Fiat Chrysler Swung to Loss in 2Q Amid Coronavirus Pandemic
July 31 2020 - 7:58AM
Dow Jones News
By Kim Richters
Fiat Chrysler Automobiles NV said Friday that it swung to a net
loss for the second quarter amid the coronavirus pandemic.
The Italian-American car maker posted a net loss of 1.05 billion
euros ($1.24 billion), compared with a profit of EUR793 million for
the same period the year prior.
It posted an adjusted loss before interest and taxes of EUR928
million compared with adjusted earnings before interest and taxes
of EUR1.53 billion a year earlier.
Quarterly revenue fell to EUR11.71 billion from EUR26.74
billion.
It said results and operating cash flows had significantly
improved in June.
The company didn't provide any guidance for the rest of the
year.
It said it expects the merger with Peugeot SA to close by the
end of the first quarter next year.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 31, 2020 07:43 ET (11:43 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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