Automotive

Stellantis returns to profitability: net profit at 400 million

Market remains disappointed with US market performance, shares down - Financial guidance confirmed

by Matteo Meneghello

30 April 2026

Stellantis presenta i dati della prima timestrale 2026: il gruppo che riunisce Fiat, Peugeot e Jeep rivede la redditività

3' min read

Translated by AI

Versione italiana

3' min read

Translated by AI

Versione italiana

Stellantis returned to profitability in the first quarter of 2026 with a year-on-year improvement in all key financial indicators, but the share price falls on the stock market in the wake of disappointment over results in the key North American market. Filed under 2025, net profit improved to 400 million euro, thanks mainly to volume growth and stronger operating performance. Adjusted operating profit was EUR 1 billion, representing a margin of 2.5%, with most regions reporting positive results. Net revenues increased 6% to EUR 38.1 billion, supported by an improved performance in North America, with positive results in Wider Europe and the Middle East and Africa.

The estimated impact of US tariffs for 2026 has been reduced from EUR 1.6 billion to EUR 1.3 billion, thanks to a positive effect of about EUR 400 million related to the refunds expected after the rejection of the measures by the Supreme Court.

Financial guidance for 2026 confirmed: the company expects to improve net revenue, operating margin and industrial cash flow. Positive industrial cash generation is expected in 2027. For 2026, the forecast is for mid-single digit percentage revenue growth and a positive adjusted operating margin in the low single digits.

"The first three months of 2026 reflect the results of actions taken to put Stellantis back on a sustainable and profitable growth path," comments CEO Antonio Filosa. "The products launched in 2025 have been welcomed and we are confident that the ten new vehicles planned for 2026 will enable us to consolidate this momentum. Our priority," concludes the Stellantis CEO, "is clear: putting customers at the centre of everything we do and we look forward to sharing more details at our Investor Day on 21 May in Auburn Hills."

Following the publication of the results, Stellantis' shares recorded their steepest decline since last February. Under the lens was a lower-than-expected operating margin in the region for the first quarter, as well as the recognition of a one-off gain of around EUR 400 million related to expected future tariff reimbursements; an exceptional item that makes the announced return to profit less comforting.

It is worth mentioning that Stellantis has committed to investing USD 13 billion to accelerate in the US, a region that is crucial to the goals set by CEO Antonio Filosa in his attempt to make the group's operations profitable again.

Global deliveries rose 12% in the quarter ending March, led by a 17% jump in North America. The manufacturer sought to reinvigorate the Ram brand by reviving the powerful Hemi V-8 engine and returning to Nascar racing.

Net profit rose to EUR 377 million for the period, after a loss of EUR 387 million the previous year. In the enlarged Europe, net sales increased by 1 per cent in the period, although car deliveries jumped by 12 per cent. The company cited negative price pressure and strong competition in the region.Like its European competitors, Stellantis is under pressure from Chinese manufacturers expanding in Europe. However, Stellantis is also exploring agreements with manufacturers in the Asian country to address European overcapacity and secure access to technology. This includes plans for closer ties with existing partner Leapmotor and a possible relaunched alliance with Dongfeng Motor Corp.

Stellantis confirmed its full-year forecasts, which estimate low-single digit adjusted operating profit margins and improved industrial free cash flow.