Ferrari Registers 25% Growth In Q2 Sales; Raises FY22 Outlook

Ferrari NV RACE reported second-quarter FY22 sales growth of 24.9% year-on-year to €1.291 billion.
Total shipments of 3,455 units improved 28.7% from last year.
Car and spare parts revenue rose 25% Y/Y, and Engines decreased by 8%.
EBITDA rose 15.5% Y/Y to €446 million, and the margin contracted 280 basis points Y/Y to 34.6%.
EPS of €1.36 improved 23% from €1.11 last year.
Cash flow from operating activities totaled €172 million with a €6 million free cash flow.
Outlook: Ferrari sees FY22 revenue of about €4.9 billion (previously about €4.80 billion) and adjusted EPS of €4.80 - €4.90 (previously €4.55 - €4.75).
Price Action: RACE shares are trading lower by 0.29% at $212.60 on the last check Tuesday.
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