Ferrari (RACE) Q2 2022 earnings and guidance

The Ferrari SP38 found at Goodwood Competition of Pace 2022 on June 23rd in Chichester, England.

Martyn Lucy | Getty Illustrations or photos

Ferrari lifted its advice for 2022 after reporting report effects for the second quarter amid unprecedented demand for its substantial-priced sports and grand touring autos.

The Italian supercar maker has been largely immune from the offer chain disruptions that have pressured bigger automakers to lessen production over the final various quarters, thanks to its compact sales volumes. Ferrari’s wealthy clientele are also shielded to some extent from the economic considerations that have started to surface in shopper details.

On the power of its 1st-50 % effects and strong buy reserve, Ferrari explained that it now expects to report earnings per share amongst 4.80 euros and 4.90 euros ($4.89 and $4.99) for the comprehensive yr, on revenue of about 4.9 billion euros. It experienced beforehand told buyers to count on entire-calendar year earnings for each share to slide involving 4.55 euros and 4.75 euros, on earnings of about 4.8 billion euros.

Ferrari’s next-quarter income, revenue and shipments all rose extra than 20% from a year in the past to quarterly records. Its web buy consumption also strike a report level in the quarter, stated CEO Benedetto Vigna in a statement.

Below are the vital numbers:

  • Earnings for every share: 1.36 euros, as opposed to 1.11 euros in the second quarter of 2021.
  • Income: 1.29 billion euros, as opposed to 1.04 billion euros in the second quarter of 2021.

Ferrari delivered 3,455 autos in the quarter, up 29% from a yr in the past, on sturdy demand from customers for its V8-powered Portofino M convertible and F8 mid-motor sports car. The enterprise also verified that it is begun generation of its new V6-driven hybrid 296 GTB sporting activities automobile.