Stellantis Drops as Investors Bemoan One-Time Earnings Gain (2)

Stellantis NV shares fell as investors questioned the sustainability of an apparent turnaround in the key North American market, where its performance was bolstered by price cuts and one-time financial gains.

Analysts cited a lower-than-expected margin in the region in the first quarter, as well as a booked one-time gain of around €400 million ($467 million) for expected future tariff refunds. They took the shine off Stellantis’s return to profit, causing the stock to drop the most since February.

The Jeep and Peugeot owner has a history of catching investors off-guard, including with a €22.2 billion charge in February ...