©Reuters. Renault’s (RNSDF) full-year revenue beats consensus expectations
Renault (EPA:) (RNSDF) reported earnings Wednesday, with full-year 2023 revenue just missing consensus expectations.
The automaker reported 2023 revenue of 52.38 billion euros, up 13% year over year, but just below the consensus estimate compiled by Bloomberg of 52.88 billion euros.
Automotive revenue came in at 48.15 billion euros, below the consensus estimate of 48.74 billion euros. 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 €1.85 was higher than the €0.25 reported last year and beat the consensus estimate of €1.37.
Looking ahead, for 2024, the company expects an operating margin of at least 7.5%, above consensus expectations of 7.25%, while also forecasting free cash flow of $2.5 billion of Euro. The company plans to launch ten new vehicles in 2024.