Fiat Chrysler's third-quarter operating profit exceeds expectations
Thu, Oct 31 2019
MILAN — Fiat Chrysler on Thursday posted higher than expected operating earnings in the third quarter, lifted by record profitability in North America, as the carmaker heads to a merger with French rival PSA.
The strong results led Fiat Chrysler (FCA) to reiterate its full-year guidance of adjusted earnings before interest and tax (EBIT) over 6.7 billion euros ($7.5 billion). It also expects a further improvement of its financial performance in 2020.
FCA and PSA said earlier on Thursday they planned to join forces through a 50-50 share swap to create the worldÂ’s fourth-largest automaker, triggering a new wave of consolidation in the car industry.
By Reuters
See also: Fiat Chrysler, Peugeot announce merger as world's No. 4 carmaker, Fiat Chrysler, Peugeot announce merger as world's No. 4 carmaker, 4 ways FCA-PSA merger could be a plus.