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Q1: profits up, shipments down

by Bill Cawthon on

This morning, Fiat Chrysler Automobiles (FCA) reported a better-than-expected rise in first-quarter operating profits, thanks to a strong performance in North America.  Volume was below expectations, due to shortfalls in Latin America and the Asia-Pacific region.

FCA

The world’s seventh-largest carmaker reported adjusted operating profit rose from $789 million in Q1 2015 to to $1.55 billion. Sales rose by 3%, to nearly $30 billion.

Net industrial debt rose from $5.6 billion to $7.4 billion over three months; the company blamed seasonal and currency effects, but confirmed previously announced full-year guidance (predictions). Liquidity (available funds including lines of credit) was almost unchanged, moving from $27.7 billion down to $27.4 billion.  Investments in the Chrysler Pacifica and Alfa Romeo Giulia will start paying off this quarter (Q2).

FCA FIRST-QUARTER 2016 RESULTS
Period Shipments Adj. Net Profit Net Revenues EBIT Net Industrial Debt Available Liquidity
Q1/2016 1,086,000 $595,293,600 $29.956 bil. $1,555 bil. $7,441 bil. $27,397 bil.
Q1/2015 1,093,000 $34,950,950 $29,137 bil. $0.789 bil. $5,637 bil. $27,735 bil.
Change -0.6% 1603% 3% 97% 32% -1%

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for just-auto.com, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.


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