FIAT Chrysler Q4 2019 and Full Year 2019 Earnings

[AlexB]

FCA to announce 2019 Full Year and Fourth Quarter Results on February 6
Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) announced today that its financial results for the full year and fourth quarter 2019 will be released on Thursday, February 6, 2020.
A live audio webcast and conference call of the 2019 full year and fourth quarter results will begin at 1:00 p.m. GMT / 2:00 p.m. CET / 8:00 a.m. EST on Thursday, February 6.

FCA to announce 2019 Full Year and Fourth Quarter Results on February 6

FCA to announce 2019 Full Year and Fourth Quarter Results on February 6 Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) announced today that its financial results for.

finance.yahoo.com

 

[AlexB]

I will try to provide a Play-By-Play of the Conference Call between Manley & Palmer with Wall Street Anaylst.

 

[AlexB]

The big storyline entering this Call is have North America ("Chrysler") profit momentum crashed since last earnings.
Ford Q4 Earnings in North America (margins below 4%) fell off a cliff with warranty/recalls cost surge together with new Explorer launch problems in addition to UAW signing bonuses.

 

[AlexB]

The Presention Deck:

https://www.fcagroup.com/en-US/investors/events/quarterly_results_presentations/FCA_2019_FY_and_Q4_Results_Presentation.pdf

 

[AlexB]

10% EBIT Margins in North America("Chrysler") for Q4 despite paying UAW signing bonus.

 

[AlexB]

In full year 2019 North America made reduce vehicle shipments to Dealers by 222,000 vehicles , and yet increased Revenue to €73,4 billion up from €72,4 billion.
FCA having a higher, richer & pricer mix in North America is clearly working.

 

[Bili]

 

[AlexB]

Here we go! Call underway.

 

[AlexB]

Manley now speaking

 

[AlexB]

Manley going over key actions undertook during the year of 2019, what's left to do, and thanked the employees of FCA.

 

[AlexB]

Manley talking about the merger:he states no hurdle to closing.

 

[AlexB]

Manley stated 80% merger savings by year the end of year 2.

 

[AlexB]

Manley recapping actions in Europe:Alfa's profitability plan/BEV's /plant updates.

 

[Bili]

Manley stated 80% merger savings by year the end of year 2.

So... Platform sharing is not MUST.

 

[AlexB]

Manley played down the decline of Jeep sales in NA by stated the Company will chose Margins over volume.

 

[AlexB]

Manley goes back to Europe discussing the end of Punto, New FIAT 500,plug in Compass-Renegades and the decline in the age of the European lineup.

 

[AlexB]

Palmer takes over.
Palmer Clears up the whole Italian tax story stating because pre-Chrysler merger FIAT had long-lengthy period of losses in Italy, FCA has built a large carry forward base in Italy(together with tax breaks) and therefore will be zero impact from a settlement with Italy over the taxability of the Chrysler investment prior to the Merger.

 

[AlexB]

Manley takes back the call to talk about Maserati.

 

[AlexB]

Manley states he proud Maserati plans by the team, states Maserati will go into new white spaces and is on path to be all electric brand.

 

[AlexB]

Manley states he looks at U.S. sales at 17 Million SAAR for 2020.
Also looks for North America to be the leading unit for profit improvement for 2020.