-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：Stellantis在2026年第一季度恢复盈利，调整后营业利润率提升160个基点至2.5%，这主要得益于北美地区8亿欧元营业收入的复苏，其中美国销售额逆势增长4%。工业自由现金流增长11亿欧元，五个地区中有四个地区实现了正增长，反映出更强劲的运营表现和审慎的资本配置。积极的产品更新推动了业务增长，包括推出新款Jeep Cherokee和Dodge Charger SIXPACK，以及增产10万台HEMI V8发动机，旨在丰富产品组合。管理层确认了2026年营收增长中个位数和营业利润率低个位数的预期，并预计随着新产品全面上市，业绩将环比改善。随着战略调整进入执行阶段，新战略将于 5 月 21 日投资者日公布，库存建设与产品发布同步，Stellantis 已做好准备，在 2027 年实现正的工业自由现金流，业绩将逐步提升。
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