Stellantis posted a profitable first quarter of 2026, booking about $440 million in net profit after a tough 2025. The automaker reported $44.4 billion in total revenue, a jump of 6% compared with the same time period in 2025.
It’s a quick pivot for the automaker, which logged about $26 billion in losses at the end of the previous year, largely related to costs incurred from canceling electric vehicle programs. Brushing its shoulders off after the heavy loss, Stellantis said its new gains were driven by sales increases in North America, Europe and South America.
In North America, Stellantis said its sales increased 6% compared with the first quarter of 2025. Broken down by region, that comes from a 4% increase in sales in the United States, 15% in Canada and 19% in Mexico. Stellantis bucked an industry-wide trend of declining U.S. sales, which were down across the region by about 6% for other automakers.
According to a company release on April 30 of earnings data, sales in Europe jumped 5%, and sales in South America ticked up 1%. The gains in those regions were offset by declines in the Middle East and Africa region (down 4%) and Asia (down 4%).
The automaker also booked about $467 million in money it expects to get back in refunds for duties paid on International Emergency Economic Powers Act (IEEPA) tariffs. In February, the Trump administration’s implementation of those tariffs was ruled unconstitutional by the U.S. Supreme Court, leading to an ongoing refund process.
Despite sales increases in three of the five regions in which the company operates, North America was the only region that had a positive adjusted operating income (a term used to denote after removing one-time, abnormal charges). The tariff refunds contributed to that income.
Stellantis CEO Antonio Filosa said in a news release that the positive numbers show Stellantis may be getting back on track.
“The first three months of 2026 reflect the early results of our actions to return Stellantis to sustainable, profitable growth,” Filosa said, adding that the 10 new vehicles the brand has planned for release this year “will build on this momentum.”
The rest of the Detroit Three automakers also reported positive earnings for the first quarter of the year. Ford Motor Co.’s net income increased to $2.5 billion. General Motors reported a net income of $2.62 billion.
Tariff refunds give bump
Stellantis projected that about $467 million would return to the company after successfully completing the tariff refund transactions after the Supreme Court ruling on IEEPA tariffs.
Filosa, in a roundtable discussion with the news media, told the Detroit Free Press that the company has not yet secured those funds, but plans to do so soon. He added that, beneath the big boost in North American revenue, there are other points he sees as good indicators for the company’s performance in the region.
Filosa cited pricing discipline, a better mix of fewer electric vehicles and more internal combustion engines and product quality increases as other indicators of success, setting aside the tariff refunds.
All of those things, Filosa said, “will be recognized by the market in the next quarter.”
The boost in income coming from a large, one-time refund did not woo investors. In about six hours, Stellantis’ stock dipped 6.77% in the Milan Stock Exchange, which opened as the results were reported on Thursday morning.
Big changes coming soon
During a 40-minute session with the news media and an hourlong call with investors, Filosa continually dodged key questions about the future of the automaker’s massive portfolio.
Will Stellantis be keeping all of its 14 brands? Will it be investing in previously shunted brands like Maserati? Is the automaker exploring more partnerships with Chinese automakers, on top of the current agreement it has with Chinese manufacturer Leapmotor?
To most questions of that genre, Filosa declined to go in depth and pointed to May 21 as the company’s day to address the large-scale concerns over what some see as a bloated portfolio that has struggled to gain and hold market share.
The automaker will hold then its Investor Day, where it will lay out its new strategic plan to revitalize the company. The announcement will be held in Auburn Hills.
Rumors have emerged, first reported by Reuters, that the company plans to focus funding and development almost exclusively on four key brands: Jeep, Ram, Fiat and Peugeot. Reports indicated that Filosa does not plan to close or sell any of the company’s current portfolio. Instead, other brands will bear their respective nameplates but rely on technologies, powertrains and designs from the four core brands. The Free Press has not confirmed the Reuters report, which relied on anonymous sources.
Liam Rappleye covers Stellantis and the UAW for the Detroit Free Press. Contact him: LRappleye@freepress.com.
This article originally appeared on Detroit Free Press: Stellantis posts profit, growth across regions during start of 2026