Ferrari Profit Surges 60% as Sales of V12 Cars Soar [The Motley Fool]
Ferrari N.V. Common Shares (RACE)
Last ferrari n.v. common shares earnings: 2/4 05:58 am
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Source: The Motley Fool
A big jump in sales of Ferrari's most powerful and profitable models drove a fat first-quarter profit. Ferrari N.V. ( NYSE:RACE ) , the iconic Italian maker of sports and racing cars, reported a 60% increase in first-quarter net profit -- and an eye-popping 22% operating profit margin -- on strong sales of some of its highest-powered and highest-priced models. Ferrari's revenue and profit both exceeded analyst expectations, and shares rose sharply after the news was released before the bell on May 4. The historic entrance to Ferrari's factory and headquarters in Maranello, Italy. Image source: Ferrari N.V. Ferrari earnings: The raw numbers All financial numbers are shown in euros. As of May 4, 1 euro = about $1.09 U.S Dollars. Metric Q1 2017 Q1 2016 Change Revenue 821 million 675 million 22% Vehicles shipped 2,003 1,882 6% Earnings before interest and tax (EBIT) 177 million 121 million 46% EBIT margin 21.6%
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News
- Ferrari: Valuation Revving Up Into The Red RPM Zone [Seeking Alpha]Seeking Alpha
- FERRARI TO ANNOUNCE FIRST QUARTER 2024 FINANCIAL RESULTS ON MAY 7GlobeNewswire
- Ferrari (NYSE: RACE) had its "overweight" rating re-affirmed by analysts at Morgan Stanley. They now have a $400.00 price target on the stock.MarketBeat
- Ferrari (NYSE: RACE) had its price target raised by analysts at Evercore ISI from $430.00 to $465.00. They now have an "outperform" rating on the stock.MarketBeat
- Ferrari N.V.: Periodic Report on the Buyback ProgramGlobeNewswire
RACE
Earnings
- 2/1/24 - Beat
RACE
Sec Filings
- 4/22/24 - Form 6-K
- 4/22/24 - Form 6-K
- 4/17/24 - Form 6-K
- RACE's page on the SEC website