Chrysler Group has announced its third-quarter financial results a little later than its crosstown rivals at General Motors and Ford, but the company has reason to celebrate thanks to strong numbers across the board.
If there is one thing that should be remembered when looking at quarterly and annual earnings, it's that the headline numbers rarely tell the whole story when it comes to an automaker's health. Chrysler's first-quarter earnings are just such an example.
Chrysler has just announced earnings of $464 million in net income for this third quarter, a 22-percent year-over-year increase. Net income for the first three quarters of 2013 is at $1.1 billion. Net revenue climbed significantly as well, to $17.6 billion, a 13.5-percent increase on Q3 of 2012.
Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $
Increasing consumer demand for Ram pickup trucks and big SUVs has helped to boost May sales for Chrysler. Ram sales were up a total of 24 percent year-over-year for the month of May. In addition, Dodge sales increased by 23 percent in May, with the standout Durango clocking a 24-percent year-over-year improvement (with an updated 2014 model in the wings, incentives are thick on the ground for 2013 inventory). Fiat and Jeep were up only a modest one percent, however, and Chrysler brand sales were
Chrysler reports that its vehicle sales jumped by 12 percent in the third quarter over the same period in 2011. That step up was enough to bump profits by 80 percent to $381 million on $15.5 billion of net revenue. Moving forward, the automaker expects to see fourth-quarter profit of $210 million, which should help the company realize its forecast of $1.5 billion of net profit for the year. Reuters reports Chrysler CEO Sergio Marchionne expects the automaker's free cash flow for 2012 to be "well
Despite the fact that Fiat has a controlling stake in Chrysler, the Italian automaker cannot take advantage of the Pentastar's recent success to ease its pain in Europe.
Chrysler has posted a net profit of $346 million in the second fiscal quarter of 2012. The amount represents a big jump compared to the $370 million loss it posted for the same time period a year ago. The automaker had to pay of $551 in U.S. government loans in that quarter.
Chrysler Group had nothing but good news to share this morning as it has reported its financial results for the first quarter of 2012. The headline-hogging number is that the automaker's first quarter profit quadrupled from $116 million a year ago to $473 million this year. All that was on the back of U.S. sales that increased 39 percent year-over-year. The rise in sales also resulted in Chrysler Group increasing its market share in the U.S. from 9.2 to 11.2 percent.
Good news has been in abundant supply for the domestic automakers the last twelve months, and nowhere is that more evident than in the headline to this press release: "Chrysler Group Reports Full Year 2011 Net Income of $183 Million." Now, $183 million isn't exactly a king's ransom in the auto industry (or elsewhere – Apple made $25.92 billion last year). But if Chrysler is making money again for the first time since emerging from bankruptcy, well, perhaps the U.S. auto industry has finall
Chrysler earned a net income of $212 million during the third quarter of 2011. That figure marks a significant improvement over the same period last year, when the company posted a net loss of $84 million. Chrysler notes that its modified operating profit more than doubled compared to the third quarter of last year. The automaker posted a modified operating profit of $483 million for Q3 2011 compared to $239 million in Q3 2010. Chrysler sites an increased demand for the company's multiple refres
As we continue to pull the daily sheets from our Word of the Day calendar and accountants are busy counting the days of their fiscal calendars, the pencil pushers at Ford and Chrysler can rest easy for a moment because they just finished compiling the numbers for the second quarter.
Chrysler has announced a profit of $116 million for the first quarter of 2011, the company's first profit since exiting bankruptcy. This came from $13.1 billion in revenue, which represents a 35 percent increase compared to Q1 2010. Profit from operations was up, as well, as Chrysler managed to earn $477 million, more than tripling the positive cash flow of Q1 2010. Sales were up 18 percent on the quarter to 394,000 vehicles, and the automaker cites its 16 new or refreshed vehicles as reasons fo
Chrysler has announced a third-quarter operating profit of $239 million thanks to a 5.2-percent increase in revenue between July and September. That put the smallest of the Big Three's revenue at $11 billion. That put the company's net loss at $82 million, an improvement from the $172 million net loss recorded in Q2. As a result, Chrysler has adjusted its 2010 financial outlook, saying that it should be able to post an annual operating profit of $700 million for 2010, besting previous estimates
General Motors and Chrysler LLC will lead automakers to "gushing profits" when annual U.S. sales reach 15 million vehicles, said Steven Rattner, the former head of the federal government's auto task force, on Bloomberg TV last Friday.
It's a claim that needs a big, fat asterisk after it, but Chrysler's Jim Press is cheerily touting a $1.1 billion dollar gross profit. The number, which wasn't pulled out of a posterior orifice but has yet to be adjusted, is known as the EBIDA, or earnings before interest, depreciation, and amortization. Well, shoot, if you take all of the albatrosses off the necks of the automakers, they're all cranking along with nice gross profit numbers. Too bad that Chrysler's gross profit will turn into a