Financial Data and Key Metrics Changes - Q3 revenue was $7.7 billion, up 1% year-over-year [5] - EBITDA for Q3 was $292 million, with net income of $213 million and earnings per share of $3.23 [5] - Retail automotive same-store revenue increased by 5%, with service and parts revenue also up by 5% [5] - Total new vehicle gross per unit was impacted by a higher percentage of BEV sales, reducing gross by approximately $100 [6][8] - Free cash flow for the nine months ended September 30, 2025, was $625 million, with adjusted EBITDA of $1.1 billion [20] Business Line Data and Key Metrics Changes - U.S. automotive retail same-store new and used unit sales increased by 5%, with new units up 9% and used units up 1% [10] - Premier Truck Group same-store unit sales declined by 19% during Q3, with EBITDA down $15 million [9][12] - International revenue was $2.9 billion, with a 7% decline in same-store units delivered in the UK [15] - Used vehicle gross profit in the UK increased by 19%, contributing to an overall increase in used vehicle gross per unit [16] Market Data and Key Metrics Changes - In the U.S., same-store new units delivered increased by 9%, while revenue increased by nearly 10% [7] - The UK retail automotive market faced challenges due to a cyber incident at Jaguar Land Rover, impacting new vehicle deliveries [8][15] - The Class 8 market saw a 30% decline in orders and a 22% decline in retail sales during Q3 [12] Company Strategy and Development Direction - The company remains committed to its diversification strategy and has acquired a Ferrari dealership in Modena, Italy [23] - The focus on electric vehicle sales increased, with BEV sales making up over 10% of total sales in Q3 [6] - The company is adjusting its cost structure in response to macroeconomic challenges and is well-positioned for a market rebound [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the diversified model's ability to adapt to market conditions [25] - The operating environment in the UK remains challenging due to inflation and interest rates, impacting consumer affordability [15] - Management anticipates a gradual recovery in the freight environment, with potential improvements in freight rates and capacity [51] Other Important Information - The company repaid $550 million of senior subordinated notes, reducing non-vehicle debt to $1.57 billion [21] - Total inventory was $4.7 billion, with retail automotive inventory down $9 million [23] - The company has $262 million remaining under the existing securities repurchase authorization [22] Q&A Session Summary Question: Clarification on Chinese brands and Sytner Select locations - Management confirmed the transition to Sytner Select involved reducing big-box retail stores to eight high-quality locations, with partnerships with Chinese brands like Chery and Geely [32][34] Question: Impact of tax deductions on Q4 demand - Management indicated that the tax deduction for depreciation would have an impact on Q4 demand, with production schedules filled for Q4 [38][40] Question: Visibility on recovery for Premier Truck Group - Management noted that freight rates have bottomed out and discussed potential capacity tightening due to regulatory changes affecting CDL drivers [49][50] Question: Growth in U.S. parts and service business - Management highlighted strong performance in customer pay and warranty services, driven by an aging vehicle fleet and operational efficiencies [54][56] Question: Trends in luxury vehicle sales and GPU - Management discussed the performance of luxury brands, particularly Jaguar Land Rover, and the impact of supply constraints on gross profit per unit [66][68]

