Stellantis Reports Q1 2026 Financial ResultsReturn to ProfitabilityYear-over-Year Improvement Across All Key Financial Metrics
Net revenues increased to €38.1 billion, up 6% versus Q1 2025, supported by volume growth across all regions, with North America the primary contributor
Net profit improved to €0.4 billion reflecting higher volumes and stronger operating performance
Adjusted operating income(1) reached €1.0 billion, with AOI margin(2) of 2.5% and most regions positive
Industrial free cash flows(3) were negative €1.9 billion, reflecting typical first-quarter seasonality, and representing a 37% improvement versus Q1 2025, despite approximately €0.7 billion of cash outflows related to H2 2025 charges
Industrial available liquidity(4) ended at €44.1 billion, representing 28% of trailing 12-month Net revenues and remaining within the Company's targeted 25-30% liquidity range
Hybrid perpetual notes issued in March 2026 for a total of €5 billion
2026 Financial Guidance Confirmed. Company expects to improve Net revenues, AOI margin(2) and Industrial free cash flows(3) in 2026
"As we initiate quarterly reporting, the first three months of 2026 reflect the early results of our actions to return Stellantis to sustainable, profitable growth. The products we launched in 2025 have been well received and we're confident that the 10 new vehicles planned for 2026 will build on this momentum. Our priority is clear: to put our customers back at the center of everything we do and we look forward to sharing more on this at our Investor Day on May 21 in Auburn Hills."Antonio Filosa, CEO
Citroën C5 Aircross
€ million / units thousands
Q1 2026
Q1 2025
Change
FY 2026 FINANCIAL GUIDANCE Net revenues: Mid-Single Digit % Increase AOI margin(2): Low-Single Digit % Industrial free cash flows(3): Improved Y-o-Y (incl. ~€2B in cash payments related to H2 '25 charges) Expect positive Industrial free cash flows(4) in 2027
IFRS
Net revenues
38,132
35,813
+6%
Net profit/(loss)
377
(387)
n.m
Diluted EPS
0.14
(0.13)
n.m
Cash flows from/(used in) operating activities
(2,718)
(2,846)
+4%
NON - GAAP
Adjusted operating income/(loss)(1)
960
327
+194%
Adjusted operating income margin(2)
2.5%
0.9%
160 bps
Adjusted diluted EPS(5)
0.21
0.04
n.m
Industrial free cash flows(3)
(1,921)
(3,036)
+37%
Consolidated shipments(6)
1,361
1,217
+12%
Combined shipments(6)
1,365
1,233
+11%
________________________________________________________________________________________________________________________________________
All reported data is unaudited. Reference should be made to the section "Safe Harbor Statement" included elsewhere within this documentn.m - not meaningful
AMSTERDAM, April 30, 2026, Stellantis N.V. ("Stellantis") reported Q1 2026 financial results that demonstrate year-over-year improvement across key financial metrics. Net revenues increased 6% year-over-year to €38.1 billion, supported by improved performance in North America, as well as gains in Enlarged Europe and Middle East & Africa. Net profit improved to €0.4 billion, primarily reflecting volume growth and stronger operating performance.
Adjusted operating income(1) was €1.0 billion, representing an AOI margin(2) of 2.5%, with most regions delivering positive results.
During Q1 2026, the Company further strengthened its balance sheet through the issuance of three tranches of hybrid perpetual notes totaling €5 billion, reinforcing liquidity and capital flexibility.
Operationally, Q1 2026 showed encouraging early signs of progress. Stellantis accelerated actions to improve industrial execution and support sustainable, profitable growth, including addressing key manufacturing and quality issues and closing execution gaps. A strong customer response to 2025 product launches, combined with the planned launch of 10 new and 6 refreshed vehicles in 2026, is expected to further strengthen momentum.
With a strong balance sheet and improving fundamentals, Stellantis started 2026 on a firm footing. Consistent with this stronger financial performance, the Company confirmed its 2026 financial guidance.
