Ferrari Q4 Net Profit Surges 58%; Initiates FY21 Outlook - Quick Facts

(RTTNews) - Ferrari N.V. (RACE) reported Tuesday that its net profit for the fourth quarter surged 58 percent to 263 million euros or 1.41 euros per share from 166 million euros or 0.90 euros per share in the prior-year quarter.

Excluding items, adjusted net profit for the quarter was 188 million euros or 1.01 euros per share, compared to 166 million euros or 0.90 euros per share in the year-ago quarter.

Net revenues for the quarter increased 15 percent to 1.07 billion euros from 927 million euros in the same quarter last year. Shipments totaled 2,679 units, up 303 units or 13 percent from last year.

Looking ahead for fiscal 2021, Ferrari expects adjusted earnings per share of 4.00 euros to 4.20 euros, adjusted EBITDA of 1.45 billion euros to 1.50 billion euros, and net revenues of approximately 4.3 billion euros.