RACE Stock Recent News

SINGAPORE, Nov. 18, 2024 (GLOBE NEWSWIRE) -- MEXC, a leading cryptocurrency exchange, has launched a Ferrari Giveaway event that features a notable prize pool of 10,000,000 USDT. This initiative aims to provide users with a unique opportunity to win a Ferrari SF90 Stradale and other exclusive items while engaging with the platform. The event is open for participation until December 17, 2024, welcoming users from around the world.

Ferrari's exclusivity and strong brand, bolstered by its Formula 1 success, drive high demand and pricing power, ensuring robust revenue and operating leverage. Despite a recent 10% stock dip, Ferrari's Q3 2024 results showed impressive EBITDA and FCF growth, where conservative management guidance is often exceeded. Ferrari's unique low-volume, high-margin strategy, extensive customizations, and strong client relationships ensure recurring revenue and profitability without needing high production increases.

Maranello (Italy), November 11, 2024 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 250 million share buyback program announced on June 28, 2024, as the fifth tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Fifth Tranche”), the additional common shares - reported in aggregate form, on a daily basis - on the Euronext Milan (EXM) as follows:

SINGAPORE, Nov. 11, 2024 (GLOBE NEWSWIRE) -- MEXC, a globally recognized cryptocurrency exchange, has unveiled its “Ferrari Giveaway” event, inviting users worldwide to register and participate for a chance to win prizes from a 10,000,000 USDT pool. Registration opens on November 11, 2024, at 07:00 (UTC), with the event running from November 17 to December 17, 2024. Participants can compete for multi-million dollar prizes, including the grand prize of a Ferrari SF90 Stradale.

Denver, Colorado, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Phoenix Capital Group CEO Adam Ferrari recently shared significant milestones from the company's Williston Basin drilling operations in North Dakota's Bakken Formation. After releasing impressive production numbers from the company's Nate Pad in early October, Ferrari announced the successful completion of five 3-mile horizontal wells on both the Daniele and Axel Ferrari pads. Phoenix is now managing 37 gross operated wells, with 32 currently in production, marking the rise of the 5-year-old company as a top producer in the basin.

DALLAS, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Adam Ferrari, CEO of Phoenix Capital Group , announced a $2,000 sponsorship in collaboration with The West Point Society of North Texas to advance STEM education and mental health resources within the region. This sponsorship reflects Ferrari's dedication to supporting impactful community programs that align with Phoenix Capital Group's mission of giving back through education and well-being initiatives.

Ferrari N.V. (NYSE:RACE ) Q3 2024 Earnings Conference Call November 5, 2024 9:00 AM ET Company Participants Nicoletta Russo - Head of Investor Relations Benedetto Vigna - Chief Executive Officer Antonio Picca Piccon - Chief Financial Officer Conference Call Participants Thomas Besson - Kepler Cheuvreux John Murphy - Bank of America Merrill Lynch George Galliers - Goldman Sachs Adam Jonas - Morgan Stanley Monica Bosio - Intesa SanPaolo Michael Binetti - Evercore Tom Narayan - RBC Henning Cosman - Barclays Stephen Reitman - Bernstein Anthony Dick - ODDO BHF Michael Tyndall - HSBC Daniel Schwarz - Stifel Operator Good day and thank you for standing by.

Ferrari's Q3 report shows a deliberate 2.2% decrease in shipments, while revenues increased by 6.5% and EPS rose by 14.3% to EUR 2.08. The company's strategy focuses on exclusivity and high-margin personalization, with a significant order book extending into 2026 and the sold-out F80 model. Ferrari's 2024 guidance is conservative, with expected revenues above EUR 6.55B and industrial FCF potentially reaching EUR 1B, setting up a strong FY2025.

Ferrari (RACE) came out with quarterly earnings of $2.29 per share, beating the Zacks Consensus Estimate of $2.11 per share. This compares to earnings of $1.98 per share a year ago.

Ferrari (NYSE:RACE) shares went into reverse on Tuesday, having hit an all-time high two months ago as the sportscar manufacturer reported a decline in shipments but backed its full-year outlook.  The Italian group posted third-quarter results showing net revenues of €1.6 billion, up 6.5%, with total shipments down 2.2% to 3,383.