Faurecia 2022 Results Mixed on Headwinds and Hella Acquisition; FVE Raised to EUR 45

No-moat-rated Faurecia reported a 2022 loss per share of EUR 2.20, well below the FactSet consensus of a EUR 1.27 loss and EUR 2.33 worse than the year-ago earnings per share of EUR 0.13. The chip shortage, Ukraine crisis, higher raw material costs, increased energy costs, problems with a seating program launch in North America, and other inflationary cost pressures contributed to the shortfall. The French auto parts vendor discloses only revenue in the first and third quarters while financial statements are published for half- and full-year results.