Exterior of Carvana’s new franchised vehicle location in Dallas, Texas.
Michael Wayland / CNBC
Shares of Stellantis were up Wednesday as the European car giant’s third-quarter results showed it was making progress with its 60 billion euro turnaround plan.
Third-quarter revenues rose 1% to 37.6 billion euros from a year ago, the Chrysler and Jeep owner said on Wednesday, while adjusted operating income rose 184% to 256 million euros from 90 million euros a year earlier.
The automaker’s industrial free cash flow improved to negative 4 billion euros, up from negative 4.3 billion the year prior.
Stellantis on Wednesday also reconfirmed its 2026 guidance and target to achieve positive free cash flow next year, which is a main focus for investors.
“Q3 was soft, but consensus expectations were far lower. Key here is that ’26 Guidance was maintained while other auto OEMs and suppliers are cutting on elevated costs,” RBC Capital Markets analyst…
