Stellantis CEO Doubles Down on 2026 Targets as Shares Hit All-Time Low

Stellantis CEO Antonio Filosa on Wednesday reconfirmed the automaker's 2026 guidance even as the company's U.S.-listed shares closed at an all-time low of $4.43.

"We are completely committed and we are convinced that we will do that," Filosa said about the 2026 outlook, which calls for a mid-single-digit percentage increase in net revenue and a low-single-digit adjusted operating margin.

Filosa also reconfirmed two cash-flow milestones: the company aims to turn cash flow positive by next year and to generate more than 3 billion euros of free cash flow in 2028.

The stock's decline is steep. Shares fell 4.1% in Tuesday's session to close at $4.43, a new closing low for the U.S. listing. The drop has pushed losses for the year to nearly 60%, putting the stock on track for its worst annual performance since Stellantis was formed through the merger of Fiat Chrysler and PSA Groupe in January 2021.

The reconfirmed guidance lands in the middle of a roughly $70 billion turnaround plan. Stellantis launched the overhaul after margin dilution and years of sales declines, with the damage concentrated in North America and the U.S. market in particular.

Filosa's strategy leans on regional brands to reignite demand. Ram and Jeep carry the effort in the United States. But the CEO is not shrinking the company's vast portfolio, which still spans 14 automotive brands.

The plan rests on six stated pillars: "shperer 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.

"The mantra of the reset is around freedom of choice," Filosa said Wednesday during an Automotive News event in Detroit. "It's around listening more to the customer."

Filosa took the top job in June 2025 and now owns the turnaround timeline. The near-term objective is positive free cash flow by 2027 — a significant swing from last year, when the automaker burned through 4.5 billion euros in free cash flow.

The gap between that loss and the 2027 target frames the stakes of the plan now underway.