As indicated by Italian carmaker Ferrari, its second-quarter income, shipments and profits were all up over 20% from the year-ago period. Its net order consumption also hit a record in the quarter.
Ferrari raised its guidance for 2022 subsequent to revealing record results for the second quarter in the midst of exceptional demand for its costly games and excellent passenger vehicles.
The company has been largely immune from the supply chain disruptions that have forced larger automakers to reduce production over the last several quarters, and this is because of its small sales volumes. Ferrari’s wealthy clientele are also shielded to some extent from the economic concerns that have begun to appear in consumer data.
On the strength of its first-half outcomes and powerful request book, Ferrari said that it now hopes to report earnings per share between 4.80 euros and 4.90 euros ($4.89 and $4.99) for the full year, on revenue of roughly 4.9 billion euros. It had recently advised investors to expect entire year profit per sale to fall between 4.55 euros and 4.75 euros, on revenue of around 4.8 billion euros.
The Key Numbers:
Profit per share: 1.36 euros, versus 1.11 euros in the second quarter of 2021. Income: 1.29 billion euros, versus 1.04 billion euros in the second quarter of 2021.
Ferrari transported 3,455 vehicles in the quarter, up 29% from a year ago, on solid interest for its V8-controlled Portofino M convertible and F8 mid-motor sports vehicle. The organization also affirmed that it’s started creation of its begun production of its new V6-powered hybrid 296 GTB sports car.
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