Stellantis shares rose 13% on Wednesday to close at $4.69 on the New York Stock Exchange, according to CNBC. In Milan, shares closed at 4.28 euros, up 15.4%.
The automaker reported third-quarter revenues of 37.6 billion euros, up 1% from a year earlier. Adjusted operating income rose 184% to 256 million euros, from 90 million euros a year earlier. Industrial free cash flow improved to negative 4 billion euros, compared with negative 4.3 billion the year before.
Stellantis reconfirmed its 2026 guidance and its target of positive free cash flow in 2027. CEO Antonio Filosa told investors the company is ahead of schedule on its 60 billion euro turnaround plan, announced in May. He said Stellantis expects to exceed its previously announced cost-cutting goal of 6 billion euros by 2028, including 2.4 billion euros to start 2027.
"We are very confident in reaffirming our '26 guidance. Those include '27 free cash flow positive," Filosa said.
RBC Capital Markets analyst Tom Narayan wrote in an investor note that "Q3 was soft, but consensus expectations were far lower." He added that the maintained 2026 guidance stood out while other automakers and suppliers are cutting on elevated costs.
Shares remain sharply down since the start of the year, according to CNBC.