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Fiat Chrysler Q1 profit climbs 39.3% YOY

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According to Market Intelligence, February 2023

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Fiat Chrysler Q1 profit climbs 39.3% YOY

Fiat Chrysler Automobiles NV said its first-quarter normalized net income came to 44 euro cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS rose 38.3% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €689.8 million, a gain of 39.3% from €495.3 million in the prior-year period.

The normalized profit margin increased to 2.5% from 1.9% in the year-earlier period.

Total revenue climbed year over year to €27.72 billion from €26.57 billion, and total operating expenses rose on an annual basis to €26.31 billion from €25.37 billion.

Reported net income grew 35.3% year over year to €637.7 million, or 41 cents per share, from €471.4 million, or 31 cents per share.