Detroit Bureau on Twitter

Posts Tagged ‘Fiat Chrysler Automobiles earnings’

Debt Rises, But Fiat Chrysler Earnings Exceed Expectations

After temporary layoffs, CEO Marchionne sees rise in US employment.

by on Apr.26, 2016

FCA CEO Sergio Marchionne reported the automaker made $539 million last quarter, but that the maker's debt level has risen.

Fiat Chrysler Automobiles posted better than expected earnings on Tuesday, largely as a result of strong pickup and SUV sales in North America. But rising debt has nervous investors quickly driving down the maker’s share price.

For his part, CEO Sergio Marchionne tried to buoy confidence in the trans-Atlantic automaker by forecasting an increase in production once temporary cutbacks at two U.S. plants are completed. Shifting capacity more towards the booming truck side of the market, Marchionne said he expects to see an increase in North American factory employment.

News Now!

“I confirm now that the realigning of the footprint of NAFTA is going to yield an increase of manpower, subject to temporary layoffs,” Marchionne said during a conference call with analysts and reporters. (more…)

FCA Turns Q1 Profit, Grows Revenue

Maker improves margins in North America, Europe.

by on Apr.29, 2015

FCA reported a $101.2 million Q1 profit today. Additionally, the maker improved its margins in North America and Europe.

Despite a currency shift that hurt the company bottom line, Fiat Chrysler Automobiles earned a profit of $101.2 million (92 million euros) during the first quarter as revenue grew by 19% and margins improved in both North America and Europe.

FCA earned a profit for the second straight quarter in Europe where it has struggled for several years and made more money in North America, but said its losses in South America deepened.

Subscribe for Free!

The company’s profit for the first quarter of this year was an improvement over the $190 million loss that the automaker recorded last year after it recorded a $672-million charge to cover the cost of purchasing shares of Chrysler previously held by the UAW Retiree Medical Benefits Trust. (more…)