FCA: outlook disappoints; shares fall
(CercleFinance.com) - On Thursday Fiat Chrysler Automobiles forecast 2019 earnings that are just slightly above last year's numbers, which has sent the carmaker's shares down over 10% today.
The company, whose brands include Jeep, Alfa-Romeo and Maserati, forecast full-year adjusted EBIT of more than 6.7 billion euros with a margin of over 6.1% - both of these are up relative to 2018.
However, the group's guidance is just slightly higher than the 6.7 billion euros adjusted EBIT and 6.1% margin that the group reported for 2018.
In its statement, FCA highlighted "record results" for 2018, despite trade and regulatory disruptions.
Its net revenues rose by 4% to 115.4 billion euros in the past year, with net profit up 3% at 3.6 billion euros.
Yet, investors seemed to primarily focus on the cautious guidance provided by the Italian-American group. The FCA stock listed in Milan was down 10.9% in early afternoon trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company, whose brands include Jeep, Alfa-Romeo and Maserati, forecast full-year adjusted EBIT of more than 6.7 billion euros with a margin of over 6.1% - both of these are up relative to 2018.
However, the group's guidance is just slightly higher than the 6.7 billion euros adjusted EBIT and 6.1% margin that the group reported for 2018.
In its statement, FCA highlighted "record results" for 2018, despite trade and regulatory disruptions.
Its net revenues rose by 4% to 115.4 billion euros in the past year, with net profit up 3% at 3.6 billion euros.
Yet, investors seemed to primarily focus on the cautious guidance provided by the Italian-American group. The FCA stock listed in Milan was down 10.9% in early afternoon trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.