Ferrari sticks to 2021 targets after strong Q2

Reuters2021-08-02

MILAN (Reuters) -Ferrari stuck to its main 2021 targets on Monday, despite tripling second-quarter core profits as shipments recovered from pandemic-hit trading in the same period last year.

The luxury carmaker increased its industrial free cash flow guidance to around 450 million euros ($535 million) this year, up from its previous forecast of around 350 million euros.

But it left forecasts for net revenues and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) unchanged, despite saying earlier this year it was “confident” of reaching the top end of its 2021 guidance.

Milan-listed shares in Ferrari turned negative after the results were published, and were down 2.8% at 1100 GMT, the worst performers in Italy’s blue chip index.

In the second quarter, Ferrari’s adjusted EBITDA came in at 386 million euros, from 124 million euros a year earlier.

The result was just ahead of analysts’ expectations of 373 million euros, according to a Reuters poll.

($1 = 0.8412 euros)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

WinWinWinner
2021-08-02
WinWinWinner
Well..
Jagath
2021-08-02
Jagath
Ohoh

Leave a comment

2

58

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1159974089?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-08-02 20:22","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1159974089","market":"us","top_or_hot":-1,"title":"Ferrari sticks to 2021 targets after strong Q2","media":"Reuters","content":"<p>MILAN (Reuters) -Ferrari stuck to its main 2021 targets on Monday, despite tripling second-quarter core profits as shipments recovered from pandemic-hit trading in the same period last year.</p>\n<p>The luxury carmaker increased its industrial free cash flow guidance to around 450 million euros ($535 million) this year, up from its previous forecast of around 350 million euros.</p>\n<p>But it left forecasts for net revenues and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) unchanged, despite saying earlier this year it was “confident” of reaching the top end of its 2021 guidance.</p>\n<p>Milan-listed shares in Ferrari turned negative after the results were published, and were down 2.8% at 1100 GMT, the worst performers in Italy’s blue chip index.</p>\n<p>In the second quarter, Ferrari’s adjusted EBITDA came in at 386 million euros, from 124 million euros a year earlier.</p>\n<p>The result was just ahead of analysts’ expectations of 373 million euros, according to a Reuters poll.</p>\n<p>($1 = 0.8412 euros)</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ferrari sticks to 2021 targets after strong Q2</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFerrari sticks to 2021 targets after strong Q2\n</h2>\n\n<h4 class=\"meta\">\n\n2021-08-02 20:22 北京时间&nbsp;&nbsp;&nbsp;<strong>Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MILAN (Reuters) -Ferrari stuck to its main 2021 targets on Monday, despite tripling second-quarter core profits as shipments recovered from pandemic-hit trading in the same period last year.\nThe ...</p>\n\n<a href=\"None\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RACE","symbol_name":"法拉利","start_time":0,"source_url":null,"article_id":"1159974089","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1159974089","pubTimestamp":1627906975,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"MILAN (Reuters) -Ferrari stuck to its main 2021 targets on Monday, despite tripling second-quarter c","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"RACE":"法拉利"},"translate_title":"法拉利在强劲的Q2后坚持2021年的目标","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RACE":0.9},"content_text":"MILAN (Reuters) -Ferrari stuck to its main 2021 targets on Monday, despite tripling second-quarter core profits as shipments recovered from pandemic-hit trading in the same period last year.\nThe luxury carmaker increased its industrial free cash flow guidance to around 450 million euros ($535 million) this year, up from its previous forecast of around 350 million euros.\nBut it left forecasts for net revenues and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) unchanged, despite saying earlier this year it was “confident” of reaching the top end of its 2021 guidance.\nMilan-listed shares in Ferrari turned negative after the results were published, and were down 2.8% at 1100 GMT, the worst performers in Italy’s blue chip index.\nIn the second quarter, Ferrari’s adjusted EBITDA came in at 386 million euros, from 124 million euros a year earlier.\nThe result was just ahead of analysts’ expectations of 373 million euros, according to a Reuters poll.\n($1 = 0.8412 euros)","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":804071762,"gmtCreate":1627914003356,"gmtModify":1703497811042,"author":{"id":"4087135069921330","authorId":"4087135069921330","authorIdStr":"4087135069921330","name":"WinWinWinner","avatar":"https://static.tigerbbs.com/f5a6398d7deab122ba51b03c6952afeb","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087135069921330"},"htmlText":"Well..","listText":"Well..","text":"Well..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/804071762","repostId":1159974089,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":804007675,"gmtCreate":1627911143197,"gmtModify":1703497690596,"author":{"id":"4090190459838320","authorId":"4090190459838320","authorIdStr":"4090190459838320","name":"Jagath","avatar":"https://static.tigerbbs.com/6f6d04b91f02b623beb7c20e1eb1f9ed","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4090190459838320"},"htmlText":"Ohoh","listText":"Ohoh","text":"Ohoh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/804007675","repostId":1159974089,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":58,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1159974089"}