Fiat Chrysler Reports Weak 1Q Results but 2019 Guidance Unchanged; Maintaining EUR 28 FVE
No-moat-rated Fiat Chrysler reported first-quarter 2019 diluted earnings per share before special items (EPS), including Magneti Marelli discontinued operations, of EUR 0.43, EUR 0.07 below the consensus EPS of EUR 0.50 and EUR 0.23 lower than last year. With the May 2 sale of auto parts supplier Magneti Marelli treated as a discontinued operation, consolidated EPS was EUR 0.36. Global vehicle shipments dropped 14%, but consolidated revenue was only 5% lower at EUR 24.5 billion compared with EUR...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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