 guidance of a double-digit adjusted operating income margin and positive industrial free cash flows.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

July 26, 2023 02:14 ET (06:14 GMT)

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