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Stellantis: earnings and industrial recovery

This dossier follows Stellantis’s earnings and industrial turnaround, including regional profitability differences and cash flow. It distinguishes published results from management targets.

Last updated : 1 key moments
Aerial view of Stellantis’s Mulhouse plant.
Stellantis’s Mulhouse plant, aerial view dated 7 September 2026. Archive illustration, unrelated to the earnings announcement. DemieK07, CC BY-SA 4.0. — DemieK07 / Wikimedia Commons — CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0/ ; Mulhouse, 7 septembre 2026 ; redimensionnement.

Where things stand

As of 28 October 2026, Stellantis reports a third-quarter net loss of about €500 million and negative industrial free cash flow of €4 billion. Guidance is maintained.

Confirmed

Stellantis narrows loss but industrial cash flow remains negative

Stellantis announced a third-quarter net loss of about €500 million on 28 October 2026, a 90% reduction from a year earlier. The carmaker nevertheless reported negative industrial free cash flow of €4 billion.

Aerial view of Stellantis’s Mulhouse plant.
Stellantis’s Mulhouse plant, aerial view dated 7 September 2026. Archive illustration, unrelated to the earnings announcement. DemieK07, CC BY-SA 4.0. — DemieK07 / Wikimedia Commons — CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0/ ; Mulhouse, 7 septembre 2026 ; redimensionnement.

Quarterly revenue rose 1% to €37.6 billion. Revenue increased 3% in Enlarged Europe and South America, while falling 3% in North America, according to results released in Amsterdam.

Adjusted operating income reached about €300 million, with a margin of 0.7%. All regions posted positive adjusted margins except Enlarged Europe. The narrower net loss also reflects comparison with a 2025 period affected by exceptional charges.

Stellantis maintained its 2026 guidance and forecast positive industrial free cash flow in 2027. That remains a target: the reported quarter does not yet mark a return to positive cash generation.

Sources 4