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Business philosophy26 Mar 2024
John Elkann: Leading Stellantis, Ferrari, and Exor to New Heights
As the Chairman of Stellantis and Ferrari and CEO of Exor, John Elkann is arguably the most influential person in the global automotive sector.
Stellantis
Stellantis (STLAM) investor relations material
Stellantis Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
Q3 net revenues rose 1% YoY to €37.611B; consolidated shipments were 1.286M, down 1%.
Net loss narrowed to €453M from €4.532B; adjusted operating income (AOI) rose to €256M from €90M.
Industrial free cash flow (IFCF) was negative €4.009B, improving €295M YoY.
9M revenue rose 7% to €119.225B; net profit was €217M versus a €6.788B loss, and AOI was €1.989B versus €630M.
FY 2026 guidance was reaffirmed, with positive industrial FCF expected in 2027.
Financial highlights
Q3 diluted EPS was -€0.18 versus -€1.57; adjusted diluted EPS was -€0.01 versus -€0.04.
Q3 AOI margin rose 50 bps YoY to 0.7%; 9M margin was 1.7% versus 0.6%.
9M adjusted diluted EPS was €0.31 versus €0.14.
9M operating cash flow was negative €6.817B; IFCF was negative €4.930B versus negative €7.309B.
Q3 cost of revenues fell 10.7% YoY to €34.2B; 9M cost of revenues was €106.6B.
Outlook and guidance
FY 2026 guidance reaffirmed: net revenue growth in the mid-single digits, AOI margin in the low-single digits and improved YoY IFCF.
Q4 shipments are expected to exceed Q3, pricing to remain broadly stable and seasonal working capital to contribute positively.
VCP savings are expected to reach the mid-hundreds of millions of euros in Q4, about double Q3; at least 40% of the €6B run-rate target is expected by year-end.
FY 2026 net tariff costs are estimated at €1.0B, including €0.6B through September; cash payments tied to H2 2025 charges are estimated at €1.6B.
FY 2026 capital expenditures and R&D are expected at 6.5% of net revenues; Q4 memory-chip and recall costs are expected to be incremental headwinds.
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Latest events from Stellantis
- €60B investment and cost-saving drive aim for 8–10% AOI margin and €3B free cash flow by 2028.STLAM
Jefferies Global Industrials Conference 2026 - Q2 2026 revenues rose 13% to €43.5B, net profit hit €293M, and AOI margin reached 1.8%.STLAMQ2 2026
- €60B plan targets €190B revenue, 7% margin, and 60+ launches by 2030.STLAMInvestor Day 2026
- Q1 2026 saw a return to profit, 6% revenue growth, and reinforced liquidity.STLAMQ1 2026
- 2025 loss of €22.3B led to a strategic reset, leadership changes, and approved proposals.STLAMAGM 2026
- €22.3B net loss in 2025 from reset; H2 growth and 2026 recovery expected with new launches.STLAMQ4 2025
- H1 2024 saw steep profit and revenue declines, but a major product launch wave and cost actions are underway.STLAMQ2 2024
- All major proposals were approved as profits and shipments fell, but corrective actions were announced.STLAMAGM 2025
- Net profit plunged 70% on 17% lower revenues, but 2025 guidance signals a return to growth.STLAMQ4 2024
Next Stellantis earnings date
Q4 202626 Feb, 2027
Stellantis
Next Stellantis earnings date
Q4 202626 Feb, 2027
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Frequently asked questions
One of the World's Largest Auto Manufacturers
Stellantis is a multinational automotive manufacturing corporation that ranks among the world's largest. Born from the merger of Fiat Chrysler Automobiles and Groupe PSA in 2021, Stellantis brings together a collection of iconic automotive brands, including Fiat, Chrysler, Peugeot, Citroën, and Jeep, among others. Operating in over 130 countries, Stellantis's operations span the globe, with a strong presence in Europe, North America, and emerging markets.
A Union of Auto Titans
Stellantis’s lineage carries a rich history and heritage in the automotive industry, thanks to the diverse brands it has inherited from its parent companies. Chrysler’s legacy stretches back to 1925, and Fiat’s even further to 1899. Brands like Peugeot, Maserati, and several others are also included under the broader Stellantis umbrella. These brands have made significant contributions to the automotive industry over the years and continue to be central to the company’s identity, even if they are now part of the larger Stellantis family.
The Global Reach of Stellantis
Stellantis, with its vast array of brands and models, offers a diverse range of vehicles that span from luxury cars and sporty performance models to rugged SUVs and practical family vehicles. With around 400,000 employees, the auto giant operates over 40 manufacturing plants worldwide and maintains a presence in more than 130 countries. Its products and services cater to a diverse customer base, from private individuals to fleet operators, government agencies, and commercial entities. Today, Stellantis stands as one of the world's biggest automakers behind names like Toyota and Volkswagen.
Welcoming the Future of Auto Industry
Stellantis has recognized the industry's shifting landscape and the inevitable electric future. The company is investing in the development and production of electric and hybrid vehicles, in tune with the global shift toward cleaner and more sustainable transportation. The company has outlined plans to transition to electric mobility and aims for a net-zero carbon footprint by 2038, with intermediate targets of reducing CO2 emissions by 50% by 2030 compared to 2010 levels. Furthermore, Stellantis is also exploring advanced driver assistance systems (ADAS) and autonomous driving technologies.