Ferrari: Q3 results beat expectations
(CercleFinance.com) - On Tuesday Ferrari reported higher-than-expected Q3 earnings and said it expects full-year results at the top of its forecast range.
Adjusted Ebit fell by only 2% to 222 million euros for the July-September period, above the consensus of 198 million euros.
Sales slipped by just 3% to 888 million euros, based on deliveries that are down 7% at 2,313 units, in particular marked by strong sales of 12-cylinder engines.
The sports car manufacturer has also said that it expects FY results at the top of its previous estimates, with adjusted Ebit expected to be around 700 million euros this year.
The market likes this news - the share was trading up 3.4% on the Milan Stock Exchange after lunch on Tuesday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Adjusted Ebit fell by only 2% to 222 million euros for the July-September period, above the consensus of 198 million euros.
Sales slipped by just 3% to 888 million euros, based on deliveries that are down 7% at 2,313 units, in particular marked by strong sales of 12-cylinder engines.
The sports car manufacturer has also said that it expects FY results at the top of its previous estimates, with adjusted Ebit expected to be around 700 million euros this year.
The market likes this news - the share was trading up 3.4% on the Milan Stock Exchange after lunch on Tuesday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.