Ferrari (RACE) Q2 2022 earnings and steerage

Ferrari (RACE) Q2 2022 earnings and steerage

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The Ferrari SP38 seen at Goodwood Competition of Velocity 2022 on June twenty third in Chichester, England.

Martyn Lucy | Getty Pictures

Ferrari raised its steerage for 2022 after reporting document outcomes for the second quarter amid unprecedented demand for its high-priced sports activities and grand touring vehicles.

The Italian supercar maker has been largely immune from the availability chain disruptions which have pressured bigger automakers to cut back manufacturing over the past a number of quarters, because of its small gross sales volumes. Ferrari’s rich clientele are additionally shielded to some extent from the financial issues which have begun to seem in shopper information.

On the power of its first-half outcomes and sturdy order ebook, Ferrari stated that it now expects to report earnings per share between 4.80 euros and 4.90 euros ($4.89 and $4.99) for the total yr, on income of roughly 4.9 billion euros. It had beforehand informed traders to anticipate full-year earnings per share to fall between 4.55 euros and 4.75 euros, on income of about 4.8 billion euros.

Ferrari’s second-quarter revenue, income and shipments all rose greater than 20% from a yr in the past to new quarterly information. Its web order consumption additionally hit a document stage within the quarter, stated CEO Benedetto Vigna in a press release.

Listed here are the important thing numbers:

  • Earnings per share: 1.36 euros, versus 1.11 euros within the second quarter of 2021.
  • Income: 1.29 billion euros, versus 1.04 billion euros within the second quarter of 2021.

Ferrari shipped 3,455 autos within the quarter, up 29% from a yr in the past, on robust demand for its V8-powered Portofino M convertible and F8 mid-engine sports activities automobile. The corporate additionally confirmed that it is begun manufacturing of its new V6-powered hybrid 296 GTB sports activities automobile.

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