Fiat Chrysler’s Q4 earnings meet Wall Street expectations, stock moves up 3% pre-market

The RAM 1500.

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The RAM 1500.
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Fiat Chrysler Automobiles

Fiat Chrysler Automobiles said its operating profit matched expectations in the fourth quarter, boosted by strong North American business and better results in Latin America, as it heads to a merger with Peugeot.

The Italian American carmaker said on Thursday its adjusted earnings before interest and tax (EBIT) grew 7.1% to 2.12 billion euros ($2.33 billion) in the final quarter of 2019.

Then result was in line with a 2.11 billion euro forecast in an analyst poll compiled by Reuters.

In a statement, FCA highlighted strong pickup-truck sales in the US, a $7.2-billion deal to unload its Magneti Marelli partsmaker, and a new four-year contract with the United Auto Workers union, following a challenging 50-day strike against General Motors and the successful new contract with Ford.

FCA shares moved up 3% in pre-market trading, to $14.

(Reuters reporting by Giulio Piovaccari; editing by Stephen Jewkes.)