Ferrari N.V. ( RACE ) reported its Q4 2025 earnings , and, after months of decline, the stock is finally seeing a strong 10% move higher at the time of writing. Since October, Ferrari's shareholders have been tested in a way that has never happenedI’m a long-term investor focused on U.S. and European equities, with a dual emphasis on undervalued growth stocks and high-quality dividend growers. Through years of experience, I’ve learned that sustained profitability—evident in strong margins, stable and expand ...

Financial Data and Key Metrics Changes - In 2025, the company achieved revenues exceeding EUR 7.1 billion, with EBIT growing to over EUR 2.1 billion, marking a double-digit growth [10] - Industrial cash flow generation surpassed EUR 1.5 billion, reflecting a significant increase of approximately 50% compared to the previous year [22] - The EBITDA margin reached 38.8%, while the EBIT margin stood at 29.5%, indicating strengthened percentage margins despite external challenges [22] Business Line Data and Key Metrics Changes - The sports car segment saw an improved overall mix, contributing positively to revenue growth, despite the phase-out of the Daytona SP3 [17] - Revenues from racing increased due to new partnerships and enhanced sponsor contributions [17] - The lifestyle segment maintained a growth pace aligned with the company's development investments [17] Market Data and Key Metrics Changes - The company reported a solid order book extending towards the end of 2027, indicating strong demand dynamics [11] - Residual values remained stable and solid, supported by recent auction results [11] - The company noted a decline in deliveries to the U.S. market, attributed to model changeovers rather than demand weakness [73] Company Strategy and Development Direction - The company launched six new sports cars in 2025, including the Ferrari Luce, as part of its strategy for horizontal product diversification and technology neutrality [6] - Future plans include the complete introduction of the Ferrari Luce and the launch of four new models in 2026 [14] - The company aims to enhance client experiences through craftsmanship and quality, emphasizing a client-centric approach [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term opportunities despite ongoing global uncertainties [25] - The company anticipates 2026 to be a year of growth, with expectations for a stronger product mix and continued investment in brand development [15][24] - Management highlighted the importance of maintaining a disciplined approach in the current economic context [16] Other Important Information - The company completed its EUR 2 billion share buyback program one year ahead of schedule [18] - A competitive award of up to EUR 14,900 was announced for employees in Italy, reflecting the company's strong performance [10] Q&A Session Summary Question: Margin expectations for 2026 - Management indicated that operating margins are expected to be flat to up in the second half of 2026, with a stronger product mix anticipated [30] Question: Guidance for 2026 and cost offsets - Management expects mix and pricing to offset higher SG&A and industrial costs in 2026 [36] Question: Models driving the order book - The 296 Speciale and Testarossa models are significant contributors to the order book, with new clients attracted by the Amalfi model [41] Question: Impact of FX on bottom line - A headwind of about EUR 200 million is anticipated due to foreign exchange rates, primarily from the US dollar and Japanese yen [62] Question: R&D and government grants - R&D expenses are expected to remain stable, with additional government grants anticipated in future years [116] Question: Free cash flow expectations - Free cash flow is expected to be strong, with net working capital contributions being more neutral compared to 2025 [78]

