Categories AlphaGraphs, Consumer, Earnings
Ferrari’s stock jumps 10% after Q4 earnings top expectations
Ferrari NV’s (RACE) shares soared 10.2% in morning trade on Thursday after the company beat estimates on earnings for the fourth quarter of 2018. Revenues fell short of expectations.
Net revenues inched up 1% to EUR 845 million from last year. Total shipments for the quarter increased 19% to 2,398 units. Net profit improved 40% to EUR 191 million compared to the prior-year quarter. EPS, both on a reported and adjusted basis, grew 41% to EUR 1.00.
During the quarter, shipments grew across all regions with the highest growth of 31% in EMEA. Revenues grew year-over-year in Cars and spare parts as well as in Sponsorship, commercial and brand. Engines revenue dropped 30% on a constant currency basis while Other revenues fell 31%.
For full-year 2019, net revenues are expected to grow over 3% to more than EUR 3.5 billion. Adjusted EPS is expected to grow around 6% to between EUR 3.50 and EUR 3.70. Industrial free cash flow is expected to grow over 10% to EUR 0.45 billion.
In September, Ferrari outlined its long-term financial targets. These include plans to increase its dividend payout ratio to 30%, along with a share repurchase program of EUR 1.5 billion to be executed over the 2019-2022 period in relation to the growth of its industrial free cash flow.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Earnings Preview: Home Depot’s Q3 report likely to reflect weak consumer demand
The US housing industry has been mostly resilient to headwinds like economic uncertainties so far this year. However, housing activity cooled in recent months as high mortgage rates and inflation
Take-Two Interactive (TTWO) will report Q2 2025 earnings this week, a few points to note
Shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) stayed red on Monday. The stock has gained 16% over the past three months. The gaming company is set to report its second
Earnings Summary: Highlights of Loews Corporation’s (L) Q3 2024 report
Loews Corporation (NYSE: L), a diversified company with businesses in the insurance, energy, hospitality, and packaging industries, on Monday reported higher revenue and profit for the third quarter of 2024.