The all-new 2026 Jeep Cherokee Hybrid will be on display at the 2025 Los Angeles Auto Show at the Los Angeles Convention Center on November 23, 2025 in Los Angeles, California.
Josh Lefkowitz Getty Images News | Getty Images
Shares in auto giant Stellantis fell sharply on Thursday after the company said its adjusted operating profit nearly tripled in the first three months of this year, helped by improved sales in its key North American market.
The multinational conglomerate, which owns well-known companies such as Jeep, Dodge, Fiat, Chrysler and Peugeot, posted adjusted operating profit of 960 million euros ($1.12 billion) in the first quarter.
This comfortably beat the consensus of analysts surveyed by Reuters of 568 million euros and reflects a 194% increase from adjusted operating profit of 327 million euros in the same period last year.
Shares in the Milan-listed company fell as much as 10% in early morning trading before offsetting losses. The stock last fell about 6.1%.
This result marks the first time the company has started reporting quarterly profit data, which it had previously only published on a six-monthly basis.
Stellantis said first-quarter net revenue was 38.1 billion euros, up 6% from the same period in 2025. Net profit for the first quarter was 377 million euros, compared with a loss for the first three months of 2025 of 387 million euros.
“As we begin our quarterly reporting, the first three months of 2026 reflect the early results of our actions to return Stellantis to sustained and profitable growth,” Stellantis CEO Antonio Filosa said in a statement.
“The products we launched in 2025 have been well received and we are confident that the 10 new vehicles planned for 2026 will build on this momentum,” he added.
“Very dirty”
Citi analysts said Stellantis’ first-quarter results were “as expected, but very disruptive.”
“The positives are that the US and EU are both doing well, and the Middle East and South America continue to push up AOI (adjusted operating income),” Citi’s Harald Hendrikse said in a research note.
However, there are “significant volatility” in terms of provisions and tariffs, raising questions about the sustainability of AOI’s profitability in the region, Hendrickse said, noting that the company’s free cash flow remains negative.
“We expect there to be little change in the consensus forecast and a significant debate on the quality of earnings,” Hendrickse said.
