Ferrari Reports Increased Profitability and Raised Guidance Despite Slight Decline in Vehicle Shipments
Ferrari (RACE) reported strong third-quarter financial results, characterized by a 7.4% year-over-year revenue increase and a 14% jump in diluted earnings per share (EPS). While vehicle shipments fell by 1% to 3,368 units compared to the previous year, management noted this was a deliberate move to facilitate model changeovers and maintain brand scarcity. The company's financial strength is driven primarily by significant pricing power, with average selling prices rising by 8%. Additionally, high-margin personalization services accounted for 21% of car and parts revenue. Following these results, Ferrari raised its full-year guidance for both sales and profitability, underscoring the resilience of its luxury business model.
Tickers: $RACE
Topics: earnings report EPS increase guidance upgrade revenue growth