=Fiat Chrysler (FCAU) reported earnings on Wed 27 Jul 2016 (b/o)

Fiat Chrysler misses by EUR 0.02, misses on revs; raises FY16 guidance  :

• Reports Q2 (Jun) earnings of 0.45 per share, excluding non-recurring items, 0.02 worse than the Capital IQ Consensus of 0.47; revenues fell 2.3% year/year to 27.89 bln vs the 29.25 bln Capital IQ Consensus. 
• Worldwide consolidated shipments of 1,175 thousand units, down 1% driven by APAC due to transition to local Jeep production in China. Worldwide combined shipments (including JVs) were 1,233 thousand units, up 1%, LATAM reduction more than offset by EMEA increase.
• Adjusted EBIT increased 16% to 1,628 million, with EMEA more than doubled and improved margins for all regions and Components. EBIT decreased 14% to 1,060 million primarily due to charges for Takata airbag inflator recalls of 414 million
• Co issues guidance for FY16, raises FY16 revs to > EUR 112 bln from > EUR 110 bln vs. 113.37 bln Capital IQ Consensus. Adjusted EBIT raised to > 5.5 billion from > 5.0 billion; Adjusted net profit raised to > 2.0 billion from > 1.9 billion; Net industrial debt