HomeBusinessFerrari (RACE) Q2 2022 earnings and guidance

Ferrari (RACE) Q2 2022 earnings and guidance

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

Martyn Lucy | Getty Images

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

The Italian supercar maker has been largely immune from the supply chain disruptions that have forced larger automakers to reduce production over the last several quarters, thanks to its small sales volumes. Ferrari’s wealthy clientele are also shielded to some extent from the economic concerns that have begun to appear in consumer data.

On the strength of its first-half results and robust order book, Ferrari said that it now expects to report earnings per share between 4.80 euros and 4.90 euros ($4.89 and $4.99) for the full year, on revenue of roughly 4.9 billion euros. It had previously told investors…

Read more at www.cnbc.com

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