Ferrari: raises 2020 outlook on 'strong momentum'

(CercleFinance.com) - Ferrari raised its outlook for full-year 2020 after the Italian luxury carmaker said performance in 2019 confirmed its "strong momentum.
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The Maranello-based company now expects full-year adjusted diluted EPS of 3.90 euros to 3.95 euros, up from a previous guidance of more than 3.40 euros.

The carmaker said it expects net revenues to be above 4.1 billion euros this year, topping a previous forecast of more than 3.8 billion euros.

In 2019, shipments totaled 10,131 units, up 9.5% year-on-year, giving net revenues of 3.8 billion euros, up 10.1%.

Ferrari's Milan-listed shares were down 1.4% following this publication.

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