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Ferrari (RACE) Q2 2022 Earnings and Guidance

The Ferrari SP38 is seen at the Goodwood Festival of Speed ​​2022 on June 23 in Chichester, England.

Martyn Lucy | Getty Images

Ferrari raised its guidance for 2022 after reporting record second-quarter results amid unprecedented demand for its sports and grand touring cars.

The Italian supercar maker has been immune to the supply chain disruptions that have forced major automakers to cut production in recent quarters, thanks to its low sales volumes. Ferrari’s wealthy customers are also partly shielded from the economic worries that are beginning to show in consumer data.

On the strength of its first-half results and strong order book, Ferrari now said it expects earnings of between €4.80 and €4.90 ($4.89 to $4.99) per share ($4.89 to $4.99 ) that he expects to announce for the whole year, with an income of approximately 4,900 billion euros. It previously told investors it expected full-year earnings to fall between 4.55 euros and 4.75 euros per share, on revenue of around 4.8 billion euros.

Ferrari’s second-quarter profits, revenue and shipments rose more than 20% from a year ago to quarterly records. Its net orders also hit a record for the quarter, CEO Benedetto Vigna said in a statement.

Here are the key numbers:

  • Earnings per share: 1.36 euros, 1.11 euros in the second quarter of 2021.
  • Income: 1,290 billion euros, 1,040 billion euros in the second quarter of 2021.

Ferrari shipped 3,455 vehicles in the quarter, up 29% from a year ago, thanks to strong demand for its V8-powered Portofino M convertible and F8 mid-engined sports car. The company also confirmed that production of the new V6-powered 296 GTB hybrid sports car has begun.

Ferrari (RACE) Q2 2022 Earnings and Guidance

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