Stellantis N.V. Earnings Recaps
Q2 2026
Aug 4, 2026
Stellantis shares declined 4.2% following Q2 results, reflecting investor disappointment with the cautious outlook despite operational improvements and reaffirmed full-year guidance.
Key takeaways
- Q2 net revenues increased 13% year-over-year; AOI margin improved by 120 basis points.
- Industrial free cash flow was positive EUR 1 billion, up EUR 1 billion from last year.
- Production efficiency rose significantly, +870 basis points in North America and +170 basis points in Europe.
- Market share gains across key regions; North America sales up 6%, Ram sales up 12%, Chrysler up 54%.
- Despite operational progress and strong sales in multiple regions, management reaffirmed full-year guidance without upgrades, signaling caution to investors.
Q2 2025
Aug 2, 2025
Stellantis reported a challenging first half of 2025 with a significant 13% decline in net revenue, although early signs of recovery are evident through improved commercial KPIs and an emerging product pipeline.
Key takeaways
- Consolidated shipments fell 7% to 2.7 million units, with North America and Europe driving declines, but showing improvement from prior quarters.
- Net revenue dropped to EUR 74 billion, impacted by volume, mix, pricing pressures, and foreign exchange challenges.
- AOI margins contracted to EUR 540 million, reflecting a 70 basis point margin, affected by increased industrial costs and tariffs.
- Industrial free cash flow recorded an outflow of EUR 3 billion due to insufficient AOI generation covering CapEx and R&D expenses.
- Sequential improvements are noted, particularly in North America, driven by new product launches and improved inventory management, suggesting potential for second half recovery.