Show summary Hide summary
Stellantis’ chief executive Antonio Filosa repeated the automaker’s revenue and margin outlook for 2026 on Wednesday and defended its multi-year cash targets, even as the company’s U.S. shares hit record lows. His remarks come amid a broad turnaround effort and mounting investor pressure after a steep share-price decline this year.
Market slide deepens
Stellantis’ U.S. stock has tumbled to an all-time closing low, closing Tuesday at a new low that has pushed the share price down about 60% year-to-date. That loss would mark the company’s worst annual performance since the Fiat Chrysler–PSA merger created Stellantis in January 2021.
Mid-stage trial shows Eli Lilly combo delivers bigger weight loss, company says
Russell Brand attorney asks watchdog to review his conduct after attacking reporter who exposed him
Shares fell further Wednesday, closing 1.58% lower at $4.36.
Reaffirming financial targets
Filosa restated the company’s outlook for the current year: management expects a mid-single-digit percentage rise in net revenue and a low-single-digit adjusted operating margin.
He also reiterated goals for cash generation. Filosa said Stellantis aims to be cash-flow positive by next year and is targeting more than 3 billion euros (about $3.4 billion) of free cash flow in 2028. By contrast, the company reported a free cash flow loss of 4.5 billion euros last year.
Company statements also point to a broader target of achieving positive free cash flow by 2027, reflecting a multi-year timeline to restore liquidity.
A costly turnaround
The automaker is pursuing roughly a $70 billion turnaround program after years of margin pressure and declining sales, particularly in North America and the U.S. market. The plan aims to reverse that trend through a mix of operational and strategic moves.
Management has emphasized boosting region-specific nameplates such as Ram and Jeep in the U.S. while keeping the company’s wide portfolio intact. Stellantis currently manages 14 automotive brands and has said it does not plan to materially shrink that lineup.
How management plans to change course
Executives describe the reset as focused on several pillars: sharper oversight of the brand portfolio, targeted new investments, stronger partnerships, a more optimized manufacturing footprint, improved execution, and greater empowerment of regional and local teams.
Filosa, who took the CEO role in June 2025, framed the strategy around customer choice. At an Automotive News event in Detroit he said, “The mantra of the reset is around freedom of choice… It’s around listening more to the customer.”
Analyst caution
Not all observers are convinced the package will satisfy investors. RBC Capital Markets analyst Tom Narayan noted in a recent investor note that, despite public assurances about keeping the company together, a breakup remains a “plausible longer-term scenario” for Stellantis.
That comment adds to market skepticism as the company works to translate its turnaround plan into measurable cash returns and share-price recovery.
