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Administrator
CFO Richard Palmer walked investors through FCA US’s second-quarter resultsin a webcast today.He noted that margins for North America were higher than in other regions, partly because of exchange rates.
The American division of FCA, formerly called Chrysler Group,has around $2 billion in cash, nearly double the cash at the end of March. Free cash flow was around $1 billion, much higher than last year, but $3 billion was spent — $1 billion sent to FCA and $2.9 billion used to prepay long term loans.
Net income for FCA US was $598 million, lower than the second quarter of 2014 ($619 million) due to a $90 million charge for the NHTSA consent order, and $71 million to extinguish debt. (...) →
Former Chrysler pays off debt, makes money is from Allpar News.
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The American division of FCA, formerly called Chrysler Group,has around $2 billion in cash, nearly double the cash at the end of March. Free cash flow was around $1 billion, much higher than last year, but $3 billion was spent — $1 billion sent to FCA and $2.9 billion used to prepay long term loans.
Net income for FCA US was $598 million, lower than the second quarter of 2014 ($619 million) due to a $90 million charge for the NHTSA consent order, and $71 million to extinguish debt. (...) →
Former Chrysler pays off debt, makes money is from Allpar News.
More...