Dodge Nitro Forum banner

1 - 2 of 2 Posts

·
Super Moderator
Joined
·
23,327 Posts
Discussion Starter #1
FCA US Reports Preliminary First-Quarter 2015 Financial Results

May 7, 2015 , Auburn Hills, Mich. -


FCA US LLC reported its preliminary first-quarter 2015 financial results on May 7. The financial results are posted on the Company’s investor relations site. Click here to view the 8-K.



About FCA US LLC

FCA US LLC is a North American automaker with a new name and a long history. Headquartered in Auburn Hills, Michigan, FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. FCA US designs, engineers, manufactures and sells vehicles under the Chrysler, Jeep, Dodge, Ram and FIAT brands as well as the SRT performance vehicle designation. The company also distributes the Alfa Romeo 4C model and Mopar products. FCA US is building upon the historic foundations of Chrysler, the innovative American automaker first established by Walter P. Chrysler in 1925; and Fiat, founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli.

FCA, the seventh-largest automaker in the world based on total annual vehicle sales, is an international automotive group. FCA is listed on the New York Stock Exchange under the symbol “FCAU” and on the Mercato Telematico Azionario under the symbol “FCA.”
 

·
Super Moderator
Joined
·
23,327 Posts
Discussion Starter #2
$2.58 billion for the first quarter

Fiat Chrysler US swings to 1Q profit on big tax gain

05/07/2015


DETROIT (AP) — Fiat Chrysler Automobiles U.S., formerly Chrysler Group, posted a profit of $2.58 billion for the first quarter, getting a hefty lift from a one-time change in its tax status.

The company, now part of Fiat Chrysler Automobiles N.V., gained $2.3 billion from the tax change because it’s no longer classified as a partnership. Chrysler lost $690 million a year ago due largely to payment of debts to a union health care trust.

Without the one-time items, the company’s adjusted profit fell 36 percent to $312 million as increased shipments and price increases were offset by higher costs for materials and recalls.

First-quarter revenue for the U.S. operation rose nearly 10 percent to $20.88 billion, driven by new products such as the Jeep Cherokee and Renegade SUVs.

Fiat Chrysler’s U.S. unit reports earnings separately from its parent company even though the companies were merged into one last year. The Chrysler unit helped the parent company, which earned $101 million in the first quarter under international accounting standards.

Chrysler’s first-quarter worldwide sales rose 6 percent 661,000.

Chief Financial Officer Richard Palmer said it will spend about $3 billion in the next few days to redeem notes that are due in 2019, and it will consider redeeming notes due in 2021 starting early next year.

Shares of the parent company rose 50 cents, or 3.5 percent, to $14.83 on Thursday. They have traded from $8.54 to $17.08 in the past year.
SOURCE
 
1 - 2 of 2 Posts
Top