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Stellantis reported a smaller third-quarter loss Wednesday and reaffirmed its full-year outlook, but the automaker continued to burn cash as North American revenue fell.
The company posted a net loss of €453 million, compared with a €4.532 billion loss a year earlier. Revenue rose 1% to €37.611 billion, according to its third-quarter financial results. The figures are unaudited.
Adjusted operating income reached €256 million, up from €90 million a year earlier, with a margin of 0.7%. Adjusted operating income is a non-GAAP measure and is separate from the company’s reported net loss.
Cash outflow remains substantial
Industrial free cash flow, also a non-GAAP measure, was negative €4.009 billion, compared with negative €4.304 billion in the same quarter of 2025. Reported cash flow from operating activities was negative €3.930 billion.
Stellantis ended the quarter with €42.7 billion in industrial available liquidity. Consolidated shipments fell 1% to 1.286 million vehicles.
North American revenue declined 3%, reflecting lower volumes after planned production downtime. Revenue rose 3% in both Enlarged Europe and South America, while falling 19% in the Middle East and Africa and 7% in Asia-Pacific.
Guidance holds as turnaround continues
Stellantis reaffirmed its 2026 forecast for a mid-single-digit percentage increase in revenue and a low-single-digit adjusted operating margin. It continues to expect industrial free cash flow to improve from 2025, including about €1.6 billion in cash payments tied to charges recorded in the second half of last year.
The company also maintained its expectation of positive industrial free cash flow in 2027. That is a forecast, not a result already achieved.
Chief Executive Antonio Filosa said Stellantis remained on track to implement at least 40% of its targeted €6 billion in run-rate efficiencies by the end of 2026. The company expects higher consolidated shipment volumes in the fourth quarter than in the third, broadly stable pricing and a seasonal improvement in working capital.
Stellantis estimated its full-year net tariff costs at €1 billion, with €600 million incurred through September.
JBizNews Desk | Amsterdam
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