Stellantis CEO reconfirms 2026 guidance, says turnaround plan continues as automaker’s shares hit new low

DETROIT — Stellantis

 CEO Antonio Filosa on Wednesday reconfirmed the company’s 2026 guidance and longer-term cash flow targets as U.S. shares of the embattled automaker trade at an all-time low.

“We are completely committed and we are convinced that we will do that,” Filosa said Wednesday about Stellantis’ forecast for this year of a mid-single-digit percentage increase in net revenue and a low-single-digit adjusted operating margin.

Filosa also reconfirmed the company is aiming to be cash flow positive by next year and generate more than 3 billion euros ($3.4 billion) of free cash flow in 2028.

The stock ended Tuesday at a new closing low for the company’s U.S. shares, contributing to a roughly 60% loss so far this year. The stock is on track for its worst annual performance since the automaker was formed through the merger of Fiat Chrysler and PSA Groupe in January 2021.

Shares of the company fell further Wednesday, closing the day 1.58% lower, at $4.36 a share.

The trans-Atlantic automaker has been executing a roughly $70 billion turnaround plan following margin dilution and yearslong sales declines, especially in North America and the U.S.

Filosa’s turnaround strategy has included focusing on regional brands to boost sales, such as Ram and Jeep in the U.S., but it is not cutting down its vast portfolio of 14 automotive brands. The plan’s core pillars are “sharper management” of the brand portfolio, new investments, enhanced partnerships, an optimized manufacturing footprint, “excellence in execution,” and empowerment of the company’s regions and local teams.

RBC Capital Markets analyst Tom Narayan on Tuesday in an investor note said despite public comments to keep the company together, the firm views a “break-up as a plausible longer-term scenario” for Stellantis.

The goal is for the company to achieve positive free cash flow by 2027. Free cash flow for the automaker was a loss of 4.5 billion euros last year. 

“The mantra of the reset is around freedom of choice,” Filosa, who became CEO in June 2025, said Wednesday during an Automotive News event in Detroit. “It’s around listening more to the customer.”

Filosa says Stellantis turnaround plan will pay off by 2027

Stellantis is holding to its 2026 guidance, which calls for a mid-single-digit percentage increase in net revenue. The automaker also expects a low-single-digit adjusted operating income margin, according to its second-quarter financial results.

Industrial free cash flow is expected to improve this year. That includes about 2 billion euros in cash payments tied to second-half 2025 charges. Stellantis expects industrial free cash flow to turn positive in 2027.

First-half net revenue reached 81.6 billion euros, up 10% from a year earlier. The adjusted operating income margin was 2.1%, up 140 basis points. Industrial free cash flow was a loss of 921 million euros, a 69% improvement. Consolidated shipments rose 11% to 2.958 million units. The company also held its full-year guidance when it reported those results in July.

“The second quarter was marked by continued progress, led by North America and supported by important contributions from all other regions,” CEO Antonio Filosa said in a company statement.

Stellantis set longer-term targets at its investor day in May. The company is aiming for 3 billion euros of industrial free cash flow in 2028. It targets 6 billion euros a year by 2030. Industrial free cash flow was a loss of 4.5 billion euros in 2025. Stellantis also targets a consolidated adjusted operating income margin of 7% by 2030.

Those goals sit inside the FaSTLAne 2030 strategic plan, which commits more than 60 billion euros over five years. About 24 billion euros of that goes to global platforms, powertrains and technologies. The plan includes more than 60 new vehicle launches and 50 significant refreshes through 2030. Stellantis also targets 6 billion euros in annual cost savings by 2028.

Four global brands, Jeep, Ram, Peugeot and Fiat, receive 70% of brand and product investment. Chrysler, Dodge, Citroën, Opel and Alfa Romeo are managed as regional brands. DS and Lancia are specialty brands, and Maserati operates as a luxury brand.

The plan rests on six pillars:

Sharpen and simplify the brand portfolio

Allocate capital to the areas with the highest returns and develop global assets

Develop strong partnerships

Optimize the manufacturing footprint

Drive disciplined execution

Empower regions to develop tailored plans

North America carries the largest share of the investment. The plan allocates 60% of a 36 billion euro product investment to the region. Stellantis targets 25% revenue growth and 35% more volume in North America, along with 11 all-new vehicles. The company is aiming for an adjusted operating income margin of 8% to 10% in the region by 2030.