Recent Fiat news concerning the company’s outlook has FCAU stock falling hard on Thursday.
Fiat Chrysler (NYSE:FCAU) says that it is expecting earnings per share for the full year of 2019 to come in around $3.06. This Fiat news is bad for FCAU stock as Wall Street is looking for the car company to report earnings per share of $3.65 for 2019.
The Fiat news also includes the company expecting Adjusted EBIT for the full year of 2019 to be about $7.61 billion. Unfortunately for FCAU stock, this will have its Adjusted EBIT for the year coming in below analysts estimate of $8.29 billion.
The poor Fiat news is a black mark on the company’s earnings report for the fourth quarter of 2018. This earnings report includes earnings per share coming in at $1.07. This is an increase over its earnings per share of 58 cents from the same time last year. It also beats out Wall Street’s earnings per share estimate of $1.01 for the quarter, but was unable to keep FCAU stock from falling today.
Fiat Chrysler also reported revenue of $33.46 billion for the fourth quarter of the year. This is up from its revenue of $31.31 billion reported in the fourth quarter of the previous year. However, it wasn’t good news for FCAU stock by coming in below analysts’ revenue estimate of $33.85 billion for the period.
FCAU stock was down 11% as of Thursday afternoon, but is up 21% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.