Ferrari raises 2019 outlook after solid third-quarter results, shares jump
Reuters
Published Nov 04, 2019 07:07AM ET
Ferrari raises 2019 outlook after solid third-quarter results, shares jump
By Refiles with no changes to text
MILAN (Reuters) - Ferrari (MI:RACE) raised guidance for full-year results on Monday after what the Italian luxury carmaker described as "solid" results on all metrics in the third quarter on the back of strong sales of its Portofino and 812 Superfast models.
The company said its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) would come at around 3.7 billion euros ($4.1 billion) this year, topping a previous forecast of more than 3.5 billion euros.
Milan-listed shares in Ferrari rose as much as 5.6% after results were published and were up 4.8% by 1150 GMT
(This story corrects adj EBITDA guidance figures in 2nd paragraph)
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