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Posts Tagged ‘FCA Q1 earnings’

FCA Beats Quarterly Earnings Expectations

Company overcomes slow start in North America

by on Apr.26, 2017

FCA CEO Sergio Marchionne touted the company's improved margins. He also suggested the company may add more autonomous tech suppliers.

Fiat Chrysler Automobiles N.V. delivered better-than-expected financials results for the first quarter of the year, including an 11% jump in adjusted earnings to 1.54 billion euros, slightly higher than the predicted 1.4 billion euros.

The company beat expectations despite a slow start to the year in North America where FCA has pulled back on sales to rental fleets and started remodeling manufacturing plants to build more trucks and sport utility vehicles.

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Sergio Marchionne, FCA chief executive, noted the entire company’s margins were up 30 basis points to 5.5% and despite the ongoing changes in North America, the NAFTA region climbed to 7.3% thanks to strong sales of Jeeps and sport-utility vehicles.   (more…)

FCA Reports 12% Increase in Q1 Revenue

Fiat posts net loss due to $5B VEBA buyout.

by on May.06, 2014

FCA reported a portion of its combined first quarter financial results today.

FCA reported a 12% increase in revenue in the first quarter of 2014 as it reported a trading profit of $800 million on revenue totaling $29.2 billion.

The automaker, however, reported a net loss of $400 million after special items, involving the buyout of the UAW VEBA’s stake, which wound up costing Fiat close to $5 billion. Fiat specifically lost $449 million, compared with a loss of $111 million in the same quarter in 2013.

Beyond the Headlines!

Richard Palmer, FCA’s chief financial officer, said Chrysler pre-paid everything outstanding under the VEBA Trust note by securing a new credit facility and selling senior notes. Chrysler Group, which has helped prop up its Italian partner over the past couple of years, is expected to release a separate financial report sometime next week. (more…)