Ferrari N V Stock Price, News & Analysis

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.

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. From July 15-19, 2024, Ferrari purchased 36,950 common shares on the Euronext Milan (EXM) for a total of Euro 14,403,960.96, with an average price per share of Euro 389.8230.

Since the announcement of the Fifth Tranche, Ferrari has invested Euro 42,214,423.87 for 107,950 shares on EXM and USD 699,921.73 for 1,627 shares on NYSE. As of July 19, 2024, Ferrari held 14,275,243 treasury shares, representing 5.55% of its total issued share capital. The company has purchased a total of 3,451,139 shares worth Euro 965,603,288.60 since the program's inception on July 1, 2022.

Ferrari N.V. (NYSE/EXM: RACE) has announced the release date for its second quarter 2024 financial results. The results will be unveiled on Thursday, August 1, 2024, followed by a live audio webcast and conference call at 2:00 p.m. BST / 3:00 p.m. CEST / 9:00 a.m. EDT. Investors and interested parties can access the presentation details through Ferrari's corporate website in the Investors section. Advance registration is required for the conference call. For those unable to attend the live session, a replay will be available on Ferrari's website for two weeks after the event.

Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program. As part of the Euro 250 million fifth tranche announced on June 28, 2024, the company has purchased additional common shares on the Euronext Milan (EXM) and New York Stock Exchange (NYSE) between July 4 and July 12, 2024.

Key points:

• Total shares purchased: 50,627
• Average price per share: €395.3221
• Total consideration: €20,013,970.68
• As of July 12, 2024, Ferrari held 14,238,293 treasury shares, representing 5.54% of total issued share capital
• Since the multi-year buyback program's start on July 1, 2022, Ferrari has purchased 3,414,189 shares for a total of €951,199,327.64

This buyback is part of Ferrari's larger €2 billion multi-year program expected to be executed by 2026, as disclosed during the 2022 Capital Markets Day.

Ferrari N.V. (NYSE/EXM: RACE) has announced the purchase of 22,000 common shares on Euronext Milan under its Euro 250 million buyback program launched on June 28, 2024. This program is part of a larger Euro 2 billion multi-year buyback plan set to run until 2026. From July 1 to July 3, 2024, Ferrari bought shares at an average price of €383.69, totaling €8,441,284.25. As of July 3, 2024, the company holds 14,187,666 common shares in treasury, equating to 5.52% of total issued share capital. Since the program's inception on July 1, 2022, Ferrari has acquired 3,363,562 shares for €931,185,356.96. Detailed buyback information is available on Ferrari’s corporate website.

Ferrari N.V. (NYSE/EXM: RACE) has completed the fourth tranche of its multi-year share buyback program, buying a total of 971,899 common shares for approximately Euro 349.99 million. This tranche is part of a larger Euro 2 billion buyback initiative expected to be completed by 2026.

The company has announced a fifth tranche, set to start on July 1, 2024, with a maximum value of Euro 250 million. This includes a Euro 200 million non-discretionary buyback agreement on the EXM and a Euro 50 million additional mandate on the NYSE.

As of June 27, 2024, Ferrari holds 14,165,666 treasury shares, representing 5.51% of total issued share capital. Details of these transactions are available on Ferrari's corporate website.