Ferrari Beats Estimates with 5% Core Earnings Rise in Third Quarter

Reuters

11/04

MILAN, Nov 4 (Reuters) - Luxury sports-car maker Ferrari said on Tuesday its core earnings rose 5% in the third quarter, above expectations, thanks to a strong pricing power supported by models such as the SF90 XX and 12Cilindri, as well as increased personalisations.

The Italian company said its earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 670 million euros ($781 million) in the July-September period, topping an analysts' consensus of 649 million euros in a Reuters poll.

US-listed shares of Ferrari rose 2.2% in premarket trading.

($1 = 0.8575 euros)

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