Ferrari Q1 Net Profit Rises 16%; Maintains FY22 Outlook

(RTTNews) - Italian luxury sports carmaker Ferrari N.V. (RACE) reported Wednesday that its net profit for the first quarter increased to 239 million euros or 1.29 euros per share from 206 million euros or 1.11 euros per share in the prior-year quarter.

Net revenues for the quarter increased 17.3 percent to 1.19 billion euros from 1.01 billion euros in the same quarter last year. Net revenue grew 16.6 percent at constant currency.

Shipments for the quarter totaled 3,251 units, up 480 units or 17.3 percent from last year, driven by the Ferrari Roma and the SF90 family, together with the Portofino M. The first deliveries of the 812 Competizione also commenced.

Looking ahead for fiscal 2022, Ferrari continues to expect adjusted earnings in a range of 4.55 to 4.75 euros per share on net revenues of approximately 4.8 billion euros.