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Renault full-year revenue tops consensus expectation

Published 15/02/2024, 05:34 am
Updated 15/02/2024, 05:34 am
© Reuters.

Renault (EPA:RENA) (RNSDF) reported earnings Wednesday, with full-year 2023 revenue just missing consensus expectations.

The car manufacturer posted revenue for 2023 of EUR 52.38 billion, up 13% year-on-year but just below the Bloomberg compiled consensus estimate of EUR 52.88 billion.

Automotive revenue came in at EUR 48.15 billion, below the EUR 48.74 billion consensus estimate. Renault's operating margin was 7.9% compared to 5.5% a year ago and the consensus of 7.83%.

However, the company's dividend per share of EUR 1.85 was above the EUR 0.25 reported last year, and it beat the consensus estimate of EUR 1.37.

Looking ahead, for 2024, the company sees its operating margin at at least 7.5%, above the 7.25% consensus expectation, while it also sees free cash flow at EUR 2.5 billion. The company plans to launch ten new vehicles in 2024.

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