Ferrari Reports Record Third-Quarter Results, Tweaks Guidance; Maintaining $52 Fair Value Estimate
Wide-moat-rated Ferrari, the Formula One racer and exotic sports car maker, reported earnings per share before special items of EUR 0.59, EUR 0.04 ahead of consensus EPS of EUR 0.55 and EUR 0.09 better than the year-ago EPS of EUR 0.50. For the quarter, revenue growth once again substantially outpaced volume, demonstrating the brand’s vast pricing power. However, the market is quickly catching on to Ferrari’s moatiness, having bid the stock higher by roughly 35% since the beginning of the third ...
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