Financial Data and Key Metrics Changes - In 2025, the company achieved revenues exceeding EUR 7.1 billion, with EBIT growing to over EUR 2.1 billion, marking a double-digit growth [10] - Industrial cash flow generation surpassed EUR 1.5 billion, reflecting a 50% increase compared to the previous year [22] - The EBITDA margin was reported at 38.8%, while the EBIT margin stood at 29.5%, indicating strengthened percentage margins despite external pressures [22] Business Line Data and Key Metrics Changes - The sports car segment saw an improved overall mix, contributing positively to revenue growth, despite the phase-out of the Daytona SP3 [17] - Revenues from racing increased due to new partnerships and enhanced sponsor contributions [17] - The lifestyle segment maintained a growth pace aligned with development investments, with successful client activations driving engagement [9][17] Market Data and Key Metrics Changes - The company reported a solid order book extending into late 2027, with stable residual values evidenced by strong auction results [11] - The Americas market experienced a decline in deliveries, attributed to model changeovers rather than demand weakness [73] Company Strategy and Development Direction - The company launched six new sports cars in 2025, including the Ferrari Luce, as part of a strategy focused on horizontal product diversification and technology neutrality [6] - Future plans include the complete introduction of the Ferrari Luce and the launch of four new models in 2026, alongside continued investment in brand and lifestyle retail networks [15][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term opportunities despite ongoing global uncertainties, emphasizing a disciplined approach to growth [16][25] - The company anticipates 2026 to be a year of growth, with expectations for a stronger product mix and continued support from sponsorships and lifestyle activities [24][25] Other Important Information - The company completed its EUR 2 billion share buyback program one year ahead of schedule, reflecting strong financial performance [18] - A competitive award of up to EUR 14,900 was announced for employees in Italy, aligning employee rewards with company performance [10] Q&A Session Summary Question: Margin expectations for 2026 - Management indicated that operating margins are expected to be flat to down in H1 2026, with an anticipated increase in the second half due to a stronger product mix [29][31] Question: 2026 guidance on mix and pricing - Management expects mix and pricing to offset higher SG&A and industrial costs in 2026 [35][36] Question: Models driving the order book - The 296 Speciale, Testarossa, and Amalfi models are currently driving the order book, with new clients attracted to the brand [40][41] Question: F80 shipments in Q4 - A few units of the F80 were shipped in Q4, with production ramping up as planned [51] Question: Foreign exchange impact on bottom line - The company anticipates a EUR 200 million headwind from foreign exchange rates in 2026, primarily due to the lack of hedging benefits compared to 2025 [62][90] Question: R&D and government grants - R&D expenses are expected to remain stable, with additional government grants anticipated in future years [116] Question: Residual values and dealer confidence - Residual values are reported as stable and solid, with strong dealer confidence in the brand [50][56]

Financial Data and Key Metrics Changes - In 2025, the company achieved revenues exceeding EUR 7.1 billion, with double-digit growth in EBIT reaching over EUR 2.1 billion and industrial cash flow generation surpassing EUR 1.5 billion [9][20][22] - The EBITDA margin was reported at 38.8% and EBIT margin at 29.5%, despite challenges from increased U.S. import duties and currency headwinds [20][22] - The industrial free cash flow generation increased by approximately 50% compared to the previous year [20] Business Line Data and Key Metrics Changes - The sports car segment saw an improved mix, contributing positively to revenue growth, despite the phase-out of the Daytona SP3 [15][17] - Revenues from racing increased due to new partnerships and improved sponsor contributions [15] - The lifestyle segment maintained a growth pace, supported by successful client activations and increased engagement [15] Market Data and Key Metrics Changes - The company reported a solid order book extending towards the end of 2027, indicating strong demand dynamics [10] - The residual values of vehicles remained stable, supported by strong auction valuations [10] Company Strategy and Development Direction - The company launched six new sports cars in 2025, including the Ferrari Luce, as part of its strategy for horizontal product diversification and technology neutrality [5][6] - Plans for 2026 include the complete introduction of the Ferrari Luce and the launch of four additional models, focusing on innovation and craftsmanship [10][12] - The company aims to enhance its lifestyle retail network with new flagship stores in London and New York [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's momentum and the ability to navigate persistent global uncertainties [10][14] - The company anticipates continued growth in 2026, with a focus on model changeovers and maintaining a strong product mix [22][24] - Management emphasized the importance of client centricity and the unique experience offered to customers [7][9] Other Important Information - The company successfully concluded its EUR 2 billion share buyback program one year ahead of schedule [16] - A competitive award of up to EUR 14,900 was announced for employees in Italy, reflecting the company's strong performance [9] Q&A Session Summary Question: Margin expectations for 2026 - Management indicated that operating margins are expected to be flat to up in the second half of 2026, with a stronger product mix anticipated [27][30] Question: 2026 guidance on mix and pricing - Management expects mix and pricing to offset higher SG&A and industrial costs in 2026 [34][35] Question: Models driving the order book - The 296 Speciale and Testarossa models are significant contributors to the order book, with new clients attracted by the Amalfi model [38][39] Question: Residual value trends - Residual values are stable and solid, with actions taken in the UK to stabilize values through reduced shipments [49][50] Question: FX impact on EBIT - A EUR 200 million headwind from foreign exchange is anticipated for 2026, primarily due to the lack of hedging benefits compared to 2025 [62][92] Question: R&D and CapEx expectations - R&D expenses are expected to remain stable, with CapEx anticipated to be slightly higher in 2026 [35][129]

