Ferrari Gears Up to Report Q3 Earnings: Here's What to Expect

Core Viewpoint - Ferrari N.V. is expected to report its third-quarter 2024 results on November 5, with earnings per share estimated at $2.11 and revenues at $1.80 billion, reflecting a positive outlook for the company [1][2]. Financial Performance - The consensus estimate for Ferrari's earnings per share has increased by 6 cents over the past 90 days, indicating a projected rise of 6.57% compared to the same quarter last year [2]. - The expected revenue for the upcoming quarter suggests a year-over-year increase of 7.06% [2]. - In the second quarter of 2024, Ferrari reported adjusted earnings per share of $2.46, surpassing the consensus estimate of $2.21, and showing an increase from $1.99 in the previous year [3]. Delivery and Production Insights - In Q2 2024, Ferrari shipped 3,484 units, a 2.7% increase from the same quarter in 2023, driven by strong demand for models like the Ferrari Purosangue, Roma Spider, and 296 GTS [4]. - The delivery trend is anticipated to continue into the third quarter, supporting revenue growth [4]. Guidance and Outlook - Ferrari has revised its 2024 guidance upwards, now expecting net revenues of €6.55 billion, an increase from the previous estimate of €6.4 billion, and an adjusted EBIT margin of 27.5%, up from 27% [5]. - The positive product mix and increased demand for personalization are expected to contribute to strong third-quarter results [5]. Earnings Prediction Model - The earnings prediction model indicates a likely earnings beat for Ferrari, supported by a positive Earnings ESP of +0.39% and a Zacks Rank of 3 (Hold) [6].