Ferrari (NYSE:RACE) Third Quarter 2024 Results
Key Financial Results
- Revenue: €1.64b (up 6.5% from 3Q 2023).
- Net income: €375.0m (up 14% from 3Q 2023).
- Profit margin: 23% (up from 21% in 3Q 2023). The increase in margin was driven by higher revenue.
- EPS: €2.08 (up from €1.82 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Ferrari EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%.
Looking ahead, revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in the US.
Performance of the American Auto industry.
The company's shares are down 9.6% from a week ago.
Risk Analysis
We should say that we've discovered 1 warning sign for Ferrari that you should be aware of before investing here.
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About NYSE:RACE
Ferrari
Through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide.
Outstanding track record with excellent balance sheet.
