Chrysler Offers First Post-Bankruptcy Look at Financial Performance
Despite a $4 billion loss since exiting bankruptcy last year, Chrysler Group LLC is on the rebound.
The company, under management control by Italy’s Fiat SpA, posted a $143 million operating profit for the first quarter, compared with an $895 million loss for the June through December 2009 period.
Fiat CEO Sergio Marchionne expects Chrysler to hit all the strategic targets outlined last November, including breaking even on an operational basis and selling 1.1 million cars in the U.S.
Revenue for 2010 is expected to range between $40 billion and $45 billion, while pre-tax earnings are predicted to hit $2.5 billion to $2.7 billion.
Fiat could boost its current 20% stake in Chrysler to 35% if the company meets certain financial targets.
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