MILAN, April 30 - Stellantis said on Thursday that its adjusted operating income nearly tripled in the first quarter of the year, driven by sales growth across multiple regions and a tariff-related accounting benefit. Adjusted earnings before interest and taxes (EBIT) for the January-March period came in at 960 million euros, compared with an analyst consensus of 568 million euros.
The automaker noted that adjusted EBIT a year earlier for the same quarter had been 327 million euros. Management also highlighted that vehicle sales rose in all regions, with the strongest contribution coming from its key North American market.
Stellantis recorded a positive effect of around 400 million euros in the quarter stemming from a cost adjustment related to U.S. IEEPA tariffs. The company said that figure is based on expected refunds. The exchange rate used in reporting was $1 = 0.8576 euros.
This quarter is the first time Stellantis has disclosed quarterly profit data since the group's creation in early 2021 through the merger of Fiat Chrysler and Peugeot maker PSA. Prior to this reporting change, the company had released profit figures on a six-monthly basis.
The combination of stronger vehicle sales across regions and the tariff-related adjustment helped lift adjusted operating profits well above the consensus forecast. The company did not provide additional forward guidance in the quarter statement.
Key financial figures:
- Adjusted EBIT, Q1: 960 million euros
- Analyst consensus: 568 million euros
- Adjusted EBIT, Q1 last year: 327 million euros
- Tariff-related positive impact: ~400 million euros (based on expected refunds)
- Exchange rate: $1 = 0.8576 euros
The results reflect a reporting shift to quarterly profit disclosures for the first time since the company's formation in early 2021 following the merger of Fiat Chrysler and PSA. The firm emphasized regional sales momentum, particularly in North America, as a material contributor to the uptick in adjusted operating income.
Beyond the headline numbers, the company’s account of a tariff-related cost adjustment tied to expected refunds is a notable component of the quarter’s improvement. That adjustment contributed roughly 400 million euros to adjusted operating income for the period.
Stellantis’ move to publish quarterly profit data provides investors with more frequent insight into the operating performance of the combined group compared with the previous six-month cadence. The company did not disclose additional operational metrics in this announcement.