Regional results for the quarter reflected positive momentum across key markets.
North America: Sales increased 6% versus Q1 2025, with growth of 4% in the U.S., 15% in Canada and 19% in Mexico. Stellantis outperformed a declining U.S. industry trend which was down 6% in Q1 2026 and was the fastest-growing automaker in the region. Market share rose to 7.9%, up 80 basis points year-over-year, driven by Ram, whose U.S. sales increased approximately 20% year-over-year, the highest Q1 since 2023 and the fastest growing brand in North America. Jeep also drove improvement with the all-new Jeep® Cherokee, refreshed Jeep® Grand Cherokee, Jeep® Grand Wagoneer and new Dodge Charger SIXPACK now available in dealer showrooms across the U.S., offering customers greater freedom of choice in the region's largest market.
Enlarged Europe: Sales increased 5% and, including Leapmotor(7), increased 8% versus Q1 2025, driven primarily by Italy, Germany and Spain. Stellantis outperformed the industry's modest growth in the quarter. EU30 Market share reached 17.5%, up 20 basis points year-over-year and, including Leapmotor(7), 18.1%, up 70 basis points. Growth was supported by a diversified portfolio across BEV, hybrid and ICE powertrains, including the launch of the Fiat Grande Panda ICE on the Smart Car platform. The C-SUV portfolio continues to strengthen, supported by Citroën C5 Aircross and Jeep® Compass. Stellantis reaffirmed its leadership in the EU30 LCV segment, achieving a 28.7% market share. Leapmotor continued to build commercial momentum across Europe and emerged as the leading BEV brand in Italy.
South America: Sales increased 1% and, including Leapmotor(7), increased 2% versus Q1 2025. Despite a market share decrease of 270 basis points year-over-year, Stellantis maintained its regional leadership with a 21.1% market share, confirming its #1 positions in Brazil, with 28.9% market share and Argentina, with 28.9%. Key launches during the quarter included the all-new Ram Dakota, Jeep® Renegade MCA, Jeep® Commander MHEV and Leapmotor B10. Stellantis also confirmed its leadership in the LCV segment, achieving a 33.8% market share.
Middle East & Africa: Sales remained stable despite a declining industry trend, down 4% year-over-year. Stellantis market share increased to 11.5%, up 50 basis points year-over-year, driven by 18% year-over-year sales growth in Algeria, where we hold the number one position there, as well as in Türkiye. Key product launches during the quarter included Jeep® Compass and the refreshed Peugeot 408 in Türkiye, as well as the Citroën Basalt in South Africa.
Asia Pacific: Sales declined 4% and, including Leapmotor(7), decreased 2% versus Q1 2025, reflecting a weaker industry environment. Notably, India delivered a 71% sales increase during the quarter, fueled by Citroën's refreshed line-up.
Upcoming Events
Q1 2026 Results Management Call - April 30, 2026, at 2:00 p.m. CEST / 8:00 a.m. EDT. The webcast and recorded replay will be accessible under the Investors section of the Stellantis corporate website (www.stellantis.com).
Stellantis Investor Day - May 21, 2026, Auburn Hills, Michigan & virtually through webcast. Registration is now open.
About StellantisStellantis N.V. (NYSE:STLA, PARIS:STLAP) is a leading global automaker, dedicated to giving its customers the freedom to choose the way they move, embracing the latest technologies and creating value for all its stakeholders. Its unique portfolio of iconic and innovative brands includes Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. For more information, visit https://www.stellantis.com.