Financial Data and Key Metrics Changes - Q3 revenue was $7.7 billion, up 1% year-over-year [4] - EBITDA for the quarter was $292 million, with net income of $213 million and earnings per share of $3.23 [4] - Retail automotive same-store revenue increased by 5%, with service and parts revenue also up by 5% [4] - The average discount from MSRP on BEVs sold in the U.S. was $7,100, impacting new vehicle gross per unit by approximately $100 [5][6] Business Line Data and Key Metrics Changes - U.S. retail automotive same-store new units delivered increased by 9%, with revenue up by $300 million, nearly 10% [5] - Premier Truck Group same-store unit sales declined by 19%, with EBITDA down by $15 million [7][12] - In the UK, same-store units delivered declined by 7%, with a significant impact from a cyber incident at Jaguar Land Rover [14] Market Data and Key Metrics Changes - The U.S. retail automotive business showed strong performance, while the UK faced challenges due to inflation and a cyber incident [5][14] - International revenue was $2.9 billion, with a 23% increase in revenue from operations in Italy, Germany, and Japan [16] - The Class 8 market saw a 30% decline in orders and a 22% decline in retail sales during Q3 [11] Company Strategy and Development Direction - The company remains committed to its diversification strategy and has acquired a Ferrari dealership in Modena, Italy [23] - The focus is on enhancing relationships with brands and driving efficiencies in operations [18][19] - The company is adjusting its cost structure in response to market conditions and preparing for a rebound in the freight environment [12][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the diversified model's ability to adapt to market conditions [25] - The freight environment is expected to improve as capacity tightens due to regulatory changes affecting CDL drivers [42] - The company anticipates a gradual recovery in the used vehicle market as lease returns increase [71] Other Important Information - The company generated $852 million in cash flow from operations for the nine months ended September 30, 2025 [19] - Total debt was $5.6 billion, with a significant portion related to floor plans [20] - The company has returned over $2.5 billion to shareholders through dividends and share repurchases over the last four years [22] Q&A Session Summary Question: Clarification on Chinese brands and Sytner Select - Management confirmed the transition to Sytner Select involved reducing inventory while improving quality, with partnerships established with Chinese brands like Chery and Geely [29][30] Question: Impact of tax deductions on demand - Management indicated that the tax deduction for depreciation would have a positive cash flow impact, with expectations for continued demand in Q4 [33][36] Question: Visibility on recovery in Premier Truck Group - Management noted that freight rates have likely bottomed out, with expectations for capacity tightening and improved freight rates in the future [42] Question: Trends in luxury vehicle sales - Management highlighted strong performance in premium luxury sales, with expectations for continued demand despite challenges from specific brands [55][56] Question: Used vehicle gross profit increase - Management attributed the increase in used vehicle gross profit primarily to the Sytner Select strategy and improved inventory management [70][71]

Core Insights - Ferrari N.V. is planning to launch a new cryptocurrency called 'Token Ferrari 499P' for auctioning the Ferrari 499P endurance car, which has won three consecutive Le Mans titles [1][2] - The token is being developed in partnership with fintech company Conio and will be exclusively available to 100 elite members of the Hyperclub [2] - The launch is expected to coincide with the start of the 2027 World Endurance Championship season, pending regulatory approval from the European Union [3] Company Initiatives - The initiative reflects Ferrari's strategy to engage with young tech entrepreneurs and adapt to the growing trend among luxury brands in the cryptocurrency space [2] - Ferrari has previously engaged in cryptocurrency by extending its payment options to include Bitcoin, Ethereum, and USDC in European dealerships after a successful U.S. launch [4] - The company has partnered with BitPay for cryptocurrency payment processing in its U.S. operations [4] Market Reaction - Following the announcement, Ferrari shares rose by 0.66% in pre-market trading after a 1.36% increase to $408.31 during the previous trading session [5]

Daily News 🗞 | Oct 27• ISM Manufacturing PMI suggests Bitcoin cycle may extend beyond historical norm• Ferrari to launch digital token to let fans bid on its Le Mans-winning race car• Most wealthy Hong Kong investors plan to buy crypto• Trump to nominate SEC's 'pro-crypto' Michael Selig as CFTC chair• Countries across Africa approve new crypto laws as adoption grows#CryptoNews #PoloniexNEWS ...

Core Insights - Ferrari is entering the cryptocurrency market by launching a new digital token aimed at its affluent fanbase, allowing them to participate in an auction for the Ferrari 499P endurance car [1] Group 1: Company Strategy - The new digital token will cater specifically to the wealthiest fans of Ferrari, indicating a strategic move to engage with tech-savvy and younger demographics [1] - This initiative reflects Ferrari's broader strategy to innovate and diversify its offerings, aligning with current trends in digital assets and collectibles [1] Group 2: Market Implications - By tapping into the crypto market, Ferrari is positioning itself to attract a new generation of customers who are increasingly interested in digital currencies and blockchain technology [1] - The auction for the Ferrari 499P using the digital token could set a precedent for luxury brands exploring similar digital engagement strategies [1]

