Ferrari N.V (RACE) Tops Q2 EPS by EUR0.07; Raises Guidance

Ferrari N.V (NYSE: RACE) reported Q2 EPS of EUR1.36, EUR0.07 better than the analyst estimate of EUR1.29. Revenue for the quarter came in at EUR1.29 billion versus the consensus estimate of EUR1.24 billion.

• Total shipments of 3,455 units, up 28.7% versus Q2 2021
• Net revenues of Euro 1,291 million, up 24.9% versus prior year
• EBITDA of Euro 446 million, up 15.5% versus prior year
• EBIT of Euro 323 million, up 17.8% versus prior year
• EBITDA margin of 34.6% and EBIT margin of 25.0%, in line with full year targets
• Net profit of Euro 251 million and diluted EPS at Euro 1.36
• Industrial free cash flow generation of Euro 79 million, implying the best ever Q2 in terms of operating performance before taxes

“Ferrari continues a phase of strong growth, with quarterly record results in terms of revenues, EBITDA and EBIT. The quality of the first six months and the robustness of our business allows us to revise upward the 2022 guidance on all metrics. Also the net order intake reached a new record level in the quarter” – commented Benedetto Vigna, Chief Executive Officer of Ferrari. “The last quarter was also notable for the unique memories generated by our 75th anniversary celebrations and the Cavalcades, which raised the experiences we offer clients for sharing the passion and spirit of Ferrari to new levels as we continue to push the boundaries.”

For earnings history and earnings-related data on Ferrari N.V (RACE) click here.

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• PTC Therapeutics (PTCT) Tops Q1 EPS by 9c, provides guidance
• Allison Transmission (ALSN) Tops Q1 EPS by 2c, Beats on Revenue; Offers FY24 Revenue Guidance