Fiat reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that was inline with expectations.
Fiat announced earnings per share of €-0.3 on revenue of €20.57B. Analysts polled by anticipated EPS of €-0.25 on revenue of €20.57B. That with comparison to EPS of €0.36 on revenue of €24.48B in the same period a year before. Fiat had reported EPS of €0.97 on revenue of €29.64B in the previous quarter. Analysts are expecting EPS of €-0.97 and revenue of €13.81B in the upcoming quarter.
Fiat shares are down 39.86% from the beginning of the year , still down 46.31% from its 52 week high of €14.78 set on November 4, 2019. They are under-performing the STOXX 600 which is down 16.23% year to date.
Fiat follows other major Consumer Cyclical sector earnings this month
Fiat's report follows an earnings missed by Pirelli & C on May 14, who reported EPS of €0.04 on revenue of €1.05B, compared to forecasts EPS of €0.05 on revenue of €1.05B.
Salvatore Ferragamo had missed expectations on May 12 with first quarter EPS of €-0.23 on revenue of €221.7M, compared to forecast for EPS of €0.03 on revenue of €222.88M.
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