Ferrari increased the guidance for 2022 following the quarter record

August 4, 2022: -Ferrari increased its recommendation after registering record results for the second quarter between the unprecedented need for its high-priced sports and grand touring cars.

The Italian supercar maker has lived resistant especially to the supply chain disruptions that caused larger automakers to reduce production over the previous quarters. This is palpable in its short sales volumes.

Ferrari’s wealthy clientele are shielded from the economic concerns that have started to appear in consumer data.

Based on its first-half results and complete order book, Ferrari expects to report earnings for each share between 4.80 euros and 4.90 euros for the entire year, on revenue of 4.9 billion euros.

It had told investors to expect full-year earnings for each share to be between 4.55 euros and 4.75 euros on revenue of nearly 4.8 billion euros.

Ferrari’s second-quarter earnings, revenue, and shipments rose more than 20% from a year ago to quarterly records. Its net charge intake struck a record level in the quarter, said CEO Benedetto Vigna in a statement.

Ferrari is exporting 3,455 vehicles in the quarter, up 29% from a year ago, on strong demand for its V8-powered Portofino M convertible and F8 mid-engine sports car. The company assured that it’d begun production of its new V6-powered hybrid 296 GTB sports car.