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Ferrari nudges ups forecasts for FY again after beating estimates in Q3
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MILAN (Reuters) — Luxury sports car maker Ferrari (NYSE:RACE) on Thursday slightly raised its forecasts for its full-year core earnings, after beating estimates with its third quarter results thanks to strong pricing power and product mix, including personalisation.
The Italian company said in a statement it saw its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) growing this year to at least 2.25 billion euros ($2.39 billion), versus a previous and already improved forecast of between 2.19 and 2.22 billion euros.
Milan-listed shares in the company trimmed gains after results were published and were up 1.6% by 1150 GMT.
($1 = 0.9406 euros)
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