SEGMENT PERFORMANCE*
NORTH AMERICA
ENLARGED EUROPE
€ million, except as otherwise stated
Q1 2026
Q1 2025
Change
€ million, except as otherwise stated
Q1 2026
Q1 2025
Change
Shipments (000s)
379
325
+54
Shipments (000s)
637
568
+69
Net revenues
16,114
14,469
+1,645
Net revenues
14,375
14,170
+205
AOI
263
(542)
+805
AOI
8
292
(284)
AOI margin
1.6%
(3.7)%
+530
bps
AOI margin
0.1%
2.1%
(200)
bps
Shipments increased 17%, reflecting improved commercial momentum, supported by Ram 1500 HEMI® V-8, the refreshed Jeep® Grand Wagoneer and the all-new Jeep® Cherokee
Net revenues increased 11%, driven by higher volumes, improved mix and positive net pricing, partially offset by unfavorable foreign exchange impacts
Adjusted operating income/(loss) improved by €805 million, returning to positive territory at €263 million. The improvement was primarily driven by higher volumes, favorable mix, positive net pricing and improved industrial costs. Tariff impacts were broadly neutral year-over-year, with IEEPA tariff cost adjustment of approx. €0.4 billion offsetting Q1 2026 tariffs costs
Shipments increased 12%, primarily driven by higher volumes of Citroën C3 and C3 Aircross, Opel/Vauxhall Frontera and Fiat Grande Panda and Leapmotor-branded vehicles, notably the T03
Net revenues increased 1%, supported by higher volumes, largely offset by negative net pricing and unfavorable mix
Adjusted operating income/(loss) declined €284 million driven by negative net pricing, unfavorable mix and higher SG&A to support sales growth, partly offset by increased volumes and improved industrial costs
MIDDLE EAST & AFRICA
SOUTH AMERICA
€ million, except as otherwise stated
Q1 2026
Q1 2025
Change
€ million, except as otherwise stated
Q1 2026
Q1 2025
Change
Combined shipments(6) (000s)
115
116
(1)
Shipments (000s)
219
211
+8
Consolidated shipments(6) (000s)
111
100
+11
Net revenues
3,623
3,679
(56)
Net revenues
2,388
2,288
+100
AOI
393
407
(14)
AOI
282
376
(94)
AOI margin
10.8%
11.1%
(30)
bps
AOI margin
11.8%
16.4%
(460)
bps
Consolidated shipments increased 11%, primarily driven by higher volumes in Türkiye, with additional contributions from Morocco and Algeria
Net revenues increased 4%, supported by higher volumes and positive net pricing, partially offset by unfavorable foreign exchange translation effects from the Turkish lira
Adjusted operating income/(loss) declined by €94 million, primarily due to unfavorable foreign exchange effects related to Turkish Lira devaluation, partially offset by higher volume and positive net pricing
Shipments increased 4%, driven primarily by higher volumes in Brazil, partially offset by lower volumes in Argentina and Chile
Net revenues declined 2%, as higher shipments were more than offset by unfavorable mix and negative foreign exchange translation effects
Adjusted operating income/(loss) declined by €14 million, mainly reflecting negative mix and higher costs, partially offset by higher volumes and favorable foreign exchange transaction effects
ASIA PACIFIC
€ million, except as otherwise stated
Q1 2026
Q1 2025
Change
Shipments (000s)
15
13
+2
Net revenues
435
486
(51)
AOI
(30)
(20)
(10)
AOI margin
(6.9)%
(4.1)%
(280)
bps
Shipments increased 15%, primarily driven by higher volumes of refreshed Citroën models in India
Net revenues declined 10%, driven by unfavorable mix, negative net pricing and foreign exchange headwinds more than offsetting higher volumes
Adjusted operating income/(loss) declined €10 million, primarily due to unfavorable mix and negative net pricing more than offsetting higher volumes
(*) Effective January 2026, the Company's segment structure was updated to align with how the Chief Operating Decision Maker ("CODM") reviews performance and allocates resources. Under the revised structure, the CODM reviews the business through the following operating and reportable segments: North America; Enlarged Europe; Middle East & Africa; South America; and Asia Pacific. Refer to Note 8 for additional information.
Reconciliations
Net revenues from external customers to Net ...
