November 06, 2024 – Ferrari has recently released its third-quarter financial report, revealing a revenue of 1.64 billion euros, representing a year-on-year increase of 6.5%. The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at 638 million euros, marking a 7.1% growth compared to the same period last year.
It is worth noting that Ferrari delivered a total of 3,383 vehicles in the third quarter, which is a 2.2% decrease from the corresponding period of the previous year. The product portfolio for this quarter comprised eight internal combustion engine (ICE) models and five hybrid engine models, accounting for 45% and 55% of total shipments, respectively. While deliveries declined in China and the Americas, they rose in Europe and other Asia-Pacific regions.
Looking ahead, Ferrari has expressed “increased confidence” in its performance guidance for the full year 2024. The company anticipates that its revenue will exceed 6.55 billion euros, with an adjusted earnings per share of at least 7.90 euros.
Following the release of the financial report, Ferrari’s share price dipped by 2.9% as the company’s third-quarter earnings and revenue missed analysts’ expectations.
