Latest news with #PhilippeHouchois
New York Post
21-07-2025
- Automotive
- New York Post
Jeep and Chrysler maker Stellantis says Trump tariffs cost company $350M in first half of 2025
Jeep and Chrysler maker Stellantis on Monday reported that US tariffs have cost the company nearly $350 million as it paused production at its North American plants and lowered shipments of imported vehicles. The Dutch-based automaker — which has a portfolio that also includes Ram, Fiat and Peugeot — shipped about 109,000 fewer vehicles, a 25% drop, compared to the same period last year, the company said in releasing prelimnary data ahead of reporting earnings next week. Last year, Stellantis imported over 40% of the 1.2 million vehicles it sold in the United States, mostly from Mexico and Canada. Since Trump rolled out his tariffs in April, which include a 25% levy on foreign cars, the company idled plants in Canada and Mexico. 3 Stellantis on Monday reported a $2.68 billion loss in the first half of this year. REUTERS Overall second-quarter shipments fell by 6% compared to the same period last year, to an estimated 1.4 million vehicles, it said. The company reported preliminary losses of $2.7 billion on $83 billion in revenue for the first six months of the year, compared to a profit of $6.5 billion on nearly $100 million in revenue in the same period last year. The bulk of the losses this year was driven by $3.8 billion in pre-tax net charges, including costs tied to restructuring and the cancellation of certain programs like a hydrogen fuel cell project, the company said. Stellantis' results were 'worse than consensus, but we think poor numbers were anticipated,' Jefferies analyst Philippe Houchois wrote in a client note. Bernstein analysts said that despite a 'big' earnings miss, restructuring steps taken by Stellantis 'suggest decisive actions.' The losses underscore the tough challenges for new CEO Antonio Filosa, who was appointed in May after a disastrous performance in the company's crucial US market in 2024 forced the ouster of former boss Carlos Tavares. 3 Stellantis, whose portfolio includes Jeep, said net revenue fell to $86.5 billion — a 12.6% drop from the first six months of 2024. REUTERS Under Tavares, industry experts said Stellantis had priced itself out of the US market and failed to update popular models, leaving the company with vast numbers of unsold cars. Globally, shipments totaled 1.4 million units for the quarter, down 6% year-over-year. Filosa on Monday promised that 2025 would be 'a year of gradual and sustainable improvement' for the automaker after a 'tough first half, with increasing external headwinds.' 'Despite difficulties, it has also been six months of meaningful progress compared to the second half of 2024,' he said in a letter to employees seen by Reuters. 3 Stellantis' stock has fallen by more than 55% in the last 12 months. The slowdown in deliveries contributed to the overall revenue decline and piled additional pressure on earnings. Stellantis suspended its full-year guidance back in April. Monday's preliminary results appear aimed at resetting expectations ahead of the company's full, audited financial report, which is scheduled for release on July 29. In the meantime, the disappointing numbers have weighed on the company's stock price and investor confidence. In the last 12 months, Stellantis' stock has dipped by more than 54%. It was trading 2.55% higher on Monday morning at around $9.44 per share. With Post wires
Business Insider
19-07-2025
- Automotive
- Business Insider
Jefferies Sticks to Their Buy Rating for Stellantis (STLA)
In a report released today, Philippe Houchois from Jefferies maintained a Buy rating on Stellantis. The company's shares opened today at $9.33. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Houchois is a 5-star analyst with an average return of 16.6% and a 53.26% success rate. Houchois covers the Consumer Cyclical sector, focusing on stocks such as Mercedes-Benz Group, Stellantis, and Bayerische Motoren Werke Aktiengesellschaft. In addition to Jefferies, Stellantis also received a Buy from J.P. Morgan's Jose Asumendi in a report issued on July 8. However, yesterday, RBC Capital maintained a Hold rating on Stellantis (NYSE: STLA). The company has a one-year high of $20.72 and a one-year low of $8.39. Currently, Stellantis has an average volume of 17.28M. Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STLA in relation to earlier this year.
