Ferrari Q4 Net Profit Rises 33%; Initiates FY24 Outlook

(RTTNews) - Italian luxury sports carmaker Ferrari N.V. (RACE) reported Thursday that its net profit for the fourth quarter increased to 294 million euros or 1.62 euros per share from 221 million euros or 1.21 euros per share in the prior-year quarter.

Net revenues for the quarter increased 11 percent to 1.52 billion euros from 1.37 billion euros in the same quarter last year.

Shipments for the quarter totaled 3,245 units, down 82 units or 2 percent from last year.

Looking ahead for fiscal 2024, Ferrari now projects adjusted earnings in the range of about or greater than 7.50 euros per share on net revenues of more than 6.4 billion euros.

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