Fiat Chrysler (FCAU) Stock Tumbles on Third Quarter Loss - TheStreet

NEW YORK (TheStreet) -- Fiat Chrysler (FCAU) - Get Report stock is lower by 5.91% to $14.50 in late afternoon trading on Wednesday, after the release of the company's 2015 third quarter earnings results. 

The automotive group reported a loss of 306 million euros, or $339 million, due in large part to U.S. recall costs and the Tianjin explosion in China, compared to net income of 175 million euros for the prior year period. The company noted that it should recover the losses in China through insurance. 

Fiat Chrysler posted adjusted earnings of 22 cents per share for the most recent quarter, up from 17 cents per share in the year ago period. 

Revenue climbed year over year, to $30.6 billion from $23.55 billion in the 2014 third quarter.

Analysts had forecast for earnings of 20 cents per share on revenue of $27.21 billion.

Image placeholder title


data by