Ferrari raises forecasts after record third quarter earnings
MILAN — Italian luxury sports car maker Ferrari NV revised its earnings guidance upward on Monday after reporting a record third-quarter profit of 113 million euros ($126 million), up 20 percent over last year.
The company, based in the northern Italian city of Maranello, raised its estimate for full-year earnings before interest, taxes and amortization to above 850 million euros, from above 800 million euros previously. It lowered its estimated debt at the end of the year to below 700 million euros.