Earlier today, Chrysler Group released its third-quarter 2011 preliminary financial results -- ahead of the Friday morning webcast and conference call. Our financial stability continues to improve every month, every quarter and, in the short time since Nov. 4, 2009, every year.
- Third quarter 2011 net income totaled $212 million compared with a net loss of $84 million a year ago
- Third quarter net revenue was $13.1 billion, up 19% from a year ago
- Modified Operating Profit(b) grew to $483 million in the quarter, up from $239 million a year ago
- The newly ratified contract with your 26,000+ U.S. UAW workers continues our commitment to investment, as well as adding new jobs.
- 2011 Chrysler Group U.S. sales continue to out-pace 2010, which was ahead of 2009.
- Worldwide vehicle sales in the third quarter were 496,000, up 24% compared with a year ago
In November 2010, when asked about the company's early success in its five-year plan, CEO Sergio Marchionne encouraged caution:
Now, we're nearing the end of step 2 and continuing to make progress. And, Marchionne is echoing that same cautious optimism:
"In the third quarter, Chrysler Group achieved increased sales and positive financial results, totally in line with the plan we laid out in November 2009.
"This house continues to be fully focused on financial performance and making outstanding cars and trucks by fully leveraging its alliance with Fiat," he said.
While the light peeking through the trees is getting brighter, we're not fully out of the woods yet. It's going to take every single person involved with the company -- including our suppliers and dealers -- to continue to stay focused on doing the best, smartest and most efficient jobs we can to ensure the best and highest-quality vehices and services for customers.
You can see our corporate investor relations page for full details on Chrysler Group third quarter 2011 preliminary financial results. There, you also can see financial definitions for terms such as modified operating profit, as mentioned in the bullet points above.