Stellantis returns to profit in Q2 as revenues rise 13%

Stellantis reported a return to profitability in the second quarter of 2026, with double-digit revenue growth, improved operating performance and positive free cash flow as the automotive group reaffirmed its full-year financial guidance.

The company generated net revenues of €43.5 billion during the quarter, up 13% from a year earlier, supported by strong growth in North America and continued contributions from other regions. Net profit reached €293 million, compared with a loss of €1.9 billion in the second quarter of 2025.

Adjusted operating income more than tripled to €773 million, delivering an adjusted operating income (AOI) margin of 1.8%, up from 0.6% a year earlier. Industrial free cash flow also improved significantly to €1.0 billion, representing a €1 billion year-on-year improvement despite cash outflows related to restructuring charges announced in the second half of 2025.

Industrial available liquidity stood at €44.1 billion at the end of the quarter, equivalent to 27% of trailing 12-month net revenues and within the group’s target range of 25% to 30%.

“We improved performance across our key financial metrics with Net revenues, AOI and Industrial free cash flows all showing significant gains. With implementation of our FaSTLAne 2030 strategy well underway and this year’s exciting new product launches on time and on track, we remain confident of delivering our 2026 financial guidance.”

For the first six months of 2026, Stellantis reported net revenues of €81.6 billion, up 10% year-on-year, while adjusted operating income rose 221% to €1.7 billion. Consolidated vehicle shipments increased 11% to almost three million units.

The company reaffirmed its full-year outlook, maintaining expectations for mid-single-digit revenue growth, a low-single-digit adjusted operating income margin and improved industrial free cash flow despite approximately €2 billion of cash payments linked to restructuring charges announced in the second half of 2025.

Stellantis also said net tariff-related costs are now expected to total between €1.0 billion and €1.2 billion during 2026. Around €300 million of net tariff costs were incurred during the first half of the year, including a €400 million refund under the US International Emergency Economic Powers Act (IEEPA).

The group expects second-half performance to be weighted towards the fourth quarter following planned summer production shutdowns and further operational improvements.

North America continued to be the standout performer, with revenues rising 32% year-on-year as sales increased 6%, marking the fourth consecutive quarter of growth. Stellantis outperformed the wider US automotive market, which declined by 0.3% during the quarter, with strong performances from the Jeep Grand Wagoneer, Ram 1500, Dodge Durango and Chrysler Pacifica. Regional market share increased to 7.4%.

In Europe, EU30 sales increased 3%, or 7% including Leapmotor, driven by the Smart Car range and the launch of the Fiat Grande Panda. Stellantis maintained its leadership in the European light commercial vehicle market with a 28.7% market share, while Leapmotor sales increased sixfold year-on-year. However, Enlarged Europe remained the only region to record a negative adjusted operating margin.

South America retained its position as Stellantis’ strongest regional market by share, with a 19.1% market share despite a slight decline in sales. The company remained the leading manufacturer in both Brazil and Argentina, while Ram continued to strengthen its presence in the Brazilian pick-up market.

In the Middle East and Africa, sales fell 6% amid challenging market conditions, but market share increased as Stellantis strengthened its leadership in the light commercial vehicle segment. Growth in Türkiye and record local production in Algeria helped offset weaker regional demand.

Asia Pacific remained challenging, with sales declining 29% year-on-year. However, June deliveries reached their highest level in six months, while Stellantis continued to expand its partnership with Leapmotor through local vehicle assembly in Malaysia and confirmed plans to launch the B10 during the third quarter. The company also announced a new partnership with Dongfeng Motor to develop and manufacture Peugeot and Jeep models in China.

The results mark another step in Stellantis’ recovery following a difficult 2025, with improving profitability, stronger cash generation and higher vehicle shipments providing momentum as the company continues to implement its long-term FaSTLAne 2030 strategy and invest in new products, electrification and software-defined vehicles.