Group 1 - The stock market has reached record highs following a cooler Consumer Price Index (CPI) report, indicating a positive economic outlook [1] - Gold stocks have experienced a significant pullback, with major companies like Agnico-Eagle Mines, Gold Fields, Kinross Gold, DRD Gold, and Newmont facing declines as gold prices fell from their record highs [1] - Despite the downturn in gold stocks, Agnico-Eagle Mines has been recognized among top-rated stocks and earned a spot on investment lists, highlighting its potential as a strong investment opportunity [2][4] Group 2 - Clean energy stocks are outperforming fossil fuel stocks, even amidst backlash against Environmental, Social, and Governance (ESG) criteria, indicating a shift in investor sentiment towards sustainable investments [4] - Analysts are becoming increasingly bullish on specific stocks, including a data center play, suggesting potential growth opportunities in the tech sector [4] - The Russell 2000 index has led a pullback in the stock market, with gold stocks falling sharply, reflecting broader market volatility [4]

RT Bloomberg Opinion (@opinion)Why are Ferraris getting more expensive — but selling for less on the secondhand market?@chrismbryant explains why 🎥 https://t.co/8Ue77v7ZsI ...

Core Viewpoint - Ferrari stock (NYSE: RACE) is rated as a "strong buy," with the recent price drop seen as a long-term opportunity for investment in a high-quality business suitable for a "buy and hold" strategy [1] Investment Strategy - The investment approach focuses on strong-moat companies across various industries, emphasizing a long-term horizon and value investing strategies [1] - The analyst highlights the importance of price and margin of safety, considering risks often overlooked by short-term analysts [1] Analyst Background - The analyst holds an MBA from IESE Business School in Barcelona, a Master in Finance from Universidad del Pacifico in Lima, and a B.A. in Economics from Universidad del Pacifico [1]

Lamborghini never was a car company. It's a builder of fantasies. >> You don't realize how overused the word breathtaking is until something actually takes your breath away.>> Wow. >> If you open aggressive the throttle, you have 570 horsepower. >> Oh, magnificent.Lamborghini test driver Mario Fascinetto finds the limits in the cars. >> More. More. More. More.More. >> Though this time on Bolognia's Emola racetrack, the limits belong to the driver. >> Go.Close. Close. Close to the curb. To the curb. To the c ...

Core Viewpoint - The recent sell-off in Ferrari's shares may be overdone, with questions surrounding the justification of the stock's sharp pullback in light of underwhelming long-term growth targets revealed in its five-year plan [1] Group 1: Financial Performance - In Q2 2025, Ferrari's revenue increased by 4.4% year-over-year to €1.79 billion, a slowdown from 13% growth in Q1 2025 and 11.8% for the full year 2024 [3] - Operating profit rose by 8.1% to €552 million, improving the operating margin to 30.9% from 29.9% a year ago [4] - The company reaffirmed its full-year revenue target of at least €7.1 billion and adjusted EBITDA of at least €2.72 billion, with an adjusted EBITDA margin of 38.3% or higher [5] Group 2: Growth Projections - For 2030, Ferrari's plan outlines revenue of about €9.0 billion and at least €3.6 billion of EBITDA, with a compound average annual growth rate of just 5%, a significant decrease from last year's 11.8% growth [6] - The upcoming F80 hypercar, limited to 799 units with a price tag of approximately $3.7 million, is expected to boost revenue and profitability, particularly in 2026 [8] Group 3: Market Sentiment and Valuation - Despite the stock's decline, shares are trading at a price-to-earnings ratio of about 38, indicating that the stock is not necessarily cheap [7] - Management indicated that personalization revenue growth may not be as strong in the coming years, suggesting a normalization in this revenue stream [9] - The current valuation does not provide a wide margin of safety if growth merely meets the new conservative targets [10] Group 4: Investment Considerations - Given the strong brand presence and upcoming catalysts, investors may consider buying the dip cautiously, potentially starting with a partial position and monitoring F80 deliveries and 2026 model introductions for further investment opportunities [11]