-=Ferrari (RACE) reported earnings on Thur 31 Jan 2019 (b/o)

Ferrari beats by EUR0.19, misses on revs; guides FY19 EPS above consensus, revs in-line 

• Reports Q4 (Dec) earnings of 1.00 per share, 0.19 better than the S&P Capital IQ Consensus of 0.81; revenues rose 0.6% year/year to 845 mln vs the 866.97 mln S&P Capital IQ Consensus.
  • Shipments increased to 2,398 from 2,017 one year ago. Shipment growth was registered in all four geographical segments
  • Net industrial debt decreased to EUR340 million from EUR473 million one year ago.
• Co issues guidance for FY19, sees EPS of EUR3.50 to EUR3.70 vs. 3.48 S&P Capital IQ Consensus; sees FY19 revs of at least EUR3.50 bln vs. 3.67 bln S&P Capital IQ Consensus.
  • Adjusted EBITDA expected between EUR1.20 bln and EUR1.25 bln
  • Industrial cash flow expected around EUR450 mln