Ferrari Posts Record 3Q Results, Boosts 2017 Guidance; Maintaining EUR 50 FVE
Wide-moat-rated Ferrari, maker of exotic performance sports cars and Formula 1 racer, reported record results for the third quarter with earnings per share before special items of EUR 0.74 beating the EUR 0.68 consensus by EUR 0.06 and year-ago EPS of EUR 0.46 by EUR 0.28. Management raised full-year guidance for revenue and adjusted EBITDA. Revenue guidance was raised to “approximately†EUR 3.4 billion from “greater than†EUR 3.3 billion. Adjusted EBITDA (excludes special items) was bumped up t...
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