DENVER, Jan. 10, 2025 (GLOBE NEWSWIRE) -- The application period for the 2024 Adam Ferrari Health Science Scholarship, sponsored by The Ferrari Foundation, has officially closed. This $20,000 scholarship program, spearheaded by Adam Ferrari, CEO of Phoenix Capital Group, attracted an impressive and diverse group of first-year health science students from across the country. These aspiring healthcare professionals share a common goal: to improve care for individuals with physical disabilities. The scholarshi ...

Meet Ferrari's (RACE 0.38%) newest supercar, the F80. While it might be nearly impossible to get your hands on one, considering Ferrari's notorious exclusivity with selling its vehicles, it's likely to help power the automaker's future profits. And if you can't buy a Ferrari F80, buying the stock might just be your next best option.Here's why. Ferrari is powering profitsThe F80 packs a punch, no matter how you look at it. Whether it's the sharp red paint Ferraris are known for, the top speed of nearly 220 m ...

I aim to invest in companies with perfect qualitative attributes, buy them at an attractive price based on fundamentals, and hold them forever. I hope to publish articles covering such companies approximately 3 times per week, with extensive quarterly follow-ups and constant updates.I manage a concentrated portfolio targeted at avoiding losers and maximizing exposure to big winners. This means that often I'll rate great companies at a 'Hold' because their growth opportunity is below my threshold, or their d ...

Workers on the production line at the new Ferrari NV E-building factory in Maranello, Italy, on Friday, June 21, 2024.Ferrari is thought to be something of a special case among Europe's automobile sector even as many car giants come under pressure from the threat of U.S. tariffs.President-elect Donald Trump on Monday vowed to impose steep tariffs on China, Canada and Mexico in one of his first acts in office, threatening to shake up the auto industry's supply chains and raising investor concerns about highe ...

AUSTIN, Texas, Nov. 27, 2024 (GLOBE NEWSWIRE) -- AutoScheduler.AI, an innovative Warehouse Orchestration Platform and WMS accelerator, announces hosting a LinkedIn Live event with Supply Chain Industry Analyst, Bob Ferrari. The insightful LinkedIn Live event, “Supply Chain 2025: What to Expect (and What Not to) in a Volatile World,” explores predictions for the year ahead in the supply chain. “Some predictions align with emerging trends, while others challenge the market’s conventional wisdom,” says Keith M ...

There are some special businesses out there that just don't fit neatly into the traditional industry buckets. For example, while Ferrari (RACE 1.89%) is certainly a car manufacturer, it's also a world-renowned luxury brand. That distinctive combination has worked to its benefit.Since this automaker's initial public offering in October 2015, its stock has soared by 691% (as of this writing). That's a nearly eight-fold gain in roughly nine years' time. But with that impressive performance in the rear-view mir ...

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. Event overview Prize Pool: The giveaway includes a total prize pool of 10,000 ...

Investment Rating - The report assigns an "Overweight" rating for Ferrari (RACE) as a first coverage [1][5]. Core Views - Ferrari's revenue for Q3 2024 reached €1.64 billion, reflecting a year-on-year increase of 7%. The adjusted EBITDA was €640 million, also up 7%, with an EBITDA margin of 38.8%, slightly improved by 0.2 percentage points from the previous year. The adjusted net profit was €375 million, marking a 13% increase, with a net profit margin of 22.8%, up by 1.3 percentage points year-on-year [1][2]. - The company maintains its full-year guidance for 2024, expecting total revenue to exceed €6.55 billion, with adjusted EBIT of at least €1.82 billion and an adjusted EPS of at least €7.90 [2][5]. Summary by Sections Financial Performance - Q3 2024 total revenue was €1.64 billion, with automotive and parts revenue at €1.40 billion, up 5% year-on-year. Sponsorship and commercial revenue increased by 20% to €170 million, driven by new sponsorship deals [2]. - The gross margin for Q3 was 49.7%, with selling and administrative expenses rising by 13.4% to €135 million. R&D expenses decreased by 4.1% to €210 million due to the phasing out of certain models [2][5]. Market Performance - Ferrari's stock performance over the past month was -1.45%, while it gained 6.28% over three months and 33.74% over the past year. In comparison, the S&P 500 index increased by 4.09% in the last month, 13.15% in three months, and 35.42% over the past year [2][5]. Regional Sales - Total vehicle shipments in Q3 2024 were 3,383 units, down 2% year-on-year. The Asia-Pacific region, including mainland China, Hong Kong, and Taiwan, saw a significant decline of 29% in shipments [2][5].

