Ferrari Backs Guidance After No Major Impact From Tariffs

By Dominic Chopping

Ferrari backed its full-year guidance as it revealed it has had no significant impact from the introduction of new import tariffs on EU cars into the U.S. during the second quarter.

The Italian sports car maker had previously outlined plans to counter tariffs with price increases of up to 10% for models other than the 296, Roma and SF90, but had cautioned that 50 basis points of its guided profitability this year was subject to tariff risk.

However, in its update Thursday, it said it had removed the tariff-risk guidance after the recent deal agreed to between the U.S. and European Union. It now forecasts lower industrial costs in the second part of the year versus initial expectations.

Ferrari reported net profit of 425 million euros ($484.8 million) in the second quarter, up from 413 million euros in the same quarter last year as revenue rose 4.4% to 1.79 billion euros.

It shipped 3,494 vehicles to customers, 10 more than a year earlier.

Analysts polled by FactSet had forecast 1.83 billion euros in revenue, while a FactSet consensus had shipments at 3,523 units.

Write to Dominic Chopping at dominic.chopping@wsj.com