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Ferrari reported earnings of $2.76 per share on $2.15 billion in revenue for the third quarter, beating the $2.66 per share analysts expected. The company is raising its financial goals for the rest of the year because customers are spending heavily on personalizations, which are custom features like unique paint or interior materials that carry much higher profit than a standard car.
The business also confirmed that its first electric vehicle, the Luce, is already sold out through 2027. This is a critical signal for owners because it shows the brand's exclusivity and waitlist, which now stretches into 2028, remain intact even as the company moves away from traditional engines. While the stock fell slightly after the news, the underlying business is growing more profitable per car sold.
See the full quarter, and how our tracked metrics did
Source: Company earnings report
Ferrari is moving forward with the third stage of its massive buyback plan, which aims to buy back roughly 3.5 billion euros of its own stock over several years. A buyback is when a company uses its cash to buy its own shares from the market, which reduces the total number of shares and makes each remaining share own a larger piece of the company. This move shows management is confident in the company's cash flow and believes the stock is a good place to put that money. For a long-term owner, this is a routine but positive sign that the company is consistently returning value to shareholders while it maintains its high-margin car business.
Source: GlobeNewsWire
Management has cleared its own bar every quarter for two years, showing they have total control over their exclusive production schedule and can reliably predict their profits.
| Expectation | |
|---|---|
| EPS | $2.82 |
| Revenue | $2.20B |