Fiat Chrysler Automobiles
The RAM 1500.
- FCA met analysts' expectations for Q4 2019 earnings.
- The automaker cited strong sales in the pickup-truck-mad US market as a key driver.
- FCA is progressing on a merger with Peugeot.
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Fiat Chrysler Automobiles said its operating profit matched expectations in the fourth quarter, boosted by strong North American business and better results in Latin America, as it heads to a merger with Peugeot.
The Italian American carmaker said on Thursday its adjusted earnings before interest and tax (EBIT) grew 7.1% to 2.12 billion euros ($2.33 billion) in the final quarter of 2019.
Then result was in line with a 2.11 billion euro forecast in an analyst poll compiled by Reuters.
In a statement, FCA highlighted strong pickup-truck sales in the US, a $7.2-billion deal to unload its Magneti Marelli partsmaker, and a new four-year contract with the United Auto Workers union, following a challenging 50-day strike against General Motors and the successful new contract with Ford.
FCA shares moved up 3% in pre-market trading, to $14.
(Reuters reporting by Giulio Piovaccari; editing by Stephen Jewkes.)