Ferrari Raises Full-Year Guidance After Strong Q2 Performance
Ferrari reported second-quarter earnings that exceeded analysts' expectations, leading the company to raise its full-year revenue guidance. The luxury automaker now anticipates €7.6 billion in annual revenue, up from a previous target of €7.5 billion. In the quarter, Ferrari generated €1.94 billion in revenue and adjusted EPS of €2.62, surpassing forecasts for €1.88 billion in revenue and €2.50 per share. The company also increased its targets for adjusted EBITDA to €2.97 billion from €2.93 billion and set a new minimum industrial free cash flow target of €1.55 billion, up from €1.50 billion. Ferrari CEO Benedetto Vigna attributed the strong results to sustained demand trends and customization options that have driven higher revenue per vehicle.
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Topics: automotive financial_results luxury_brands