Fiat Chrysler Automobiles on Thursday posted a 61 percent gain in fourth-quarter net income to $1.47 billion along with revenue growth of 6 percent to $34.7 billion.
For the full year, FCA's net income rose 3 percent to $4.1 billion.
FCA shares are down about 10 percent in Europe because the company issued weaker-than-expected guidance for profits and industrial free cash flow for 2019, raising doubts about the automaker's longer-term financial targets. FCA shares in New York were down 9.6 percent in premarket trading to $15.68 as of 8:15 a.m.
The world's seventh-largest automaker said in the report that it expected 2019 adjusted earnings before interest and tax (EBIT) -- excluding the Magneti Marelli parts unit it has agreed to sell -- of more than $7.6 billion, below analysts' average forecast of about $8.3 billion.
FCA also said it expects industrial free cash flow in 2019 of more than $1.7 billion, which is lower than the $5 billion reached at the end of last year, due to higher capital expenditures along with cash payments for fines and other costs related to its U.S. settlement for diesel-emissions infringements.
FCA said its 44,000 UAW-represented workers in the U.S. on March 8 will receive average profit-sharing payments of $6,000 -- a $500 increase over last year.
The 2018 profit sharing payment is based on the company's adjusted earnings performance in North America. FCA said its UAW hourly employees have received a total of more than $29,000 in profit sharing, on average, since 2009.
The company said it invested more than $10 billion and created nearly 30,000 new jobs in the U.S. in the last decade.
Reuters and Philip Nussel contributed to this report