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Fiat Chrysler third-quarter operating profit tops expectations on North America

Fiat Chrysler third-quarter operating profit tops expectations on North America
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S., May 25, 2018. REUTERS/Rebecca Cook/File Photo -
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Rebecca Cook(Reuters)
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MILAN (Reuters) – Fiat Chrysler <FCHA.MI> <FCAU.N> on Thursday posted higher than expected operating earnings in the third quarter, lifted by record profitability in North America, as the carmaker heads to a merger with French rival PSA <PEUP.PA>.

The strong results led Fiat Chrysler (FCA) to reiterate its full-year guidance of adjusted earnings before interest and tax (EBIT) over 6.7 billion euros (£5.8 billion). It also expects a further improvement of its financial performance in 2020.

FCA and PSA said earlier on Thursday they planned to join forces through a 50-50 share swap to create the world’s fourth-largest automaker, triggering a new wave of consolidation in the car industry.

(Reporting by Giulio Piovaccari, editig by Stephen Jewkes)

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