Stellantis (STLA) Q2 2026 Earnings Call Transcript

Stellantis reported Q2 2026 net revenues of EUR 43.5 billion, up 13% year over year, driven by higher volume in North America and Europe. Adjusted operating income improved to EUR 773 million, up EUR 560 million, with an AOI margin of 1.8% after a 120-basis-point increase. Consolidated shipments rose 10% to 1.6 million units, with North America shipments up by 122,000. The company generated industrial free cash flow of positive EUR 1 billion, helped by higher AOI and seasonal working capital. It also reiterated industrial cost savings of EUR 1.9 billion and a Value Creation Program targeting EUR 6 billion in annual run-rate reductions by 2028.