Ferrari N.V (RACE) drops 10% on CMD updates

Ferrari N.V (NYSE: RACE) is down 10% in premarket U.S. trade on updates from today's Capital Markets Day. Down 11.5% in Milano trade.

Guidance update according to Bloomberg:

• Sees adjusted Ebitda at least EU2.72 billion, saw at least EU2.68 billion, estimate EU2.73 billion
• Sees adjusted Ebit at least EU2.06 billion, saw at least EU2.03 billion, estimate EU2.07 billion
• Sees adjusted diluted EPS at least EU8.80, saw at least EU8.60, estimate EU8.90
• Sees industrial free cash flow at least EU1.3 billion, saw at least EU1.2 billion, estimate EU1.41 billion
• Sees revenue at least EU7.1 billion, saw above EU7 billion, estimate EU7.09 billion
• To Increase Div Payout to 40% of Net Starting From 2025
• Sees 2030 net revenue of about EU9 billion
• Sees 2030 adj. Ebitda of at least EU3.60 billion
• Says exceeding the 2026 business plan’s profitability targets one year in advance
• Sees 2030 adj. Ebit of at least EU2.75 billion
• Sees 2030 adj. EPS of at least EU11.50

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