No Napoleon would mean no Peninsular War, and thus, no independence of Spanish American countries in 1810-1825. It would also mean no independent Brazil (in 1806 or 1807, the Brazilian Court fled to Brazil to escape from the French Army; this eventually led to its independence and to the creation of a Brazilian empire).
However, I think Spain would still have trouble to keep its empire toghether. Econnomically, it would be quite hard for her. And, with absolutists King as Carl IV or Ferdinand VII in power, revolutions would certainly arrise. This could lead to bitter wars in Latin America, which may lead to forgein intervention.
In any case, I think eventually Spanish would still loose most of its colonnies, unless a lucid monarch reforms its country econnomically and politically, and that,
at least, creoles, mestizos and peninsulars are given equal rights. (Which I don't find likely...). Would they eventually become independent countries, empoverished by decades-long wars? Or would they be colonies from other countries (France, Britain, Russia, the US)??? Or maybe both (depending o the territory)?
In any case, not a nice future for the region...
. I'm not saying it went particularly well IOTL, ... but I believe it would be much worse ITTL.