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Ferrari (RACE) results and forecasts for the second quarter of 2022


The Ferrari SP38 seen at the 2022 Goodwood Festival of Speed ​​on June 23 in Chichester, England.

Martyn Lucy | Getty Images

Ferrari has raised its guidance for 2022 after announcing record second-quarter results amid unprecedented demand for its high-priced sports and grand touring cars.

The Italian supercar maker has been largely immune to supply chain disruptions that have forced major automakers to cut production in recent quarters, thanks to its low sales volumes. Ferrari’s affluent clientele are also somewhat shielded from the economic concerns that have started to show up in consumer data.

Buoyed by its first-half results and strong order book, Ferrari said it now expects to post earnings per share of between 4.80 euros and 4.90 euros ($4.89 and 4. $99) for the full year, on revenue of approximately 4.9 billion euros. He previously told investors to expect full-year earnings per share to be between 4.55 euros and 4.75 euros, on revenue of around 4.8 billion euros.

Ferrari’s second-quarter profits, revenue and deliveries all rose more than 20% from a year ago to hit quarterly records. Its net order intake also hit a record high in the quarter, CEO Benedetto Vigna said in a statement.

Here are the key numbers:

  • Earnings per share: 1.36 euros, compared to 1.11 euros in the second quarter of 2021.
  • Revenue: 1.29 billion euros, compared to 1.04 billion euros in the second quarter of 2021.

Ferrari shipped 3,455 vehicles in the quarter, up 29% from a year ago, on strong demand for its V8-powered Portofino M convertible and mid-engined F8 sports car. The company also confirmed that it has started production of its new V6-powered 296 GTB hybrid sports car.

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