Ferrari Posts Solid 2Q Results, Management Confirms Guidance: EUR 62 FVE Maintained
Wide-moat-rated Ferrari, Formula 1 racer and maker of ultraluxury and exotic sports cars, reported earnings per share before special items of EUR 0.84, EUR 0.03 better than the sell-side consensus of EUR 0.81 and EUR 0.12 higher than the year-ago EPS result. Revenue skidded 2% to EUR 906 million while EBITDA jumped 7% to EUR 290 million with roaring margin expansion of 260 basis points to a breakneck 32.0% versus the prior year, respectively. Excluding negative currency translation, revenue woul...
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