Ferrari Q4 Net Profit Rises 13%; Backs FY24 Outlook

(RTTNews) - Italian luxury sports carmaker Ferrari N.V. (RACE) reported Tuesday that its net profit for the third quarter increased to 375 million euros or 2.08 euros per share from 332 million euros or 1.82 euros per share in the prior-year quarter.

Excluding items, adjusted net profit for the quarter was 375 million euros or 2.08 euros per share.

Net revenues for the quarter increased 6.5 percent to 1.64 billion euros from 1.54 billion euros in the same quarter last year.

Shipments for the quarter totaled 3,383 units, down 76 units or 2 percent from last year.

Looking ahead for fiscal 2024, Ferrari continues to project adjusted earnings of equal to or greater than 7.90 euros per share on net revenues of more than 6.55 billion euros.

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