Ferrari (NYSE:RACE) Q-2 Earnings Call Wednesday
The iconic Italian supercar maker Ferrari(NYSE:RACE) report its Q-2 earnings results Wednesday, 1 August.
They expect revenue of EUR 925.94-M, up from EUR 920-M last year.
High demand for the new 812 Superfast pushed Ferrari’s margins higher in Q-1, and likely in Q-2 as well.
Last week, board member Louis Camilleri, a former CEO of Philip Morris International, has taken the helm of the Maranello Outfit.
Mr. Camilleri.63 anni, succeeds the late Sergio Marchionne until falling gravely ill.
Philip Morris International is a longtime sponsor of Ferrari’s F1 racing team.
Ferrari stock soared under Mr. Marchionne’s leadership after he cleared a path to profit growth over the next several years.
We will hear from Mr. Camilleri for the 1st time as Ferrari’s CEO when the company reports its Q-2 earnings result Wednesday on 1 August 1.
Ferrari doesn’t release official sales data except with its earnings reports, so we wait till Wednesday.
We do have estimates that suggest that Ferrari’s US sales were steady in Q-2, up about 1% from a year ago, and we know that Mr. Marchionne said in May that waiting lists were very long.
Ferrari has 2 new models, both of which have received strong reviews.
The 812 Superfast, a V12-powered 2-seater introduced late last year, it succeeds and outperforms the F12 Berlinetta at the Top of Ferrari’s regular model range.
The 2nd new model is the Portofino, a V8-powered convertible. It succeeds the California, Ferrari’s best-selling car ever, in its role as the “entry-level” Ferrari.
|NYSE:RACE||132.62||31 July 2018||2.12||132.56||133.86||132.39||1,016,000|
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