Ferrari Registers 18.7% Revenue Growth In Q3; Boosts FY22 Forecast

Ferrari Registers 18.7% Revenue Growth In Q3; Boosts FY22 Forecast
  • Ferrari NV RACE reported third-quarter FY22 sales growth of 18.7% year-on-year to €1.25 billion.
  • Total shipments of 3,188 units improved 15.9% from last year.
  • Car and spare parts revenue rose 19.6% Y/Y, and Engines decreased by 25.3%.
  • EBITDA rose 17.1% Y/Y to €435 million, and the margin contracted 40 basis points Y/Y to 34.8%.
  • EPS of €1.23 improved by 11% from €1.11 last year.
  • Cash flow from operating activities totaled €386 million with a €188 million free cash flow.
  • Outlook: Ferrari raises FY22 revenue guidance from €4.9 billion to €5 billion.
  • It also hiked the adjusted EPS outlook from €4.80 - €4.90 to ~€5.00.
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  • Price Action: RACE shares are trading lower by 0.10% at $196.77 on the last check Wednesday.
  • Photo Via Company
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