“Ferrari Boosts Outlook Once More as Customers Embrace Pricey, Customized Sports Cars”

Ferrari, the iconic maker of dream machines, has hit the gas pedal on its profits, and it’s not just because of their powerful engines. In the third quarter of this year, their profits roared ahead by a whopping 46%, leaving everyone else in the dust. So, what’s the secret sauce behind this turbocharged success story? Well, it’s all about “personalization.”

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Horsepower and Personal Flair

If you thought Ferraris were just about speed and style, think again. These days, it’s all about personalization. That’s right, when you’re spending a small fortune on a Ferrari, you want it to be uniquely yours. From the paint job to the interior materials, you can pretty much make it the car of your dreams. The more personal touches you add, the more expensive the ride becomes. But hey, it’s all worth it, and it’s driving up Ferrari’s profits.

Revving Up the Numbers

Ferrari’s not just revving up its cars; they’re revving up their financial expectations too. They’re predicting a whopping 5.9 billion euros (that’s about $6.3 billion in fancy money) in revenue for 2023. And they’re not stopping there. Per-share profit is expected to be at least 6.55 euros. And when it comes to their earnings before interest and tax, they’re eyeing a margin of at least 26.5%. Not bad for a company known for fast cars, right?

CEO Benedetto Vigna is pretty thrilled, and he should be. He’s got a whole lot of cars to sell. See, the demand for Ferraris is through the roof, with orders stacking up like a traffic jam during rush hour. People want their Ferraris, and they want them personalized, no less!

Vrooming into the Future

In recent years, Ferrari has expanded its menu of choices for customers. You can pick your paint, your interior materials, and more. It’s like designing your own supercar. Of course, all those options can add a pretty penny to the price tag, and that’s music to Ferrari’s ears. The more you customize, the more they earn. It’s a win-win for everyone, right?

The Finer Details

In case you’re into numbers as much as you’re into cars, here are the key takeaways from Ferrari’s latest earnings report:

• Earnings per share: 1.82 euros (Wall Street was only expecting 1.60 euros!)
• Revenue: 1.54 billion euros (beating the expected 1.47 billion euros)

So, Ferrari’s not just zooming ahead; they’re leaving analysts in their rearview mirror.

The Quarter in the Rearview

During the third quarter of this year, Ferrari was on fire. They reported a net profit of 332 million euros, or 1.82 euros per share. That’s a 46% jump from last year. Their EBIT margin, a fancy term for profit margin, also went up to 27.4%, compared to 23.9% in the same quarter last year. It’s clear they’re not just racing; they’re racing ahead of the competition.

Delivery Delight

Ferrari shipped 3,459 vehicles in the third quarter, which is 9% more than last year. It’s not because they suddenly learned how to teleport cars; it’s all about their clever planning. The demand for their cars is strong, and their order book is bulging, all the way through 2025.

Global Appeal

Ferrari is loved all around the world, and their deliveries reflect that. They’ve seen an increase in Europe and North and South America, while China lagged a bit, and Asia-Pacific remained steady. It’s like a global race where everyone’s a winner.

Hybrid Happiness

And if you thought Ferrari was stuck in the past, think again. They’re embracing the future with their hybrid models, accounting for a cool 51% of their shipments. It’s not just about speed anymore; it’s about speed and efficiency.

So there you have it, folks. Ferrari is racing ahead, not just on the track but also in the world of profits. They’re the kings of personalization, and it seems like everyone wants a piece of the action. Who wouldn’t want a car that’s not just fast but uniquely theirs? It’s a ride worth every penny and every smile.