Fiat Chrysler's 2Q Disappoints, Reduces 2018 Guidance; 5-Year Plan Targets Unchanged; Maintain FVE
No-moat-rated Fiat Chrysler reported second-quarter earnings per share before special items of EUR 0.62, far below the consensus EPS of EUR 0.84 and off EUR 0.07 versus the same quarter last year. The miss was driven by the delayed launch of the new Ram pickup, an associated spike in launch costs, and China consumers postponing purchases at the end of the second quarter to the first part of the third quarter on tariff reduction, especially affecting Maserati but also Alfa Romeo as well as import...Fiat Chrysler Automobiles is a holding company. Through its subsidiaries, Co. is an international automotive group engaged in designing, engineering, manufacturing, distributing and selling vehicles, components and production systems. Co. has operations in approx. 40 countries and sells its vehicles directly or through distributors and dealers in more than 140 countries. Co. designs, engineers, manufactures, distributes and sells vehicles for the mass market under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia and Ram brands and the SRT performance vehicle designation.
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