20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Ferrari N.V. (NYSE:RACE) shares are rising after it reported better-than-expected third-quarter FY23 earnings.
RACE reported third-quarter FY23 sales growth of 23.5% year-on-year to $1.681 billion (€1.544 billion), beating the analyst consensus estimate of $1.468 billion.
Cars and spare parts revenue rose 26% Y/Y, and Engines decreased by 33%. Total shipments rose 9% to 3,459 units.
Adjusted EBITDA rose 37% Y/Y to €595 million, and the margin expanded 380 basis points Y/Y to 38.6%.
Net profit for the quarter increased 46% to €332 million. EPS of $1.98 beat the consensus estimate of $1.60.
Operating cash flow totaled €481 million with a €276 million free cash flow. Net Industrial Debt as of September 30, 2023, was €233 million.
Benedetto Vigna, Ferrari CEO, said, "The order book remains at highest levels reflecting strong demand across all geographies, covering the entire 2025."
Outlook: Ferrari raised FY23 net revenue guidance from about €5.8 billion to about €5.9 billion. It also raised FY23 adjusted EPS guidance from €6.25 - €6.40 to above or equal to €6.55.
Price Action: RACE shares are trading higher by 5.95% at $323.14 on the last check Thursday.
Photo Via Company
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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