Posts Tagged ‘FCA financials’

Fiat Chrysler Doubles Profit in 2017

CEO Marchionne says company will be debt-free by end of Q2.

by on Jan.25, 2018

Sergio Marchionne said FCA will be debt-free by the end of the second quarter of this year.

Fiat Chrysler Automobiles N.V. profits nearly doubled in 2017 as a more profitable model mix helped overcome a sales decline in North America.

“We were the only leveraged automaker in the world. We no longer are leveraged,” said FCA Sergio Marchionne, who said the company plans to outline new four-year plant on June 1. FCA will not only be debt-free this year, it will also have 4 billion euros in cash reserves.

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“I’m really looking forward to 2018,” he said. “FCA is well positioned to be a top performer.” (more…)

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.

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“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 Endures Profit Drop Due to Fiat Takeover

Sales, shipments, US marketshare all rise in 2014.

by on Feb.03, 2015

Despite increasing its marketshare by a full point last year, the former Chrysler Group saw earnings decline.

Despite increases in shipments, sales, marketshare and revenue, FCA US, the former Chrysler Group, saw its overall profits drop substantially in 2014 due to the completion of Fiat’s takeover of Chrysler.

FCA US reported full-year net income of $1.2 billion compared with net income of $2.8 billion in 2013. The maker’s fourth quarter net income was $669 million, down about two-thirds from $1.6 billion during the same period last year.

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The company took a hit this year on $1.2 billion in “unfavorable infrequent items,” such as the costs associated with the Fiat takeover Chrysler. Conversely, last year’s results benefitted from $962 million related to the release of valuation allowances on deferred tax assets. (more…)