Global demand for Jeeps remained strong in the third quarter, helping FCA to a 29% increase in adjusted pre-tax profits. Image source: Fiat Chrysler Automobiles.
Fiat Chrysler Automobiles (NYSE:FCAU) said on Oct. 25 that its adjusted earnings before interest and tax ("adjusted EBIT") jumped 29% in the third quarter to 1.5 billion euros ($1.63 billion).
Continued strong demand for its profitable Jeep SUV line led FCA to boost its full-year 2016 guidance for the second time this year. But its third-quarter net result was dented by a charge of 149 million euros ($162 million) for recall-related costs.
The result exceeded the 1.4 billion-euro average estimate by Wall Street analysts polled by Reuters. Revenue was roughly flat at $26.8 billion euros, below the consensus 27.5 billion-euro estimate.
