Ferrari (RACE) Misses Q3 EPS by 5c; Shipments Rose 1.5%

Ferrari (NYSE: RACE) reported Q3 EPS of EUR0.50, EUR0.05 worse than the analyst estimate of EUR0.55. Revenue for the quarter came in at EUR723 million versus the consensus estimate of EUR845.59 million.

• Total shipments reached 1,978 units, up 29 units (+1.5%)
• Adjusted EBITDA(1) of Euro 234 million, margin now at 30%
• Adjusted EBIT(1) of Euro 172 million, 260 bps margin increase to 22%
• Net profit up 20% to Euro 113 million
• Net industrial debt([1]) reduced to Euro 585 million, better than June 2016

For earnings history and earnings-related data on Ferrari (RACE) click here.

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