Ferrari posts strong 3rd-quarter earnings, but stock slides pre-market on lack of full-year guidance
- Ferrari posted strong third-quarter earnings.
- Ferrari disappointed on full-year guidance for 2018.
- Watch Ferrari trade live.
Ferrari announced third-quarter core earnings on Monday.
They rose almost 5%, helped by positive performance from across its regions and strong sales of 8-cylinder models, Reuters reported.The news outlet reported that "[a]djusted earnings before interest, tax, depreciation and amortization (EBITDA) for July-September period rose to 278 million euros ($316 million) from 266 million, compared with 282 million euros analysts consensus, according to Refinitiv data."
But Ferrari stock declined in pre-market trading Monday, down almost 2% to $117.44. The automaker did not make any statements about improved full-year guidance.
Year-to-date, Ferrari shares are up over 11%, bu down from their trading highs.