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Fiat Chrysler 4Q Net Profit Grew 35%, Backs Outlook


Provided by Dow Jones

Feb 6, 2020 7:33 AM EST

By Carlo Martuscelli


Fiat Chrysler Automobiles NV (FCAU) on Thursday reported a 35% increase in net profit for the fourth quarter of 2019 and backed its outlook for the year ahead.
The Italian-American car maker made a net profit 1.58 billion euros ($1.74 billion) in the period compared with a EUR1.17 billion profit for the same period a year earlier. Revenue climbed 1% to EUR29.64 billion, it said.
Adjusted earnings before interest and taxes rose by 16% to EUR2.12 billion, it said.
The company backed its 2020 outlook and said it continues to expect to report an adjusted EBIT of more than EUR7 billion and earnings per share of at least EUR2.80. The company expects to end 2020 with more than EUR2 billion in free cash flow.

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