Modified Operating Profit for the Quarter was $862 Million, From $706 Million a Year Ago
- Chrysler Group LLC net income for the third quarter of 2013 was $464 million, an increase of 22 percent from $381 million a year ago
- Net revenue for the third quarter was $17.6 billion, up 13.5 percent from a year ago
- Modified Operating Profit(b) increased 22 percent to $862 million in the third quarter, from $706 million a year earlier
- Free Cash Flow(e) for the third quarter was negative $343 million; Cash(d) as of Sept. 30, 2013, was $11.5 billion, down from $11.9 billion at both June 30, 2013, and Sept. 30, 2012
- Net Industrial Debt(f) was $888 million at Sept. 30, 2013, up from $656 million at June 30, 2013, and $693 million a year ago
- Worldwide vehicle shipments were 593,000 for the quarter, up 6 percent from 559,000 a year ago
- Worldwide vehicle sales for the third quarter were 603,000, up 8 percent from a year ago, driven primarily by a 16 percent increase in U.S. retail sales
- U.S. market share was 11.2 percent for the third quarter, compared with 11.3 percent a year ago; Chrysler Group market share was 14.3 percent in Canada, the same as a year ago
- Full-year 2013 guidance is confirmed.
“Chrysler Group’s ninth consecutive quarter of positive net income highlights our commitment to producing award-winning vehicles for consumers, such as the Jeep Grand Cherokee and the Ram 1500,” Chrysler Group LLC Chairman and CEO Sergio Marchionne said. “We also are pleased to introduce the already award-winning Jeep Cherokee to the lineup, as it launches into the largest SUV segment in the United States.”
Modified Operating Profit was $862 million, or 4.9 percent of net revenue, in the third quarter, versus $706 million reported in the prior year. The 22 percent increase was primarily due to higher shipment volumes and positive pricing, partially offset by higher industrial and launch-related costs and vehicle content enhancements. Modified Operating Profit was $2.1 billion for the first nine months of 2013.