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 ...

Financial Data and Key Metrics - Revenues for Q3 2024 reached €1.6 billion, up 7% year-over-year [9] - EBIT stood at approximately €470 million, with a margin of 28.4%, driven by a strong product mix and personalization trends [9] - Net profit was €375 million, and industrial free cash flow generation exceeded €360 million [9] - Adjusted EBIT increased by 10%, and adjusted EBITDA rose by 7% with a margin of 38.8% [25] - Industrial free cash flow generation reached €364 million, supported by profitability and working capital improvements [33] Business Line Performance - The Purosangue, Roma Spider, and 296 GTS were the main drivers of deliveries in Q3 [26] - The hybrid share of shipments reached 55%, primarily driven by the 296 GTS [27] - Personalizations accounted for approximately 20% of total revenues from cars and spare parts, significantly supported by the Purosangue and Daytona SP3 [28] - Sponsorship and brand revenues increased, largely due to new sponsorships related to racing activities, including the HP title sponsorship [29] Market Performance - The Americas region supported a positive country mix, contributing to the strong financial results [30] - Shipments in China decreased, but the order book remains strong, with visibility extending into 2026 [65][66] - The UK market showed softer residual values, while other regions remained stable [51][52] Strategic Direction and Industry Competition - The company is advancing its electrification journey, with the F80 supercar representing a key milestone in internalizing core components like electric motors and high-voltage battery modules [15][94] - The e-building facility enhances technological flexibility, allowing the company to offer a continuum of ICE, hybrid, and future electric vehicles [94][95] - The company is committed to carbon neutrality by 2030, with a 60% reduction in Scope 1 and Scope 2 CO2 emissions achieved by switching off the Trigeneration plant in Maranello [23] Management Commentary on Operating Environment and Future Outlook - The company is monitoring the macro environment carefully but remains confident in its strategy and client base [24] - The order book is robust, with strong demand for the Dodici Cilindri family and the F80 supercar, providing visibility well into 2026 [10][34] - The company prioritizes the quality of revenues over quantity, focusing on maintaining high margins and profitability [47] Other Important Information - The F80 supercar, with a limited production run of 799 units, has already been fully allocated to collectors and represents the pinnacle of Ferrari's technological and performance capabilities [12][13] - The company successfully transitioned to a new ERP system, which is expected to improve operational efficiency and reduce SG&A costs over time [75][106] Q&A Session Summary Question: Timeline for F80 deliveries and mix decline in Q3 - F80 deliveries will begin in Q4 2025 and continue for 2-3 years, with 799 units planned [37] - The sequential decline in mix gains was due to high personalization and mix impacts in the prior year's Q3 [38] Question: Positioning of upcoming high-end products - The F80 is positioned as a technological and performance milestone, bridging Ferrari's ICE and hybrid offerings [41][42] - The company is keeping details of the EV hypercar under wraps to maintain exclusivity [44] Question: Volume growth vs. mix and scarcity - The company prioritizes revenue quality over volume growth, focusing on maintaining high margins and profitability [46][47] Question: Q4 guidance and residual value trends - Q4 EBIT is expected to be around €400 million, with higher OpEx related to racing and lifestyle activities [50][54] - Residual value trends vary by region, with personalization levels impacting resale values [51][52] Question: Industrial free cash flow and SG&A outlook - Industrial free cash flow in Q4 is expected to decline year-over-year due to higher CapEx and taxes [57][58] - SG&A expenses are expected to remain elevated due to digital infrastructure investments [60] Question: F80 advances and personalization rates - Advances for the F80 will be collected, but the timing of accounting was not specified [63] - Personalization rates in Q3 were 20%, with an average price increase compared to previous years [63] Question: Shipments and China market dynamics - Shipments in Q4 are expected to be higher than last year but lower than Q3 2024 [102] - The China market remains stable, with the company maintaining a deliberate strategy to keep shipments below 10% of total volumes [65][101] Question: F1 provision and ERP benefits - The F1 provision release had a €10 million impact [107] - The new ERP system is expected to improve operational efficiency and reduce SG&A costs over time [106] Question: Potential tariffs and R&D accounting - The impact of potential U.S. tariffs on the order book is uncertain, but the company may reallocate products to other regions [109] - R&D capitalization rates are expected to continue increasing due to product development expenditures [110] Closing Remarks - The company expressed confidence in its future plans, supported by strong Q3 results and progress in its electrification journey [113]