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.

https://ml-eu.globenewswire.com/media/84ef3460-e1ee-4dc6-a0e9-29f8a69ac76f/small/logo-png.png

Source: Ferrari N.V. 2019

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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