Finance
Ferrari earnings q3 strong, stock slides lack of full-year guidance
Benjamin Zhang/Business Insider
Ferrari announced third-quarter core earnings on Monday.
They rose almost 5%, helped by positive performance from across its regions and strong sales of 8-cylinder models, Reuters reported.
The news outlet reported that “[a]djusted earnings before interest, tax, depreciation and amortization (EBITDA) for July-September period rose to 278 million euros ($316 million) from 266 million, compared with 282 million euros analysts consensus, according to Refinitiv data.”
But Ferrari stock declined in pre-market trading Monday, down almost 2% to $117.44. The automaker did not make any statements about improved full-year guidance.
Year-to-date, Ferrari shares are up over 11%, bu down from their trading highs.
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