Ferrari’s recent market performance showed promising results. The high-end luxury brand managed to report incredible first quarter results. The auto company’s core earnings and higher sales were one of the highlights from the successful quarter.
Furthermore, Ferrari’s incredible first quarter performance manages to push its stock price in the market. The company’s strong quarter managed to entice a lot of investors, pushing their market performance last Friday on the bullish boards.
Ferrari Price Upgrade after Record-Breaking Performance
The automobile’s stock also found a price upgrade. Several brokers from both Italy and US gave the luxury company a new price upgrade after better than expected first quarter performance. The company, which is both listed in Italy and the U.S., saw a price increase from 110 to 115 euros.
Ferraro’s stock price surged to an all-time high last week after quarterly reports were shown. The company’s stock managed to hit an incredible 7% increase on the market hitting the lucrative 114.70 euro price range.
The stock was trading on an amazing note at Milan’s Borsa Italiana stock exchange. The company also managed to push the local European Stoxx 600 index higher. The company also leads the auto sector on successful first quarter results.
Ferrari Q1 Figures Breakdown
The luxury brand’s stellar report starts on their powerful adjusted earnings before tax which increased by a whopping 272 million euros. That is a total of $325 million increase for their first quarter, and way ahead of the expected 261 million euros forecasts.
According to the company’s report, the stunning increase on its 12 cylinder model sales managed to buoy the quarter’s rigid performance.
Furthermore, Ferrari’s profit margin was also up by a total of 32.8% from the 29.5% latter. They also reported a drop in their industrial debt to 413 million euros in the quarter. The company’s former industrial debt was reported to be at the 473 million euros mark.
More of Ferrari Q1 Figures
The company’s global deliveries also managed to jump on the same quarter. It managed to report an increase of about 6.2% to 2,128. The global deliveries managed to benefit from the popularity of the V-12 models, the 812 Superfast to be exact. On the other hand, the sales for their V-8 models were reportedly the same as last year’s first quarter.
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