Ferrari: Q1 Earnings Insights

Ferrari RACE reported its Q1 earnings results on Thursday, May 4, 2023 at 06:58 AM.

Here's what investors need to know about the announcement.

Ferrari beat estimated earnings by 8.07%, reporting an EPS of $1.74 versus an estimate of $1.61.

Revenue was up $203.00 million from the same period last year.

Last quarter the company missed on EPS by $0.03 which was followed by a 2.05% drop in the share price the next day.

Here's a look at Ferrari's past performance:

Quarter	Q4 2022	Q3 2022	Q2 2022	Q1 2022
EPS Estimate	1.27	1.18	1.27	1.26
EPS Actual	1.24	1.24	1.45	1.45
Revenue Estimate	1.40B	1.16B	1.22B	1.19B
Revenue Actual	1.40B	1.26B	1.38B	1.33B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Ferrari management provided guidance for FY 2023, expecting earnings between $6.44 and $6.654 per share.

To track all earnings releases for Ferrari visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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