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Ferrari CEO Benedetto Vigna speaks to CNBC's Charlotte Reed after the luxury carmaker reported a significant upswing in full-year net profit and flagged further growth this year.
Ferrari has consistently exceeded earnings expectations, driven by solid fundamentals and a unique business model that emphasizes exclusivity and personalization. Ferrari topped estimates once again and disclosed ambitious goals for FY2025. In the meantime, investors are waiting for the October unveiling of the first all-electric model.
Ferrari beat expectations in 2024 and foresees more growth in 2025, a year which will see the arrival of its first fully electric car and the first shipments of its latest "super car."
Ferrari N.V. (NYSE:RACE ) Q4 2024 Earnings Conference Call February 4, 2025 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 Susy Tibaldi - UBS Stephen Reitman - Bernstein Michael Binetti - Evercore ISI Monica Bosio - Intesa SanPaolo Anthony Dick - ODDO BHF Henning Cosman - Barclays Thomas Besson - Kepler Cheuvreux George Galliers - Goldman Sachs Adam Jonas - Morgan Stanley Tom Narayan - RBC Operator Good day, and thank you for standing by.
Shares of Ferrari (RACE 6.98%) were surging today after the luxury carmaker posted a strong fourth-quarter earnings report, with sales up an impressive 14%.
The EV will be one of six new models the company plans to roll out this year, its CEO said.
Ferrari (RACE) came out with quarterly earnings of $2.28 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $1.74 per share a year ago.
The Italian supercar maker has defied a slowdown in China that has plagued many of its luxury peers.
Luxury carmaker Ferrari on Tuesday reported a significant upswing in full-year net profit, citing a strong product mix and growing demand for personalization.
Sports-car maker Ferrari reported a jump in fourth-quarter profit, buoyed by product mix even as shipments grew just 2%.