Ferrari N V Stock Price, News & Analysis

Ferrari (NYSE/EXM: RACE) has announced a multi-year agreement with Andretti Formula Racing, set to begin in 2026. Under this agreement, Ferrari will supply power units and gearboxes to the Andretti racing team, which is led by TWG Global and General Motors. The agreement is contingent upon Andretti Formula Racing receiving official confirmation and approval from the FIA for their entry into the 2026 FIA Formula One Championship.

Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its Euro 250 million share buyback program announced on June 28, 2024. This represents the fifth tranche of their multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026. Between November 13-20, 2024, Ferrari purchased 18,671 common shares on the NYSE at an average price of $433.79, totaling $8,099,230.10 (€7,658,668.37). As of November 21, 2024, Ferrari held 14,765,168 treasury shares, representing 5.75% of total issued share capital. Since the program's inception in July 2022, Ferrari has purchased 3,942,404 shares for a total consideration of Euro 1,171,406,136.74.

Ferrari N.V. (NYSE/EXM: RACE) has completed significant share buybacks under its €250 million program announced on June 28, 2024. This represents the fifth tranche of a larger €2 billion multi-year buyback program expected to run through 2026. Between November 4-6, 2024, Ferrari purchased 68,148 common shares on Euronext Milan for €28,173,908.18.

As of November 8, 2024, the total invested amount reached €199,999,033.02 for 484,498 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE. The company now holds 14,746,497 treasury shares, representing 5.74% of total issued share capital. Since the program's inception in July 2022, Ferrari has purchased 3,923,733 shares for a total of €1,163,747,468.36.

Ferrari reported strong Q3 2024 financial results with net revenues of €1,644 million, up 6.5% year-over-year. The company delivered 3,383 units, down 2.2% from the previous year. Adjusted EBIT reached €467 million, increasing 10.3% with a 28.4% margin. Adjusted net profit grew to €375 million, with adjusted diluted EPS at €2.08. The quarter saw strong product mix and increased personalizations, with hybrid models representing 55% of shipments. Industrial free cash flow was €364 million, and the company expressed increased confidence in its 2024 guidance.

Ferrari N.V. (NYSE/EXM: RACE) has reported its latest share buyback activities under the €250 million program announced on June 28, 2024. This represents the fifth tranche of their €2 billion multi-year buyback program expected to run through 2026. From October 28 to November 1, 2024, Ferrari purchased 18,300 common shares on the Euronext Milan (EXM) at an average price of €446.5533, totaling €8,171,925.21.

As of November 1, 2024, the total invested consideration since the fifth tranche announcement includes €171,825,124.84 for 416,350 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE. The company now holds 14,678,349 treasury shares, representing 5.71% of total issued share capital.

Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its share buyback program. Under the €250 million fifth tranche announced on June 28, 2024, Ferrari purchased 17,800 common shares on EXM between October 21-25, 2024, at an average price of €445.9434, totaling €7,937,793.27.

Since the fifth tranche announcement, Ferrari has invested €163,653,199.63 for 398,050 shares on EXM and USD 45,452,667.64 for 97,673 shares on NYSE. As of October 25, 2024, Ferrari held 14,661,389 treasury shares, representing 5.71% of total issued share capital.

This is part of Ferrari's larger €2 billion multi-year buyback program announced during the 2022 Capital Markets Day, under which the company has purchased 3,837,285 shares for €1,127,401,634.97 since July 1, 2022.

Ferrari (NYSE/EXM: RACE) has announced a multi-year renewal of its partnership with Shell, effective January 1, 2026. The renewed agreement will cover three key areas: Scuderia Ferrari HP, Ferrari Hypercar, and the Ferrari Challenge Series. This extension continues the long-standing collaboration between the two global brands.

Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, which is part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. The current phase, known as the Fifth Tranche, involves a Euro 250 million share buyback announced on June 28, 2024.

From October 14 to October 18, 2024, Ferrari purchased 17,600 common shares on the Euronext Milan (EXM) at an average price of €437.7275 per share, totaling €7,704,003.72. Since the Fifth Tranche began, Ferrari has invested €155,715,406.35 for 380,250 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE.

As of October 18, 2024, Ferrari held 14,643,589 treasury shares, representing 5.70% of its total issued share capital. Since July 1, 2022, the company has purchased 3,819,485 shares for a total of €1,119,463,841.70 across both EXM and NYSE.

Ferrari N.V. (NYSE/EXM: RACE) has announced that its financial results for the third quarter of 2024 will be released on Tuesday, November 5, 2024. The company will host a live audio webcast and conference call to discuss the Q3 2024 results, starting at 2:00 p.m. GMT / 3:00 p.m. CET / 9:00 a.m. EST on the same day.

Investors and interested parties can access the presentation details in the Investors section of Ferrari's corporate website prior to the event. Advanced registration is required to obtain the conference call details. For those unable to attend the live session, a replay will be available on Ferrari's corporate website for two weeks following the call.