Summary by Moomoo AI
Ferrari reported strong Q3 2024 results, with net revenues up 6.5% to €1.64 billion and adjusted EBIT rising 10.3% to €467 million. The luxury automaker saw continued growth in its core business, driven by a richer product mix and increased personalizations.Shipments totaled 3,383 units, down 2.2% year-over-year due to deliberate geographic allocations. The Ferrari Purosangue, Roma Spider, and 296 GTS drove deliveries. Hybrid models represented 55% of shipments. The company generated robust industrial free cash flow of €364 million.Based on these results, Ferrari raised its full-year 2024 guidance. The company now expects net revenues to exceed €6.55 billion, with an adjusted EBIT margin of at least 27.5%. Ferrari cited positive product mix, stronger personalizations, and new sponsorships as key drivers for the improved outlook.