Ferrari Q4 Net Profit Rises 3%; Initiates FY23 Outlook

(RTTNews) - Italian luxury sports carmaker Ferrari N.V. (RACE) reported Thursday that its net profit for the fourth quarter increased to 221 million euros or 1.21 euros per share from 214 million euros or 1.16 euros per share in the prior-year quarter.

Net revenues for the quarter increased 17 percent to 1.37 billion euros from 1.17 billion euros in the same quarter last year. Net revenue grew 12 percent at constant currency.

Shipments for the quarter totaled 3,327 units, up 378 units or 13 percent from last year.

Looking ahead for fiscal 2023, Ferrari now projects adjusted earnings in the range of 6.00 to 6.20 euros per share on net revenues of approximately 5.7 billion euros.

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