Ferrari NV (RACE) shares soared 5.84% in pre-market trading on Tuesday, following the luxury carmaker's impressive fourth-quarter 2024 earnings results and upbeat guidance for 2025.
For Q4 2024, Ferrari reported adjusted earnings per share of €2.14, significantly beating analysts' estimates of €1.85. Net revenues came in at €1.74 billion, also surpassing expectations of €1.65 billion, driven by a richer product and country mix, increased personalization revenue, and higher sponsorship and brand income.
The company's operating profit (EBIT) jumped 16.7% year-over-year to €1.89 billion, with an EBIT margin of 28.3%. Net profit soared 31% to €386 million, reflecting the strong financial performance.
Looking ahead, Ferrari provided an optimistic outlook for 2025, projecting net revenues above €7 billion, adjusted EBITDA of at least €2.68 billion, and adjusted operating profit (EBIT) of at least €2.03 billion. The company expects further robust growth across its key metrics, fueled by continued momentum in its product lineup, racing activities, and lifestyle initiatives.