The Ferrari SP38 was spotted at the 2022 Goodwood Festival of Speed on June 23 in Chichester, England.
Martyn Lucy | Getty Images
Ferrari raised its guidance for 2022 after reporting record second-quarter results amid unprecedented demand for its sports cars and high-priced grand tours.
The Italian supercar maker has been largely immune to the supply chain disruptions that have forced larger automakers to cut production over the past several quarters, thanks to its low sales volumes. Ferrari’s affluent clientele is also somewhat shielded from the economic worries that are beginning to show in consumer data.
On the strength of first-half results and a strong order book, Ferrari said it now expects to report earnings per share of between 4.80 euros and 4.90 euros ($4.89 and $4.99) for the full year, on revenue of around 4.9 billion euros. . It had previously told investors to expect full-year earnings per share to fall between 4.55 euros and 4.75 euros, on revenue of about 4.8 billion euros.
Ferrari’s second-quarter profit, revenue and shipments all rose more than 20% from a year earlier to 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, against 1.11 euros in the second quarter of 2021.
- Income: 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, with strong demand for its V8-powered Portofino M sports car and mid-engined F8. The company also confirmed that it has started production of its new V6-powered 296 GTB hybrid sports car.
