Ferrari N.V (RACE) Tops Earnings, Revenue Estimates, Boosts Guidance
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Ferrari (RACE) PT Lowered to $220 at CFRA
August 2, 2022 8:27 AM EDTCFRA lowered its price target on Ferrari (NYSE: RACE) to $220.00 (from $260.00) while maintaining a Hold rating.... More
Ferrari lifts 2022 forecasts after strong Q2 results, record orders
August 2, 2022 7:18 AM EDTBy Giulio Piovaccari
MILAN (Reuters) - Ferrari beat earnings forecasts and reported record orders in the second quarter, prompting the luxury sports car maker to raise its full-year targets, as Portofino M and F8 family models drove sales.
The Italian company, famed for its roaring engines powering super-cars with price tags starting at over 200,000 euros ($205,000), in June rolled out its new business plan, with a promise to make electric and hybrid cars 80% of it models by 2030..
Shipments in the April-June quarter rose 29%, with deliveries more than doubling in China to 358 units.
... MoreFerrari N.V (RACE) Tops Q2 EPS by EUR0.07; Raises Guidance
August 2, 2022 7:16 AM EDTFerrari 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 2021Net revenues of Euro 1,291 million, up 24.9%... More