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UPDATE: Net Profit Slips 3% for FCA US
Net earnings from Fiat Chrysler Automobile NV's U.S. operations dropped to $598 million in the second quarter from $619 million in April-June 2014.
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Net earnings from Fiat Chrysler Automobile NV's U.S. operations dropped to $598 million in the second quarter from $619 million in April-June 2014.
Profits were hurt by a $90 million charge related to FCA's recalls-related consent agreement with the U.S. government and a $71 million loss on extinguished debt. On an adjusted basis, net income rose 17% to $726 million.
Unit shipments by FCA US rose 7% to 780,000 vehicles. Quarterly deliveries also grew 7%, to 565,400 vehicles. A stronger mix of high-profit SUVs, crossovers and pickup trucks boosted revenue 11% to $22.6 billion.
FCA reported second-quarter earnings a week ago. It posts results for its U.S. unit separately to satisfy bondholder requirements.
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