Ferrari N V Stock Price, News & Analysis

Ferrari N.V. (NYSE/EXM: RACE) has announced an update on its Euro 250 million share buyback program, which is part of a larger Euro 2 billion multi-year buyback plan set to run until 2026. From September 23 to September 30, 2024, Ferrari purchased 46,419 common shares at an average price of 425.8770 euros, totaling 19,768,783.46 euros.

The company bought shares on both the Euronext Milan (EXM) and the New York Stock Exchange (NYSE). Since the announcement of this fifth tranche, Ferrari has invested 120,198,039.44 euros for 295,150 shares on EXM and 29,095,540.83 USD (26,200,615.14 euros) for 61,595 shares on NYSE.

As of September 30, 2024, Ferrari held 14,522,411 treasury shares, representing 5.65% of its total issued share capital. Since the program's inception on July 1, 2022, the company has purchased 3,698,307 shares for a total of 1,069,142,727.30 euros.

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 September 16 to September 20, 2024, Ferrari purchased a total of 42,089 common shares at an average price of Euro 418.8299, for a total consideration of Euro 17,628,132.33. These purchases were made on both the Euronext Milan (EXM) and the New York Stock Exchange (NYSE).

As of September 20, 2024, Ferrari held 14,475,992 common shares in treasury, representing 5.63% of the total issued share capital. Since the start of the multi-year buyback program on July 1, 2022, the company has purchased a total of 3,651,888 common shares for a total consideration of Euro 1,049,375,202.35.

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 set to run until 2026. The current tranche, announced on June 28, 2024, has a value of Euro 250 million. From September 10 to 13, 2024, Ferrari purchased:

- 21,350 shares on EXM at an average price of €425.4026
- 12,996 shares on NYSE at an average price of $469.2569

The total investment for this period was €14,605,631.61. Since the start of the fifth tranche, Ferrari has invested €95,354,985.16 on EXM and $15,096,772.10 on NYSE. As of September 13, 2024, Ferrari held 14,433,903 treasury shares, representing 5.62% of its total issued share capital.

Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program. From September 2 to September 9, 2024, the company purchased a total of 41,198 common shares at an average price of €435.6410, for a total consideration of €17,947,536.96. These purchases were made on both the Euronext Milan (EXM) and New York Stock Exchange (NYSE).

This is part of the €250 million share buyback program announced on June 28, 2024, which is the fifth tranche of a larger multi-year buyback program of approximately €2 billion expected to be executed by 2026. Since the announcement of this fifth tranche, Ferrari has invested a total of €94,397,365.70 for 233,891 common shares.

As of September 9, 2024, Ferrari held 14,399,557 treasury shares, representing 5.60% of its total issued share capital. Since the start of the multi-year program in July 2022, the company has purchased 3,575,453 common shares for a total of €1,017,141,438.41.

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 repurchase plan announced on June 28, 2024.

From August 23 to August 30, 2024, Ferrari bought back 33,616 common shares at an average price of €437.4443 per share, totaling €14,705,128.16. These purchases were made on both the Euronext Milan (EXM) and New York Stock Exchange (NYSE). Since the Fifth Tranche began, Ferrari has invested €73,651,128.73 for 186,150 shares on EXM and approximately €9,117,101 for 6,543 shares on NYSE.

As of August 30, 2024, Ferrari held 14,358,359 treasury shares, representing 5.59% of its total issued share capital. Since the multi-year buyback program's inception on July 1, 2022, Ferrari has repurchased 3,534,255 shares for a total of €999,193,901.46.

Ferrari N.V. (NYSE/EXM: RACE) has announced a significant multi-year partnership with UniCredit S.p.A., set to commence on January 1, 2025. This collaboration will see UniCredit supporting Ferrari S.p.A., a wholly-owned subsidiary of Ferrari N.V., in its Formula 1 racing activities. The partnership marks a strategic alliance between two prominent Italian brands, potentially boosting Ferrari's financial resources and global visibility in the competitive world of Formula 1 racing. While specific financial terms were not disclosed, such partnerships typically involve substantial sponsorship deals that can significantly impact a company's marketing and operational budgets in motorsport.

Ferrari N.V. (NYSE/EXM: RACE) has announced the termination of its partnership with Santander, effective December 31, 2024. The collaboration, which began in January 2022 following a previous stint from 2010 to 2017, will conclude as the three-year contract expires. Santander has served as a Premium Partner for Scuderia Ferrari in Formula 1 and supported Ferrari's Le Mans Hypercar (LMH) program.

Lorenzo Giorgetti, Chief Racing Revenue Officer of Ferrari, expressed gratitude for Santander's dedication and contributions to Ferrari's achievements over the past three years. Juan Manuel Cendoya, global head of Communications, Corporate Marketing and Research at Santander, acknowledged the importance of sponsorships in client engagement and brand reinforcement, indicating that Santander will continue to work with various partners in the future.

Ferrari N.V. (NYSE/EXM: RACE) reported strong Q2 2024 results, demonstrating continued growth and execution. Net revenues increased 16.2% year-over-year to €1,712 million, with total shipments up 2.7% to 3,484 units. Adjusted EBIT rose 17.0% to €511 million, with a margin of 29.9%. Adjusted net profit reached €413 million, with adjusted diluted EPS at €2.29. Adjusted EBITDA grew 13.7% to €669 million, with a margin of 39.1%. The company generated €121 million in industrial free cash flow.

CEO Benedetto Vigna highlighted the enrichment of product mix and increased demand for personalizations as key drivers. Ferrari upgraded its 2024 guidance based on these results. The quarter also saw the inauguration of a new e-building and another victory at the 24 Hours of Le Mans.

Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. The current phase, the Fifth Tranche, involves a Euro 250 million share buyback announced on June 28, 2024. From July 22 to July 29, 2024, Ferrari purchased 49,500 common shares on the Euronext Milan (EXM) for a total of Euro 18,885,484.70.

Since the Fifth Tranche began, Ferrari has invested Euro 61,099,908.57 for 157,450 shares on EXM and USD 699,921.73 for 1,627 shares on NYSE. As of July 29, 2024, Ferrari held 14,324,743 treasury shares, representing 5.57% of its total issued share capital. The company has purchased 3,500,639 shares worth Euro 984,488,773.30 since the program's inception on July 1, 2022.