Ferrari's High Gear Q4 Performance: Surging Sales, Soaring Profits With Optimistic Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Ferrari N.V. (NYSE:RACE) reported a strong fourth-quarter performance with sales growth of 11% year-on-year to $1.639 billion, surpassing analyst estimates. The company saw an 11% increase in cars and spare parts revenue and a 7% increase in engine sales, although total shipments fell by 2% to 3,245 units. Adjusted EBITDA and net profit rose significantly, with EPS beating consensus estimates. Ferrari's 2023 shipments increased by 3.3%, driven by the Purosangue and higher deliveries of the 296 and SF90 families. The company forecasts a positive outlook for 2024 with an adjusted EPS of at least €7.50 and net revenues over €6.4 billion. Shares surged by 10.29% to $381.50.
February 01, 2024 | 2:45 pm
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Ferrari reported strong Q4 FY23 results with sales growth of 11% to $1.639 billion, surpassing analyst expectations. Adjusted EBITDA and net profit saw significant increases, with EPS beating estimates. The company's positive outlook for 2024 and share price surge by 10.29% reflect strong investor confidence.
Ferrari's Q4 performance exceeded expectations with significant sales growth and profitability, leading to a surge in share price. The positive outlook for 2024 suggests continued growth and investor confidence, likely contributing to further stock appreciation in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100