Ferrari (NYSE:RACE) Post Strong Q-1 Results

Ferrari (NYSE:RACE) Post Strong Q-1 Results

$RACE

FLASH: THE FERRARI F8 TRIBUTO, 1ST OF 5 NEW MODELS UNVEILED IN 2019 DRIVING STRONG REVENUE

Ferrari F8 Tributo Successfully presented at the Geneva Motor Show on 5 March 2019, the Ferrari F8 Tributo represents the most powerful V8 in the Maranello Outfit’s history for a non-special series Supercar and sets the benchmark for turbos, and for engines across the board.

The F8 Tributo delivers its 720 cv without a hint of a turbo lag and produces an evocative soundtrack. Instantaneous power is matched by exceptional handling due to the car’s advanced vehicle dynamics.

Ferrari (NYSE:RACE) announces its consolidated preliminary results for the Q-1 of Y 2019, as summarized below:

Ferrari confirmed the following performance targets for Y 2019:

  • Net revenues: EUR 3.5-B, over 3% growth Vs 2018
  • Adj. EBITDA: EUR 1.2-1.25-B, approx. 10% growth Vs 2018
  • Adj. EBIT: EUR 0.85-0.9-B, approx. 6% growth Vs 2018
  • Adj. diluted EPS: EUR 3.50-3.70/share, approx. 6% growth Vs 2018
  • Industrial free cash flow: EUR 0.45-B, over 10% growth Vs 2018

Ferrari Dividend Payout and Share Buyback Program

On 2 May 2019, following the approval of Shareholders at the Annual General Meeting on 12 April 2019, the Company paid a dividend in cash of EUR 1.03 per outstanding common share, corresponding to a total dividend amount of approximately EUR 193-M.

Under the common share repurchase program, the Company has purchased a further 137,374 common shares for a total consideration of EUR 16.7-M since 31 March 2019. As a result, as of 2 May 2019 the Company held an aggregate of 6,368,379 common shares in its treasury.

Pre-Market: Ferrari is trading at 138.01 +5.69, or 4.30%

Ferrari is the Aristocrat of the automotive sector.

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Source: Ferrari N.V. 2019

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