Ferrari NV

RACE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$791.00	Lbzy	Yzqmrrt

Ferrari Earnings: Updated Full-Year Guidance Now Matches Our More Optimistic Outlook

Aug 1, 2024

Wide-moat Ferrari posted second-quarter earnings per share of EUR 2.29, a beat on FactSet consensus' EUR 2.21, delivering a strong 25% growth year-over-year and an improving cadence on quarter one's 20% earnings per share growth. Management lifted full-year guidance following this improving performance run-rate. Our forecast was already slightly ahead of prior guidance; therefore, we keep our fair value estimate unchanged at EUR 281 per share.

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