Stellantis CEO Antonio Filosa reports second-quarter net profit of 293 million euros as turnaround plan shows progress.
Stellantis CEO Antonio Filosa reported that the automotive conglomerate achieved a net profit of 293 million euros in the second quarter, a significant improvement from a loss of 1.87 billion euros a year earlier. The profit was driven by rising demand in North America and the successful implementation of Filosa's turnaround plan, which focuses on the four global brands: Jeep, Ram, Peugeot, and Fiat. While adjusted operating income more than tripled to 773 million euros, it fell slightly below analyst consensus estimates. Consequently, Milan-listed shares of Stellantis fell by approximately 5% following the news. Despite the lower-than-expected income, the company posted industrial free cash flows of 1 billion euros, beating forecasts. Filosa stated that the company remains confident in delivering its 2026 financial guidance. The turnaround strategy, dubbed FaSTLAne 2030, aims for long-term profitable growth by prioritizing brand investments and expanding the product lineup to include more affordable options by 2030.