Ferrari lifts profit forecast after strong Q3, keeps cautious stance on margins

Ferrari is improving its forecasts for full-year results after beating expectations in Q3, supported by a double-digit increase in shipments.

said on Wednesday it was improving its forecasts for full-year results, including for core earnings, after beating expectations in the third quarter, supported by a double-digit increase in shipments.

The company however struck a more cautious tone on the margin on those core earnings, now seen at around 35% for this year, versus a previous guidance of over 35%. It said industrial costs and research and development expenses increased in the past quarter mainly due to higherFerrari said its adjusted earnings before interest, tax, depreciation and amortization would grow this year to over 1.73 billion euros , versus an already improved forecast of 1.70-1.73 billion euros it provided three months ago.listed shares in Ferrari fell as much as 2.4%. By 1235 GMT they were down 1.4%.

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