MW Ferrari offers cautious guidance. The stock revs higher anyway.
By Steve Goldstein
Ferrari earnings for the fourth quarter top expectations
Sports-car maker Ferrari NV reported a jump in fourth-quarter profit, buoyed by product mix even as shipments grew just 2%.
Ferrari said its fourth-quarter profit jumped 31% to EUR386 million ($399 million), or EUR2.14 per share. Revenue rose 14% to EUR1.74 billion.
Analysts expected earnings of EUR1.87 per share on sales of EUR1.66 billion, according to FactSet.
Ferrari reported a "richer product and country mix as well as increased personalizations."
For 2025, it's targeting adjusted earnings per share above EUR8.60 - weaker than the EUR8.88 consensus - on revenue above EUR7 billion, which lags behind estimates of EUR7.13 billion.
New York-listed Ferrari shares $(RACE)$ (IT:RACE) rose 4% in premarket trade. The stock has gained 13% over the last 52 weeks.
-Steve Goldstein
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February 04, 2025 07:02 ET (12:02 GMT)
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