Ferrari Q4 Profit Up 40%; Sees Higher Earnings In FY19 - Quick Facts

(RTTNews) - Ferrari N.V. (RACE) on Thursday reported fourth-quarter net profit that grew 40 percent to 191 million euros from 136 million euros in the prior-year quarter. Earnings per share were 1.00 euros, up from 0.71 euros last year.

Adjusted net profit for the quarter was also 191 million euros or 1.00 euros per share, compared to 136 million euros or 0.71 euros per share in the year-ago period. Adjusted EBIT was 195 million euros, an increase of 1 percent year-over-year.

Fourth-quarter net revenues were 845 million euros, up 1 percent from 840 million euros in the year-ago period. Total shipments were 2,398 units, up 381 units or 19 percent from last year.

Looking ahead to fiscal 2019, Ferrari forecast adjusted earnings per share of 3.50 euros to 3.70 euros, adjusted EBITDA of 1.20 billion euros to 1.25 billion euros, and net revenues of more than 3.5 billion euros, which represents growth of over 3 percent compared to 2018. The outlook compares to adjusted earnings of 3.40 euros and net revenues of 3.42 billion euros in fiscal 2018.