These three stocks represent luxury brands that are great for growing your wealth over the long term. Some people love to purchase luxury brands to pamper themselves, from luxury apparel and handbags to scarfs and shoes. Many of the companies that make them enjoy consistent patronage and can make for solid growth stocks you can buy and own for the long term. Such businesses have solid reputations that endow them with strong brand recognition and customer loyalty. Grouped under consumer discretionary, stocks ...

This business looks more like a luxury brand than a typical car maker. Investors might be inclined to look at past winners to find potentially lucrative stock options to own going forward. Winners will keep on winning, as the thinking goes. Ferrari (RACE 4.88%), one of the world's leading manufacturers of supercars, has certainly supercharged shareholder returns. In the past five years, this phenomenal auto stock has soared 166% (as of Aug. 9), beating the broader S&P 500 by a mile. But is it too late to ad ...

At the moment, the concept of acquiring auto stocks might seem counterproductive. After all, the consumer economy is struggling under the weight of inflation and high borrowing costs. Also, the labor market appears to be softening somewhat, leading to concerns of overall viability. Nevertheless, the industry – particularly entities within the legacy framework – may offer surprisingly positive results for stakeholders. Part of the enthusiasm comes down to the political realm. Right now, we're in the middle o ...

Financial Data and Key Metrics Changes - Revenues for Q2 2024 reached €1.7 billion, a 16% increase compared to the previous year, driven by a strong product mix and growing demand for personalization [5][17] - Adjusted EBITDA was approximately €670 million, with a margin of 39% [5][17] - Net profit for the quarter was €413 million, reflecting stronger personalizations and increased visibility for the remainder of the year [5][17] - Industrial free cash flow generation was €121 million, despite higher capital expenditures and tax payments [24] Business Line Data and Key Metrics Changes - Shipments increased by 92 units, with notable contributions from the Purosangue, Roma Spider, and 296 GTS [18][19] - The hybrid share of deliveries reached 48%, primarily driven by the 296 GTS [19] - Personalization accounted for nearly 20% of total revenues from cars and spare parts, supported by the Purosangue and Daytona SP3 [20] Market Data and Key Metrics Changes - Deliveries increased in EMEA, Americas, and Rest of APAC, while there was a decrease of approximately 60 units in Mainland China, Hong Kong, and Taiwan [18] - The company strategically allocated products across different regions to enhance brand strength and exclusivity [6] Company Strategy and Development Direction - The company emphasizes sustainable innovation, with a focus on technological neutrality across internal combustion engines, hybrids, and full electric models [9][10] - The new e-building facility will support the development and production of various powertrains, enhancing competitive advantage [10][11] - The company aims to maintain quality over quantity, focusing on high-value revenues rather than increasing production volumes [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong order book, which extends well into 2026, and highlighted the positive reception of new models [6][29] - The company upgraded its 2024 guidance based on improved visibility and stronger personalization demand [25] - Management noted no signs of weakness in demand, with strong client engagement and interest in new models [56] Other Important Information - The company hosted a series of events focused on sustainable innovation, involving stakeholders and culminating in the inauguration of the new e-building [8] - The company reported a negative currency impact of €35 million, primarily due to adverse dynamics of the U.S. dollar, Japanese yen, and Chinese yuan against the euro [23] Q&A Session Summary Question: Order book and unit growth expectations - Management indicated a focus on price and mix with slower unit growth, but potential for slight acceleration in unit growth [28][29] Question: Personalization increase and its drivers - Personalization reached nearly 20%, driven by client demand, particularly for carbon finishes [31][33] Question: EV strategy and market positioning - The company maintains a strategy of technological neutrality, planning to unveil an EV in Q4 2025 [34] Question: Market demand and geographic performance - Strong demand for Dodici Cilindri across most countries, with some weakness noted in China due to tax burdens [38][39] Question: ASP expectations for the second half - ASP is expected to remain stable, with a projected increase of around 10% for the full year [66]

Ferrari (RACE) came out with quarterly earnings of $2.46 per share, beating the Zacks Consensus Estimate of $2.21 per share. This compares to earnings of $1.99 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 11.31%. A quarter ago, it was expected that this luxury sports car maker would post earnings of $2.04 per share when it actually produced earnings of $2.12, delivering a surprise of 3.92%. Over the last four quarters, the ...

Ferrari N.V. (NYSE/EXM: RACE) ("Ferrari" or the "Company") today announces its consolidated preliminary results(1) for the second quarter and six months ended June 30, 2024: Net revenues of Euro 1,712 million, up 16.2% versus prior year, with total shipments of 3,484 units up 2.7% versus Q2 2023 Adjusted EBIT of Euro 511 million, up 17.0% versus prior year, with adjusted EBIT margin of 29.9% Adjusted net profit of Euro 413 million and adjusted diluted EPS at Euro 2.29 Adjusted EBITDA of Euro 669 million, up ...

Ferrari N.V. (NYSE/EXM: RACE) ("Ferrari" or the "Company") today announces its consolidated preliminary results(1) for the second quarter and six months ended June 30, 2024: Net revenues of Euro 1,712 million, up 16.2% versus prior year, with total shipments of 3,484 units up 2.7% versus Q2 2023 Adjusted EBIT of Euro 511 million, up 17.0% versus prior year, with adjusted EBIT margin of 29.9% Adjusted net profit of Euro 413 million and adjusted diluted EPS at Euro 2.29 Adjusted EBITDA of Euro 669 million, up ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Ferrari (RACE) . This company, which is in the Zacks Automotive - Original Equipment industry, shows potential for another earnings beat. When looking at the last two reports, this luxury sports car maker has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 6.68%, on average, in th ...

The earnings report, which is expected to be released on August 1, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. This luxury sports car maker is expected to post quarterly earnings of $2.15 per share in its upcoming report, which represents a year-over-year change of +8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the cov ...

Italian luxury carmaker Ferrari said Wednesday its European dealers will start accepting cryptocurrency, following a similar move in the United States. "By the end of 2024, Ferrari will expand cryptocurrency transactions to other countries in its international dealer network, where cryptocurrencies are legally accepted." Billionaire Elon Musk declared in 2021 that he would sell Tesla cars for bitcoins—before changing his mind, arguing that its production was too polluting and that he would only accept it wh ...