Fiat Chrysler Automobiles (FCAU) Posts Q2 EPS of EUR0.45; Global Shipments Fell 1%

Fiat Chrysler Automobiles (NYSE: FCAU) reported Q2 EPS of EUR0.45, EUR0.05 worse than the analyst estimate of EUR0.50. Revenue for the quarter came in at EUR27.89 billion versus the consensus estimate of EUR31.77 billion.

• Worldwide consolidated shipments of 1,175 thousand units, down 1% driven by APAC due to transition to local Jeep production in China. Worldwide combined shipments (including JVs) were 1,233 thousand units, up 1%, LATAM reduction more than offset by EMEA increase
• Net revenues of €27.9 billion, down 2% (+1% at constant exchange rates, or CER)
• Adjusted EBIT increased 16% to €1,628 million, with EMEA more than doubled and improved margins for all regions and Components. EBIT decreased 14% to €1,060 million primarily due to charges for Takata airbag inflator recalls of €414 million
• Net industrial debt reduced by €1.1 billion from March 2016 due to strong cash generation from operations
• Market share in U.S. increased to 12.7%, up 30 bps, and in Europe to 6.8%, up 40 bps; remained market leader in Brazil with 17.8% market share
• Worldwide Jeep sales up 16% with increases in all regions

For earnings history and earnings-related data on Fiat Chrysler Automobiles (FCAU) click here.

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