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Posts Tagged ‘fca profit’

Fiat Chrysler Earnings Near $2b for 2016

Company says it will boost profit-sharing for hourly workers by 25%.

by on Jan.26, 2017

Despite weak sales of the now-cancelled Chrysler 200, FCA earnings surged for 2016.

Detroit’s smallest automaker closed the books on 2016 on a high note, delivering full-year earnings of $1.92 billion, after only marginally squeezing into the black the year before.

The turnaround should be good news to both Fiat Chrysler Automobiles investors and workers. The Euro-American automaker said it will nearly halve its net debt in the coming year. It also announced it would boost profit-sharing for U.S. hourly workers by 25%.

By the Numbers!

Net profits for all of 2016 jumped to 1.81 billion euros, or $1.92 billion, for FCA, which is officially registered in Amsterdam but operates one of its primary headquarters in the Detroit suburb of Auburn Hills. That compares with a meager 93 million Euro profit for all of 2015.

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FCA Earnings Increase Overwhelmed by Sales Reporting Scandal

Maker says profit rose 25% for second quarter.

by on Jul.27, 2016

FCA CEO Sergio Marchionne has reason to celebrate Q2 - albeit cautiously.

Fiat Chrysler Automobiles reported a 25% year-over-year increase in profits for the second quarter, despite hefty recall costs, thanks to strong demand in North America and Europe. That has led the maker to up its guidance for all of 2016.

But recalls aren’t the only problems the maker is dealing with. The trans-Atlantic automaker yesterday acknowledged misreporting its sales numbers in recent years, a problem that has reportedly led to a grand jury investigation. The problem could lead to closer scrutiny by industry analysts and investors.

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“Overall we had a good quarter,” Fiat Chrysler Chief Financial Officer Richard Palmer said during a conference call with analysts and reporters.

FCA earned 321 million euros, or $352 million, for the second quarter, a 25% jump from last year’s 257 million euros, or $282 million.

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Fiat Chrysler Latest to Beat Expectations With Q2 Earnings

Net income up despite hefty consent agreement charge.

by on Jul.30, 2015

FCA is in "execution mode," says Marchionne.

Fiat Chrysler Automobiles may have begun the third quarter on a sour note, slammed with a record fine for safety lapses, but it ended the second-quarter in fine tune, handily exceeding Wall Street earnings forecasts.

The company, officially registered in the Netherlands, earned a profit of 333 million Euros, or $364 million, even after a chargeback of $88.5 million as a result of the consent order formally announced last weekend. A year ago, FCA earned 197 million Euros, or $215 million, for the period. On a per-share basis, the maker reported earnings of $0.21 between April-June 2015, analysts surveyed by MarketWatch predicting the figure would come in around 19 cents.

News You Can Trust!

As has been the case for several years, the recovering Chrysler side of the business helped prop up the balance sheet, primarily due to strong demand – and rising prices – in North America. But FCA also saw improvements in a European market just rebounding after a long and deep recession.

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Chrysler Acquisition Hammers FCA Earnings

But U.S. operations also drove revenue growth.

by on Jan.28, 2015

FCA Chief Executive Sergio Marchionne's acquisition of Chrysler carried a high cost last year.

When it comes to the American half of its newly merged company, investors will have to decide whether the glass is half empty for Fiat Chrysler Automobiles.

That’s because the cost of completing the acquisition of suburban Detroit-based Chrysler bludgeoned the trans-Atlantic maker’s earnings. But the Chrysler side also delivered a healthy 11% increase in FCA’s overall revenues.

By the Numbers!

Legally headquartered in the Netherlands, Fiat Chrysler is reporting that its 2014 net profit fell by two-thirds, to 632 million Euros, or $718 million. For 2013, the maker had a restated net of 1.9 billion Euros. For the final quarter of 2014, the maker earned 420 million Euros, down from 1.2 billion during the same period in 2013.

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Fiat Chrysler Earnings Hold Steady as Maker Prepares to Spin Off Ferrari

Investors quickly warm to news.

by on Oct.29, 2014

Sergio Marchionne may have reason to smile as investors finally begin bidding up FCA stock.

Now officially merged, Fiat Chrysler Automobiles said its third-quarter earnings were roughly in line with last year’s numbers.

Though that was essentially what analysts had anticipated, the automaker delivered a surprise by announcing it will spin off its iconic Ferrari brand – just months after CEO Sergio Marchionne appeared to indicate such a move wasn’t in the works.

You've Earned It!

The decision “will preserve the cherished Italian heritage” of Ferrari, said a statement from FCA Chairman John Elkann. Ferrari has been facing a fair bit of turmoil lately after the ouster of its long-time chief executive and its unexpectedly poor performance in the popular Formula One racing series.

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