Stellantis returns to profit in the second quarter of 2026

After returning to profit at the start of the year, Stellantis confirmed its recovery in the second quarter of 2026. From April to June, the automotive group reported net profit of €293 million, reversing the €1.87 billion loss recorded during the same period in 2025.

This may not be an outstanding result for a manufacturer of this size, but it represents another move in the right direction. It is especially notable given the backdrop of trade tariffs, higher raw-material prices, pricing pressure in Europe and the costs of recall campaigns.

Higher revenue, but a still-narrow margin

Stellantis net revenue reached €43.5 billion in the second quarter, up 13% from the €38.4 billion generated a year earlier.

Adjusted operating profit rose from €213 million to €773 million, representing an increase of 263%. As a result, the adjusted operating margin improved from 0.6% to 1.8%.

Although this is meaningful progress, the margin remains well below the double-digit levels Stellantis has achieved in the past. Nevertheless, every region ended the quarter with a positive operating result, apart from Enlarged Europe.

North America drives Stellantis forward again

The main force behind this recovery came from across the Atlantic. Stellantis revenue in North America climbed 32% to €18.2 billion, alongside a 38% rise in vehicle deliveries.

The region moved from an adjusted operating loss of €440 million to a positive result of €284 million. New products, improved operational efficiency and lower regulatory charges all contributed to the turnaround.

Models including the Ram 1500, which has regained the HEMI V8 engine, the Jeep Grand Wagoneer, the hybrid Jeep Cherokee and the Chrysler Pacifica were among the key drivers of growth. Stellantis sales in the United States rose 6% in a market that declined slightly.

The picture in Europe was less encouraging. Deliveries increased by 5%, supported by the FIAT 500 and Grande Panda, Citroën C3 Aircross, Opel Frontera, Jeep Compass and Leapmotor models. However, revenue was virtually unchanged at €16.4 billion because of pricing pressure.

The region remained loss-making, reporting an adjusted operating loss of €94 million. Even so, this was an improvement on the €359 million lost in the second quarter of 2025.

First half is already back in profit

Across the first two quarters, Stellantis generated revenue of €81.6 billion, 10% more than in the first half of 2025.

Cumulative net profit reached €670 million, compared with a €2.26 billion loss a year earlier. Adjusted operating profit more than tripled to €1.73 billion, while the margin rose from 0.7% to 2.1%.

In the first quarter, Stellantis had already posted net profit of €377 million on revenue of €38.1 billion.

The second half will not be straightforward

Stellantis maintained its 2026 guidance, forecasting revenue growth of close to 5%, an adjusted operating margin of around 1% to 3%, and an improvement in industrial free cash flow compared with 2025.

However, it expects trade tariffs to have a net impact of between €1 billion and €1.2 billion over the full year. In the first half, the cost stood at €300 million, after a €400 million reimbursement linked to tariffs imposed in the United States.

Raw-material inflation, the cost of recall campaigns in North America and pressure from Chinese rivals in Europe will continue to weigh on the business. In addition, the third quarter will be affected by the usual summer production shutdowns, meaning Stellantis will concentrate a significant part of its recovery in the final three months of the year.