FCA: reports 'strong' second-quarter results
(CercleFinance.com) - Fiat Chrysler Automobiles posted a higher quarterly profit on Wednesday, with the carmaker's 2019 outlook seeming to reassure investors, sending its shares up over 3%.
FCA said it recorded "strong" numbers and reported a 3% rise in Q2 net profit from continuing operations to 793 million euros, from 694 million euros a year ago.
At 1.5 billion euros, the group's adjusted EBIT was in line with last year's figure.
While net revenues fell by 3% to 26.7 billion euros, its North America division achieved record second-quarter results despite shipments being down 12%, on the back of dealer stock reductions.
In its statement, FCA said it plans to continue to focus on the underperforming areas of its business in the second half of the year, including Maserati, and said it remained confident in its ability to achieve its full-year 2019 guidance.
The Milan-listed shares of the Italo-American carmaker were up 3.5% after the report.
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FCA said it recorded "strong" numbers and reported a 3% rise in Q2 net profit from continuing operations to 793 million euros, from 694 million euros a year ago.
At 1.5 billion euros, the group's adjusted EBIT was in line with last year's figure.
While net revenues fell by 3% to 26.7 billion euros, its North America division achieved record second-quarter results despite shipments being down 12%, on the back of dealer stock reductions.
In its statement, FCA said it plans to continue to focus on the underperforming areas of its business in the second half of the year, including Maserati, and said it remained confident in its ability to achieve its full-year 2019 guidance.
The Milan-listed shares of the Italo-American carmaker were up 3.5% after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.