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FCA Hikes Third-Quarter Net Earnings 50%
Strong sales in North America boosted third-quarter net earnings 50% to €910 million ($1.1 billion).
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Strong sales in North America boosted third-quarter net earnings 50% to €910 million ($1.1 billion).
Unfavorable exchange rates caused net revenue in July-September to dip 2% to €26.4 billion ($31.3 billion). Worldwide vehicle shipments were flat at 1.12 million vehicles, hampered by a 6% decline to 592,000 units in North America
FCA’s adjusted pretax earnings climbed 17% to €1.8 billion ($2.1 billion), buoyed by performance gains in all segments. Adjusted EBIT in the NAFTA region was unchanged at €1.29 billion ($1.5 billion). But it climbed 22% to €127 million ($151 million) in Europe and zoomed more than fourfold to €109 million ($129 million) in Asia.
The company’s net industrial debt in the third period grew by €179 million ($212 million) to €4.4 billion due to the effects of negative foreign exchange effects.
FCA affirms its targets for the full year: net revenue of €115 billion-€120 billion, adjusted EBIT greater than €7.0 billion, adjusted net profit greater than €3 billion and net industrial debt less than €2.5 billion.
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