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Fiat Chrysler Q3 Adj. EBIT Rises, Revenue Down 1%; Confirms Guidance

Fiat Chrysler Automobiles N.V. (FCAU) reported that its third-quarter adjusted net profit declined 6 percent year-on-year to 1.26 billion euros. Adjusted earnings per share was 0.81 euros compared to 0.86 euros. Adjusted EBIT was at 1.96 billion euros, an increase of 5 percent. IFRS loss per share from continuing operations was 0.11 euros compared to profit of 0.33 euros.

Third-quarter net revenues were 27.32 billion euros, down 1 percent from prior year. Worldwide combined shipments were 1,059 thousand units, down 9 percent, primarily due to continued dealer stock discipline in North America.

"Our strong Q3 results, built on record North America profitability, put us in a position to deliver our full-year guidance and to further improve financial performance in 2020. In addition, changes to our product portfolio plans are central to our strategy to improve performance in EMEA and Maserati," said Mike Manley, CEO.

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