Fiat Chrysler beats expectations for first-quarter earnings
Thomson Reuters
FCA "reported a better-than-expected 11 percent rise in first-quarter adjusted operating profit, helped by improvements in all regions but Latin America, pushing shares up more than 3 percent," Reuters reported on Wednesday.
According to Reuters, "adjusted earnings before interest and tax (EBIT) for the January-March period rose to 1.54 billion euros ($1.68 billion), above a 1.4 billion euros consensus in a Thomson Reuters poll," and "[r]evenues were up 4 percent to 27.72 billion euros, slightly above forecasts."
In a statement, FCA called the first-quarter results a "record."
The North American market was FCA's best performer, by a wide margin. The carmaker's mix of pickup trucks and SUVs has benefitted from a US sales boom and relatively cheap gas. Most analysts expect the US sales pace to run at or near a 17-million level for 2017.
FCA lost a bit of market share in the US, slipping to 12.5% as it backs away from passenger-car production to focus on its more profitable Jeep brand.
FCA shares were trading up almost 4% in pre-market action on Wednesday, to $11.
Markets Insider
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market