Shares in Ferrari (RACE:NYSE) accelerated to fresh highs after
the luxury automaker revved in (2 November) with forecast-beating third quarter sales and earnings and raised guidance once again, extending one and five-year gains to 68% and 205% respectively.

The Italy-headquartered company behind the iconic sportscar brand reported a 46% surge in third quarter profit to €332 and boosted its full year guidance again. Ferrari now expects to drive in with 2023 revenue of roughly €5.9 billion, up from previous guidance of around €5.8 billion, with an adjusted earnings before interest and tax (EBIT) margin of at least 26.5%.

‘Another record quarter with profit growth driven by an even richer mix and by the continuing appeal of personalisations leading us to increase year-end guidance,’ commented CEO Benedetto Vigna. ‘The order book remains at highest levels reflecting strong demand across all geographies, covering the entire 2025.’

Ferrari certainly has momentum and the upcoming release of a movie directed by Michael Mann, and starring the aptly-named Adam Driver as company founder Enzo Ferrari, should only fuel additional interest in the brand behind the iconic ‘Prancing Horse’ logo.

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