Shares in Jeep maker Stellantis came under pressure Thursday after earnings missed expectations, despite early signs that the automaker's turnaround efforts are beginning to support sales.

Shares fell as much as 8.9% in early trade, with AlphaValue analyst Adrien Brasey noting that while second-quarter revenue is roughly in line with consensus, the company reported a sharp miss across every profit line.

Stellantis, which houses a sprawling stable of brands, reported net profit of 293 million euros ($336 million) from a loss of 1.87 billion euros a year prior, as revenue rose 13% to 43.48 billion euros.

Analysts in a FactSet poll had forecast net profit of 464 million euros on revenue of 42.83 billion euros.

Adjusted operating income landed at 773 million euros versus the 903 million euros FactSet estimate.

The company has pledged to focus the bulk of its investments on four key brands across Europe and the U.S., part of a new turnaround plan outlined earlier this year. Under the $70 billion revival plan, Jeep and Ram in the U.S. and Peugeot and Fiat in Europe will receive 70% of the group's product investments as it seeks to focus on the most attractive brands to accelerate growth.

The plan, known as FaSTLAne 2030, will see over 60 new vehicle launches and 50 model refreshes by the end of the decade. It comes as the group looks to recover from a difficult 2025 that saw uncertainty thrown up by U.S. trade tariffs, while a decision to dial back electric vehicle investments saw it book impairments totaling some $26 billion.

"With implementation of our FaSTLAne 2030 strategy well underway and this year's exciting new product launches on time and on track, we remain confident of delivering our 2026 financial guidance," Chief Executive Antonio Filosa said.

Overall deliveries in the second quarter rose 10%, driven by North America as the Jeep Grand Wagoneer, Ram 1500, Dodge Durango and Chrysler Pacifica all saw strong sales gains. The new model launches spurred a 32% rise in North America revenue, making the region the key contributor to the higher group revenue.

Stellantis still expects to report a mid-single-digit percent rise in revenue for the year with a low-single-digit percent adjusted operating margin. The margin in the second quarter came in at 1.8%, with all regions delivering positive results except the enlarged Europe region which booked a margin of minus 0.6%.

Stellantis said it expects its second-half performance to be weighted toward the fourth quarter, with the summer production shutdown and continued operational performance improvements weighing on the third quarter.

It expects a net tariff headwind of between 1 billion and 1.2 billion euros this year after booking net tariff costs of 300 million euros in the first six months of the year.