Sunday , November 29 2020

Ferrari quarter below expectations: red title



that Ferrari's third quarter it disappointed almost all analyst expectations and, consequently, had a very positive impact on the company's stock performance.

Today, about six days after the publication of the FCA account, the little horse also announced the economic and financial results achieved over the past three months.

At 15.30, quarterly Ferrari will be commented on by management during a conference call, but the surprise will be very little to remember new 2018 guide has been revised on the occasion of capital market days.

Ferrari Quarter: all data

According to what emerged, the third quarter of this year closed with a 10.6% increase in shipments, thus jumping to 2,262 units. Uphill, even if it's simpler 0.3% (2.2% at a constant exchange rate) also i income, now at 838 million below estimates.

Adjusted EBIT of 278 million euros, meanwhile net profit up from 141 to 146 million. Above expectations, only the debt figure fell to 372 million.

Estimated Mediobanca and consensus

According to analyst Mediobanca Securities, Cavallino should have closed the third quarter of this year with an increase income, up from 836 million in the same period in 2017 to 870 million euros.

Investment banks also estimate an increase in ebitda from 266 to 278 million, as well as a net profit up from 141 million to 270 million euros, including 139 million Patent Boxes.

All in the face of a consensus, which he had predicted:

  • a EBITDA from 266 to 281 million
  • income: 873 million
  • a limit from 31.8% to 32.2%
  • a net profit from 141 to 183 million euros
  • a debt from 486 to 411 million

Waiting for the quarter, Ferrari's shares have exchanged little progress of 0.34% in Milan and have traveled around € 104.60. At the time of writing, after the publication of the account, the stock lost 1.7% to 102.45.


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