Group 1 - U.S. retail sales in December remained flat month-over-month, falling short of expectations [1] - Major U.S. stock indices opened higher, with the Nasdaq up 0.14%, S&P 500 up 0.16%, and Dow Jones up 0.29% [1] Group 2 - TSMC's stock rose by 2.5%, with January sales increasing by 36.8% year-over-year to NT$401.26 billion, marking a new high [1] - Ferrari's stock surged over 8% after Q4 net profit exceeded expectations, benefiting from optimized product mix and increased demand for custom models [1] - AstraZeneca's stock increased by 3.3%, with product sales growing by 9% to over $55.5 billion last year, and the company expects to maintain growth this year [1] - BP's stock fell over 5% after the company announced the cancellation of a $750 million shareholder return plan to focus on debt reduction [1]

智通财经APP获悉，周二，法拉利(RACE.US)盘前涨逾7%，报361.20美元。财报显示，法拉利2025财年 第四季度净营收增至18亿欧元(约合21.4亿美元)，超过了机构预期的17.7亿欧元。期内净利润3.81亿欧 元，亦高于预期的3.74亿欧元。同时，该公司发布2026财年业绩指引，预计营收约75亿欧元，略低于市 场预估的75.3亿欧元；预计调整后税息折旧及摊销前利润不低于29.3亿欧元，高于市场预估的29.1亿欧 元。 ...

周二，法拉利(RACE.US)盘前涨逾7%，报361.20美元。财报显示，法拉利2025财年第四季度净营收增至 18亿欧元(约合21.4亿美元)，超过了机构预期的17.7亿欧元。期内净利润3.81亿欧元，亦高于预期的3.74 亿欧元。同时，该公司发布2026财年业绩指引，预计营收约75亿欧元，略低于市场预估的75.3亿欧元； 预计调整后税息折旧及摊销前利润不低于29.3亿欧元，高于市场预估的29.1亿欧元。 ...

. FY 2025 RESULTS MARANELLO, FEBRUARY 10, 2026 STRONG PERFORMANCE IN 2025 SETS THE FOUNDATION FOR CONTINUED GROWTH IN 2026 Revenues at ~€7.1B, EBIT(1) at ~€2.1B with +12% growth YoY and industrial free cash flow(1) generation above €1.5B Further enrichment of product line-up with 6 new models, among which the initial steps of reveal of the Ferrari Luce FORWARD LOOKING STATEMENT This document, and in particular the section entitled "2026 Guidance", contain forward-looking statements. These statements may inc ...

Core Viewpoint - Ferrari reported quarterly earnings of $2.49 per share, exceeding the Zacks Consensus Estimate of $2.44 per share, and showing an increase from $2.28 per share a year ago, indicating a positive earnings surprise of +2.05% [1] Financial Performance - The company achieved revenues of $2.1 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 3.66%, and up from $1.85 billion year-over-year [2] - Over the last four quarters, Ferrari has consistently surpassed consensus EPS estimates and revenue estimates [2] Stock Performance and Outlook - Ferrari shares have declined approximately 9.1% since the beginning of the year, contrasting with the S&P 500's gain of 1.7% [3] - The future performance of Ferrari's stock will largely depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $2.60 on revenues of $2.05 billion, and for the current fiscal year, it is $10.92 on revenues of $8.57 billion [7] - The estimate revisions trend for Ferrari was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Automotive - Original Equipment industry, to which Ferrari belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

格隆汇2月10日｜法拉利公司公布第四季度盈利增长，因产品结构优化及定制车型需求提升，帮助这家 豪华汽车制造商抵消了车型换代期间交付放缓的影响。该公司周二表示，第四季度净营收增至18亿欧元 （约合21.4亿美元），超过了机构预期的17.7亿欧元。其利润也超出预期，且对今年的展望超过了分析 师的预测。财报公布后，该公司欧股股价上涨6%。 ...