Ferrari

Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm's models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One. The company was founded by Enzo Anselmo Ferrari in 1939 and is headquartered in Maranello, Italy.

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Ferrari N.V. (NYSE:RACE ) Q1 2024 Earnings Conference Call May 7, 2024 9:00 AM ET Company Participants Nicoletta Russo - Head of Investor Relations Benedetto Vigna - Chief Executive Officer Antonio Picca Piccon - Chief Financial Officer Conference Call Participants George Galliers - Goldman Sachs John Murphy - Bank of America Tom Narayan - RBC Capital Markets Monica Bosio - Intesa SanPaolo Adam Jonas - Morgan Stanley Michael Binetti - Evercore ISI Stephen Reitman - Bernstein SG Anthony Dick - ODDO BHF Martino de Ambroggi - Equita Gianluca Bertuzzo - Intermonte SIM Thomas Besson - Kepler Cheuvreux Gabriele Gambarova - Banca Akros Henning Cosman - Barclays Operator Good day and thank you for standing by.

Ferrari N.V. (RACE) Q1 2024 Earnings Call Transcript

Ferrari (RACE) shares fell in intraday trading Tuesday after the luxury car maker's shipped vehicles were roughly flat in the first quarter, even as earnings topped expectations.

Ferrari Falls Despite Earnings Beat as Shipments Remain Flat

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Ferrari (NYSE:RACE) fell over 3% on Tuesday after sticking with guidance despite reporting double-digit revenue and profit growth for the first quarter. Adjusted earnings climbed 12.7% to €605 million over the three months to March, Ferrari reported, as margins expanded from 37.6% to 38.2%.

Ferrari shares fall as guidance held despite better profit

Luxury supercar maker Ferrari reported positive earnings for Q1 2024 today, proving that companies which cater to the rich and famous have had far less of the inflationary pressures of other brands. Encouraging sales from the12Cilindri and 12Cilindri Spider models, as well as a higher percentage of clients personalising their already bespoke vehicles, were great contributors.

Ferrari reports double digit profits and revenues in earnings today, reaffirms 2024 guidance

Ferrari said on Tuesday its core earnings rose 13% in the first quarter of the year as the luxury sports car maker was supported by pricing power and product mix, as well as by a greater contribution from personalisation.

Ferrari's core earnings rose in Q1, sticks to FY guidance

Robust Mix Sustained a Strong Start to the Year Net revenues of Euro 1,585 million, up 10.9% versus prior year, with total shipments of 3,560 units $1flat versus Q1 2023 Adjusted EBIT(1) of Euro 442 million, up 14.8% versus prior year, with adjusted EBIT(1) margin of 27.9% Adjusted net profit(1) of Euro 352 million and adjusted diluted EPS(1) at Euro 1.95 Adjusted EBITDA( 1 ) of Euro 605 million, up 12.7% versus prior year, with adjusted EBITDA(1) margin of 38.2% Industrial free cash flow(1) generation of Euro 321 million “The start of the year was very positive: revenues and profits recorded double-digit growth with stable deliveries. This was achieved through an even stronger product and country mix as well as a greater contribution from personalizations.

Robust Mix Sustained a Strong Start to the Year

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Luxury sports car maker Ferrari has unveiled two new models, the 12Cilindri and the 12Cilindri Spider, appealing to lovers of its most powerful roaring petrol engines.

Ferrari appeals to traditional base with two new V12 cars

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Hewlett Packard Enterprise Co (NYSE:HPE, ETR:2HP) shares moved higher after it was announced the information technology company has entered into a multi-year partnership with Ferrari (NYSE:RACE) to become the title sponsor of its car racing teams, including for Formula 1 (F1). The two companies announced on Wednesday that the HP logo will debut on Maranello F1 cars ahead of the Miami Grand Prix, scheduled for May 3 to 5, when the team will start competing under its new team name Scuderia Ferrari (NYSE:RACE) HP.

Ferrari and HP strike multi-year F1 sponsorship deal

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Maranello (Italy), April 24, 2024 – Ferrari N.V. (NYSE/EXM: RACE) announces that Ferrari S.p.A., wholly-owned Italian subsidiary of Ferrari N.V., today has signed a multiyear partnership agreement with HP Inc. (NYSE: HPQ), through which its brand will appear on racing properties of Scuderia Ferrari.

Ferrari enters into a partnership agreement with HP

New York, New York--(Newsfile Corp. - April 23, 2024) - Ferrari Challenge Europe is set for an exciting race at the Mugello Circuit, with notable participant Laura Villars among the lineup. Scheduled from May 1st to May 5th, this event promises to deliver thrilling motorsport action.

Ferrari Challenge Europe Set to Thrill at Mugello with Laura Villars Among Competitors

Ford believes its Pro commercial business will provide an earnings boost thanks to the power of connectivity, data, and software.

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Volkswagen holds keys to Porsche's race against Ferrari

Maranello (Italy), April 22, 2024 - Ferrari N.V. (“Ferrari”) (NYSE/EXM: RACE) announced today that its financial results for the first quarter of 2024 will be released on Tuesday, May 7, 2024.

FERRARI TO ANNOUNCE FIRST QUARTER 2024 FINANCIAL RESULTS ON MAY 7

Benedetto Vigna has been Ferrari's CEO since 2021, overseeing the company's transition to EVs. His background is in tech, with previous experience as an executive at a semiconductor company.

Ferrari's CEO likes to run the luxury car company like a tech startup

Maranello  (Italy), 17 April 2024 - Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/EXM: RACE) announced today that all resolutions proposed to Shareholders at the Ferrari's Annual General Meeting of Shareholders (the “AGM”) held today in Amsterdam, the Netherlands, were passed.

Ferrari Announces Voting Results From Its Annual General Meeting

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Ferrari's (RACE) new laboratory is dedicated to the research of lithium battery cells.

Ferrari (RACE) Introduces Innovative Battery Research Lab

Investors with an interest in Automotive - Original Equipment stocks have likely encountered both Modine (MOD) and Ferrari (RACE). But which of these two companies is the best option for those looking for undervalued stocks?

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Ferrari wants to increase its expertise in battery cells given their importance in its shift to electrified vehicles, but it has no plans to manufacture them itself, its CEO Benedetto Vigna said on Monday.

News for Ferrari Stock (RACE)