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How Is Ferrari Stock Faring ahead of Its Q2 Earnings?

Jitendra Parashar - Author

Nov. 20 2020, Updated 11:36 a.m. ET

Ferrari’s Q2 2018 earnings in focus

Italian luxury supercar maker Ferrari (RACE) plans to release its second-quarter earnings on August 1. On Saturday, July 21, Louis C. Camilleri was named the company’s CEO after its former CEO, Sergio Marchionne, left the company due to his worsening health. 

On July 25, the day of Ferrari’s former parent company Fiat Chrysler’s (FCAU) second-quarter earnings event, Marchionne passed away. This event affected the company and its shareholders alike, driving pessimism in FCAU stock. Until July 21, 66-year-old Marchionne was also serving as Fiat Chrysler’s CEO.

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Ferrari stock: Q2 2018 movement

In the second quarter, Ferrari stock has traded with optimism and yielded returns of 12.0% returns after rising 15.0% in the first quarter. In contrast, the S&P 500 Index has risen just 2.9% during the second quarter. Ferrari’s strong fundamentals, driven by its planned production volume increase, could be among the reasons for this optimism in its stock.

Automakers (XLY) General Motors (GM) and Tesla (TSLA) delivered 8.4% and 28.9% returns. In contrast, