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Ferrari NV - Stock Quote RACE

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Morningstar's Ferrari NV Stock Analysis

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Ferrari Q1 Results on Track for Another Record Year, 2022 Guidance Unchanged; FVE Raised to EUR 154

Richard Hilgert Senior Equity Analyst

Analyst Note

| Richard Hilgert |

Wide-moat-rated Ferrari reported record first-quarter diluted EPS of EUR 1.29, EUR 0.18 better than the year-ago EPS and EUR 0.04 above the EUR 1.25 FactSet sell-side consensus. Record first-quarter revenue of EUR 1,186 million (beat consensus by 9 million) was 17% higher than the EUR 1,011 million reported last year as revenue from cars and spare parts as well as sponsorships and other increased 18% and 20%, respectively. Increased revenue was due to higher volume, improved mix and pricing, plus personalizations, partially offset by an 18% decline in engine revenue on reduced shipments to Maserati whose supply agreement ends in 2023.

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Ferrari NV's Company Profile

Business Description

Ferrari engineers and manufactures some of the world's most expensive exotic sports cars. The Ferrari brand is synonymous with Formula One racing, exclusivity, Italian design, and state-of-the-art technology. Ferrari also has a captive finance company that provides funding for dealers and clients.

Via Abetone Inferiore n. 4
Maranello, I-41053, Italy
T +39 536949111
Sector Consumer Cyclical
Industry Auto Manufacturers
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 4,632

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