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.
Earnings
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.
Past Earnings Performance
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).
Guidance
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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