Ferrari Q2 Net Profit Increases 14%; Confirms FY19 Outlook

(RTTNews) - Ferrari N.V. (RACE) reported Friday that its net profit for the second quarter increased 14 percent to 184 million euros or 0.96 euros per share from 160 million euros or 0.85 euros per share in the prior-year quarter.

Net revenues for the quarter increased to 984 million euros, up 8.6 percent or 6.8 percent at constant currency. Shipments totaled 2,671 units in the second quarter 2019, up 208 units or 8.4 percent from last year.

Looking ahead for fiscal 2019, Ferrari still expects adjusted earnings per share of 3.50 euros to 3.70 euros, adjusted EBITDA of 1.20 billion euros to 1.25 billion euros, and net revenues of more than 3.5 billion euros. The outlook compares to adjusted earnings per share of 3.40 euros and net revenues of 3.4 billion euros in fiscal 2018.