Fiat Chrysler's Jeep-Led Profit Surge Clouded by Higher Debt
- Debt rises amid investments to increase Jeep, truck production
- Adjusted Ebit nearly doubles as Jeep growth offsets car slump
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Fiat Chrysler Automobiles NV’s profit surged in the first quarter on demand for Jeep sport utility vehicles, while debt rose as the automaker spends to shift production away from sedans and hatchbacks.
Adjusted earnings before interest and taxes nearly doubled to 1.38 billion euros ($1.56 billion) from 700 million euros a year ago, excluding profits from former unit Ferrari, the Italian-American carmaker said in a statement on Tuesday. That compares with an average estimate of 1.23 billion euros, based on forecasts from seven analysts.