Ferrari N.V (RACE) Tops Q2 EPS by 6c, provides Guidance

Ferrari N.V (NYSE: RACE) reported Q2 EPS of EUR2.29, EUR0.06 better than the analyst estimate of EUR2.23. Revenue for the quarter came in at EUR1.71 billion versus the consensus estimate of EUR1.76 billion.

Guidance:
FY 2024:
Net Revenue: > € 6.55 billion, versus the consensus of € 6.524 billion.
Adj. Diluted EPS: €7.90, versus consensus of €7.78

“We are delighted to announce excellent financial results in the second quarter of 2024, which demonstrate again a strong execution and continued growth. Our net revenues and profitability were up double digit, sustained by the enrichment of the product mix and the increased demand for personalizations, which led us to upgrade our 2024 guidance” said Benedetto Vigna, CEO of Ferrari. “The quarter was also marked by the inauguration of our new e-building, during a week of events dedicated to sustainable innovation with our stakeholders, and the new victory at the 24 Hours of Le Mans”.

For earnings history and earnings-related data on Ferrari N.V (RACE) click here.

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