Ferrari Raises FY23 Guidance On Q2 Earnings Beat, Solid Order Book
Portfolio Pulse from Shivani Kumaresan
Ferrari NV (NYSE:RACE) reported a 14% YoY increase in Q2 FY23 sales to $1.61 billion, beating the analyst consensus of $1.58 billion. The company's car and spare parts revenue rose 15% YoY, while engine revenue decreased by 33%. Adjusted EBITDA rose 31.9% YoY to €589 million, and net profit increased 33% to €334 million. Ferrari raised its FY23 net revenue guidance from about €5.7 billion to about €5.8 billion and its adjusted EPS guidance from €6.00 - €6.20 to €6.25 - €6.40.
August 04, 2023 | 11:56 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Ferrari reported strong Q2 FY23 results, beating sales estimates and raising its FY23 guidance. However, the stock is trading lower.
Ferrari's strong Q2 FY23 results and raised FY23 guidance indicate a positive outlook for the company. However, despite the positive news, the stock is trading lower, which could be due to market factors or investor sentiment. This could potentially create a buying opportunity for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100