Business Insider
19-07-2025
- Automotive
- Business Insider
Jefferies Keeps Their Buy Rating on Bayerische Motoren Werke Aktiengesellschaft (BAMXF)
Jefferies analyst Philippe Houchois maintained a Buy rating on Bayerische Motoren Werke Aktiengesellschaft today. The company's shares closed yesterday at $95.80. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Houchois covers the Consumer Cyclical sector, focusing on stocks such as Mercedes-Benz Group, Stellantis, and Bayerische Motoren Werke Aktiengesellschaft. According to TipRanks, Houchois has an average return of 16.6% and a 53.26% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bayerische Motoren Werke Aktiengesellschaft with a $96.56 average price target, a 0.79% upside from current levels. In a report released on July 16, J.P. Morgan also maintained a Buy rating on the stock with a €89.00 price target. Based on Bayerische Motoren Werke Aktiengesellschaft's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $33.76 billion and a net profit of $2.1 billion. In comparison, last year the company earned a revenue of $36.61 billion and had a net profit of $2.79 billion
Business Insider
08-07-2025
- Automotive
- Business Insider
Jefferies Reaffirms Their Hold Rating on Renault (0NQF)
In a report released today, Philippe Houchois from Jefferies maintained a Hold rating on Renault, with a price target of €48.00. The company's shares closed yesterday at €40.46. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Houchois is a 5-star analyst with an average return of 16.8% and a 54.70% success rate. Houchois covers the Consumer Cyclical sector, focusing on stocks such as Mercedes-Benz Group, Stellantis, and Ford Motor. In addition to Jefferies, Renault also received a Hold from Deutsche Bank 's Christoph Laskawi in a report issued on July 2. However, on the same day, Barclays maintained a Buy rating on Renault (LSE: 0NQF).
Globe and Mail
15-05-2025
- Automotive
- Globe and Mail
‘Run for the Hills,' Says Philippe Houchois About Ford Stock
Ford (NYSE:F) has become the first American automaker to increase car prices in response to the tariffs introduced by Trump. At present, the price hike affects only three models, all manufactured in Mexico, which are now subject to a 25% import tariff when brought into the U.S. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. However, while not dismissive of the issue, Jefferies' Philippe Houchois, who's ranked in the top 4% of stock pros on TipRanks, thinks tariffs aren't Ford's main challenge right now. That's because, in his view, much of the potential damage is already being offset. A revision to Proclamation 10908 – the same measure that introduced those tariffs – has since reduced duties on parts and offered credits for domestic assembly, effectively cushioning the blow for U.S. automakers. As a result, Houchois sees a revenue offset of at least $2 billion and has raised his Group EBIT forecast by 42% to $6.8 billion, just below the low end of Ford's original guidance range of $7 to $8.5 billion. That, though, is as positive as Houchois gets, as the analyst thinks Ford continues to face 'multiple overhangs.' Houchois points out that Ford's financial baggage hasn't disappeared. Since early 2020, the company has over-provisioned warranty costs by more than $10 billion, an overhang that will eventually hit cash flow as settlements catch up. Meanwhile, Ford's balance sheet is hanging in there, but just barely. With only $6 billion in net liquidity in Q1 (or $5.2 billion after adjusting for negative working capital), the company's dividend coverage looks shaky at best. Meanwhile, in Europe, the company holds a limited market share in personal vehicles of just 3.3% and relies heavily on Volkswagen for its electric vehicle lineup, raising concerns around CO₂ compliance and long-term competitiveness. Yet, Europe still contributes significantly to Pro earnings (around 25%), which makes its position 'challenged with significant risk of restructuring.' Furthermore, on the EV and software front, despite some one-off improvements in Q1, Ford has yet to show meaningful scale or a clear path forward, especially after scrapping its FNV4 platform. Those issues aside, Ford is also at a disadvantage footprint-wise when compared to rival GM. Even though more final assembly happens in the U.S., Ford is less reliant on U.S. sourcing (about 47% vs 61% for GM). And While Proclamation 10908 provides a benefit, giving Ford an estimated $2.5 billion in offsets in 2025 (vs. GM's $2.1 billion), the overall impact for Ford will remain larger ($1.2 billion, while GM's will be around $1 billion) due to its lower U.S. sourcing and the higher expected tariff impact in 2026 compared to GM. No surprise, then, that Houchois isn't sticking around. Despite nudging his price target up from $7 to $8, he's keeping a firm Underperform (i.e., Sell) rating on Ford stock. With a potential 23% downside from current levels, Houchois's message to investors is loud and clear: run for the hills. (To watch Houchois' track record, click here) One other analyst joins Houchois in the bear camp and with an additional 11 Holds and 2 Buys, the consensus view is that Ford stock is a Hold (i.e., Neutral). Going by the $9.82 average price target, a year from now, shares will be changing hands for a ~7% discount. (See Ford stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
