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Ferrari (RACE) Q4 Earnings Beat Estimates, Shares Rise
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Ferrari N.V. (RACE - Free Report) is an Italian luxury sports car manufacturer. The company was a subsidiary of Fiat Chrysler Automobiles N.V. for more than a decade before it became an independent entity in Jan 2016.
Ferrari’s strong brand value is its biggest tailwind. The company is also consistently expanding its global presence.
Ferrari has witnessed consistent revenue growth in the last 10 years. While its major revenues are generated from the sales of luxury cars, the company also sells engines and Ferrari brand merchandise. Further, the company owns a Formula 1 racing team as well as theme parks, which are also good sources of revenue.
However, expenses related to the global Takata airbag inflator recalls and negative shift in product mix in some recent quarters are concerns. As a result, investors have been eagerly awaiting Ferrari’s latest earnings report. Let’s take a quick look at this Italian automobile giant’s fourth-quarter release.
Estimate Trend & Surprise History
Investors should note that the earnings estimates for Ferrari for the fourth quarter have been stationary over the past month.
Ferrari has delivered a flurry of positive earnings surprises. It has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with a positive average beat of 22.14%.
Zacks Rank
Ferrari currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
Ferrari raked in adjusted earnings of €0.69 per share (74 cents per ADR) that surpassed the Zacks Consensus Estimate of 53 cents. Moreover, adjusted earnings were 86% higher than the year-ago quarter.
Ferrari logged revenues of €836 million ($901.3 million), 12% higher than a year-ago.
Key Stats/Developments to Note
Ferrari reported a 4.6% increase in shipments to 8,014 cars in 2016. The company expects total shipments for 2017 to increase to around 8,400 units.
Market Reaction
Ferrari’s shares have been rising in pre-market trading following the release. Clearly, the initial reaction to the release is positive.
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Ferrari (RACE) Q4 Earnings Beat Estimates, Shares Rise
Ferrari N.V. (RACE - Free Report) is an Italian luxury sports car manufacturer. The company was a subsidiary of Fiat Chrysler Automobiles N.V. for more than a decade before it became an independent entity in Jan 2016.
Ferrari’s strong brand value is its biggest tailwind. The company is also consistently expanding its global presence.
Ferrari has witnessed consistent revenue growth in the last 10 years. While its major revenues are generated from the sales of luxury cars, the company also sells engines and Ferrari brand merchandise. Further, the company owns a Formula 1 racing team as well as theme parks, which are also good sources of revenue.
However, expenses related to the global Takata airbag inflator recalls and negative shift in product mix in some recent quarters are concerns. As a result, investors have been eagerly awaiting Ferrari’s latest earnings report. Let’s take a quick look at this Italian automobile giant’s fourth-quarter release.
Estimate Trend & Surprise History
Investors should note that the earnings estimates for Ferrari for the fourth quarter have been stationary over the past month.
Ferrari has delivered a flurry of positive earnings surprises. It has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with a positive average beat of 22.14%.
Zacks Rank
Ferrari currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
Ferrari raked in adjusted earnings of €0.69 per share (74 cents per ADR) that surpassed the Zacks Consensus Estimate of 53 cents. Moreover, adjusted earnings were 86% higher than the year-ago quarter.
Ferrari N.V. Price and EPS Surprise
Ferrari N.V. Price and EPS Surprise | Ferrari N.V. Quote
Revenues
Ferrari logged revenues of €836 million ($901.3 million), 12% higher than a year-ago.
Key Stats/Developments to Note
Ferrari reported a 4.6% increase in shipments to 8,014 cars in 2016. The company expects total shipments for 2017 to increase to around 8,400 units.
Market Reaction
Ferrari’s shares have been rising in pre-market trading following the release. Clearly, the initial reaction to the release is positive.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>