Ferrari Lifts Full-Year Guidance on Q2 Shipment Growth

Ferrari (RACE) boosted its full-year guidance erstwhile delivering second-quarter results that topped gross expectations connected Thursday.

The Italian automaker now projects 2024 nett gross of much than 6.55 cardinal euros ($7.07 billion), up from much than EUR6.4 billion, and adjusted earnings per stock (EPS) of astatine slightest EUR7.90, up from astatine slightest EUR7.50. 

Quarterly Revenue Beat Estimates

In nan 2nd quarter, Ferrari's gross jumped 16.2% year-over-year to EUR1.71 cardinal and shipments roseate by 2.7% to 3,484 units. Analysts had called for EUR1.6 cardinal successful gross and 3,471 units shipped, per Visible Alpha. 

The Ferrari Purosangue, nan Roma Spider, and nan 296 GTS led shipments successful nan quarter, pinch Chief Executive Officer (CEO) Benedetto Vigna pointing to "the enrichment of nan merchandise operation and nan accrued request for personalizations" for nan beardown quarterly results.

Ferrari shares roseate 1.5% to $419.08 arsenic of 1:30 p.m. ET Thursday. They are up astir 24% this year.