Ferrari quarterly earnings rise 5%, boosted by V-8 sales




The Portofino led sales of Ferrari’s V-8 models last month.

MILAN — Ferrari third-quarter core earnings rose 4.7 percent, helped by positive performance from across its markets and strong sales of V-8 models, the automaker said in a statement.

Adjusted earnings before interest, tax, depreciation and amortization for the July-September period rose to 278 million euros ($316 million) from 266 million.

Sales were roughly flat at $954 million.

Ferrari’s vehicle sales were driven by an 11 percent increase in demand for V-8 models led by the Ferrari Portofino. Sales of V-12 models, led by the 812 Superfast, rose 7.9 percent.

The supercar maker, spun off from parent Fiat Chrysler Automobiles, has had a run of record earnings, helped by special-edition models and a customization program.

Investors are looking for reassurance the company can maintain its strong growth achieved under late boss Sergio Marchionne, who more than doubled the value of the group since he took it public in 2015.

The unchanged forecast for 2018 earnings of at least 1.1 billion euros leaves Ferrari with “an undemanding fourth quarter [flat year-on-year] to meet the low end of this year’s guide,” Evercore ISI analyst George Galliers said in a note.

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