Earnings Performance - Ferrari reported quarterly earnings of $2.7 per share, exceeding the Zacks Consensus Estimate of $2.57 per share, and up from $2.46 per share a year ago, representing an earnings surprise of +5.06% [1] - The company posted revenues of $2.03 billion for the quarter ended June 2025, slightly missing the Zacks Consensus Estimate by 0.45%, compared to $1.84 billion in the same quarter last year [2] Market Performance - Ferrari shares have increased approximately 17.4% since the beginning of the year, outperforming the S&P 500's gain of 8.2% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.30 on revenues of $1.95 billion, and for the current fiscal year, it is $10.27 on revenues of $8.2 billion [7] - The Zacks Rank for Ferrari is currently 1 (Strong Buy), indicating expectations for the stock to outperform the market in the near future [6] Industry Context - The Automotive - Original Equipment industry, to which Ferrari belongs, is currently in the top 33% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [8]

Financial Data and Key Metrics Changes - Total revenues for Q2 2025 reached approximately EUR 1.8 billion, reflecting a 4.4% year-over-year growth with flat deliveries [9] - EBITDA exceeded EUR 700 million, indicating strong profitability [9] - Industrial cash flow was reported at EUR 230 million [9] - EBITDA margin stood at 39.7% and EBIT margin was close to 31% [20] Business Line Data and Key Metrics Changes - Shipments in Q2 were driven by the 2096 GTS, Purosangue, and Roma Spider, while the SF90XX family increased its contribution [16] - The Daytona SP3 saw lower shipments as it approached the end of its life cycle [16] - Personalizations accounted for approximately 20% of total revenues from cars and spare parts, supported by the Daytona SP3 and SF90XX family [19] Market Data and Key Metrics Changes - The geographic breakdown of revenues reflects different product cycles and a deliberate allocation strategy [17] - The company reported a strong order book entering 2027, with substantial demand for the newly launched Ferrari Amalfi [7] Company Strategy and Development Direction - The company is focused on product development, particularly with the upcoming Ferrari Electrica [6] - Continued investment in client centricity, product excellence, and technology advancement is emphasized [7] - The company aims to prioritize quality of revenues over volume in the second half of 2025 [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic threats, including trade tensions and currency fluctuations [5] - The company remains well-prepared to adapt to potential challenges, highlighting the importance of agility and flexibility [24] - Future guidance for 2025 has been confirmed with stronger confidence, removing previous risks on percentage margins [22] Other Important Information - The company is progressing with the construction of a new paint shop and a truck dedicated to sports car testing [8] - The Ferrari HyperSail project is under construction, marking the company's entry into the sailing sector [13] Q&A Session Summary Question: Comments on residual value developments in key markets - Management noted that the UK market was under pressure but actions taken are showing good trends [28] Question: Details on why industrial costs in the second half are expected to be lower - Lower costs are attributed to an easy comparison with last year, where significantly higher racing costs were incurred [29] Question: Clarification on R&D capitalization versus amortization - The change is due to the overlap of project developments and the pace of model approvals [31] Question: Cars and spare parts growth at 3% and ASP expectations - The lower growth is aligned with the planned deliveries and personalization trends remain strong [41] Question: Impact of tariffs on pricing strategy - The company will adapt its commercial policy once the new tariffs are implemented, separating tariff costs in invoices [39] Question: Positioning of the Ferrari Electrica - The vehicle is intended for both existing community members and new customers, with more details to be revealed in October [48] Question: Expectations for hybrid vehicle share - The share of hybrids is influenced by the product mix and expected to vary based on model availability [77] Question: Confidence in pricing strategy for upcoming launches - The company remains confident in maintaining constructive pricing strategies for future launches [102]

法拉利(RACE.US)跌超8.6%，报455.75美元。消息面上，法拉利第二季度营收同比增长4.4%%至17.9亿 欧元，分析师预期为18.3亿欧元；调整后每股收益为2.38欧元，符合预期。期内向客户交付了3494辆汽 车，比去年同期多出10辆，低于分析师预期的3523辆。(格隆汇) ...

意大利法拉利股票在下跌10.3%后停牌。 ...

智通财经7月31日电，意大利法拉利公司股价大跌10.3%后，交易自动暂停。 ...

Q2 2025 Financial Highlights - Net revenues reached approximately €1.8 billion[6], a 4.4% increase compared to Q2 2024[17] - EBITDA stood at €709 million[6], with a margin of 39.1%[15] - Net profit amounted to €425 million[6] - Industrial Free Cash Flow (FCF) surged to €232 million[6], a 90.7% increase from Q2 2024[21] - Diluted earnings per share increased by 3.9% to €2.38[19] Shipments and Regional Performance - Total shipments were 3,494 units in Q2 2025, a slight increase of 0.3% compared to 3,484 units in Q2 2024[11, 16] - EMEA shipments decreased by 9 units, representing 47% of total shipments[23] - Mainland China, Hong Kong, and Taiwan saw a decrease of 4 units[23], accounting for 5% of total shipments[27] - Rest of APAC increased by 11 units, making up 17% of total shipments[23] - Americas increased by 12 units, holding steady at 28% of total shipments[23] 2025 Guidance - The company expresses stronger confidence in its 2025 guidance, projecting net revenues greater than €7.0 billion[38], representing a growth of ≥5%[38] - Adjusted EBITDA is expected to be at least €2.68 billion[38], with a margin of ≥38.3%[38], representing a growth of ≥5%[38] - Adjusted EBIT is projected to be at least €2.03 billion[38], with a margin of ≥29.0%[38], representing a growth of ≥7%[38] - Industrial FCF is expected to be at least €1.20 billion[38], representing a growth of ≥17%[38]

智通财经APP获悉，由于SF90 XX以及12Cilindri 豪华车型以及定制化超级跑车的需求抵消了额外的关 税支出，全球豪车领军者法拉利(RACE.US)在第二季度的利润出现上升。 该豪车制造商周四表示，在出货量保持稳定的情况下，与去年同期相比，总营收同比增长4%，至17.9 亿欧元(大约20亿美元)，略低于华尔街普遍预期的18.3亿欧元，营业利润增长6%，至7.09 亿欧元。法拉 利表示，最近的美欧贸易协议降低了此前特朗普所威胁的50%关税后，该公司对全年业绩指引更有信 心，因此删除了原先预留的50个基点利润率"下行缓冲垫" 。 由于整体营收略显逊色，法拉利股价在米兰一度下跌 4.8%。该股今年累计上涨1.5%。 法拉利在很大程度上避免了保时捷等竞争对手的业绩大幅下滑命运，并且保时捷在本周公布财报时表 示，因美国总统唐纳德·特朗普主导的全球贸易战而下调了业绩指引。 投资者们普遍押注，这家意大利豪车公司凭借其传奇品牌的吸引力，能够将任何额外关税成本转嫁给富 裕的客户们。法拉利表示，预计下半年的"工业成本"将有所降低。 据了解，美国和欧盟周日同意将进口自欧盟集团成员国的车辆关税税率降低至15%。这一税率远低 ...

每经AI快讯，7月31日，法拉利股价跌幅进一步扩大，下跌5.7%。 （文章来源：每日经济新闻） ...

智通财经7月31日电，法拉利股价跌幅进一步扩大，下跌5.7%。 ...

法拉利第二季度净收入为17.87亿欧元，较上年增长4.4%，总出货量为3494台。第二季度营业利润为 5.52亿欧元，较上年增长8.1%。 ...