Stellantis N.V. (NYSE: STLA) had a good Wednesday. The automaker reported higher third-quarter 2026 revenue and a narrower adjusted loss per share, reaffirmed its full-year outlook, and watched its stock jump 13.67% to $4.70 by the time of publication.

Revenue rose 1% year over year to 37.6 billion euros ($43.285 billion). The adjusted loss narrowed to 1 euro cent per share from 4 euro cents a year earlier. In U.S. dollar terms, the adjusted loss was 1 cent per share.

The regional picture was mixed. Growth in North America and Enlarged Europe helped offset weaker sales in South America, the Middle East and Africa, and Asia Pacific.

North America and Europe Drive Growth

North American sales rose 1% year over year. U.S. and Canadian sales each slipped 0.3%, while Mexican sales jumped 24%, or 28% including Leapmotor.

Ram 1500 sales surged 73%, while Dodge Durango and Chrysler Pacifica sales increased 14% and 6%, respectively. Overall Ram sales climbed 30%, making it the region's fastest-growing brand based on market share gains.

In Enlarged Europe, EU30 sales rose 1%, or 6% including Leapmotor. Passenger-car battery electric vehicle sales jumped 65%, or 93% including Leapmotor. Electric commercial vehicle sales increased 46%.

Stellantis held a 14.8% regional market share, down 60 basis points. Including Leapmotor, its share reached 15.6%, down 10 basis points. The company maintained its leadership in light commercial vehicles with a 26.9% market share, despite a 110-basis-point decline. Leapmotor sales nearly quadrupled.

South America and Other Markets Face Pressure

South American sales fell 4%, or 2% including Leapmotor. Still, Stellantis maintained its regional leadership with an 18.6% market share. It also remained the market leader in Brazil and Argentina, with shares of 25.1% and 25.3%, respectively.

Fiat Strada sales rose 13%, while Toro and Pulse sales increased 26% and 20%, respectively. Ram sales climbed 33%, supported by the new Dakota.

In the Middle East and Africa, sales dropped 22%, compared with an 11% decline across the regional industry. Market share fell 150 basis points to 10.1%. However, Stellantis ranked second in light commercial vehicles with a 21.8% share, up 240 basis points. Weakness in Türkiye and the transition from Fiat Egea to the upcoming Fiat Grizzly weighed on performance.

Asia Pacific sales declined 27%, or 22% including Leapmotor, primarily due to weaker Citroën C5X sales. Meanwhile, production of the Leapmotor C10 and B10 began in Malaysia.

Stellantis Reaffirms 2026 Outlook

Stellantis reaffirmed its full-year forecast, calling for mid-single-digit revenue growth, a low-single-digit adjusted operating margin and improved industrial free cash flow. The automaker also expects to generate positive industrial free cash flow in 2027. Management expects capital expenditures and research and development spending to account for approximately 6.5% of net revenue in 2026.

CEO Antonio Filosa warned of significant inflation in raw materials and memory chips, highlighting the importance of pricing adjustments across the automotive industry.

Management also expects to exceed its initial 2.4 billion euro cost-savings goal for 2027. Filosa said the automaker expects its cost-cutting efforts to accelerate in the fourth quarter and through 2027.

"The way we are seeing today VCP in the company, we can foresee that we will multiply result in Q4, and then keep growing and accelerating in 2027 and forward," Filosa said during the earnings call.

Pricing, Production and Cash Flow Priorities

Stellantis said it has stabilized net pricing in Europe and expects further improvements in the coming quarters. The company also called for timely regulatory action on CO₂ flexibility and the "Made in Europe" framework to support fair competition.

Meanwhile, its Dongfeng joint venture plans to develop two new Jeep models and two Peugeot models for export beyond China.

In the U.S., Stellantis aims to maintain dealer inventories between 320,000 and 350,000 vehicles by year-end. Its outlook assumes no Canadian production disruptions during labor negotiations with Unifor.

STLA Stock Price Activity

STLA Price Action: Stellantis shares were up 13.67% at $4.70 at the time of publication on Wednesday.