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Ferrari (RACE) Q2 2022 earnings and steering

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

Martyn Lucy | Getty Pictures

Ferrari raised its steering for 2022 after reporting report 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 supply-chain disruptions which have compelled bigger automakers to cut back manufacturing over the past a number of quarters, due to its small manufacturing volumes. Ferrari’s rich clientele are additionally shielded to some extent from the financial issues which have begun to seem in client knowledge.

On the energy of its first-half outcomes and strong order guide, Ferrari mentioned that it now expects to report earnings per share between 4.80 euros and 4.90 euros for the total yr, on income of roughly 4.9 billion euros. It had beforehand instructed buyers to count on 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 data. Its web order consumption additionally hit a report degree within the quarter, mentioned CEO Benedetto Vigna in a press release.

Listed below 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 automobiles 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 automotive. The corporate additionally confirmed that it is begun manufacturing of its new V6-powered hybrid 296 GTB sports activities automotive.

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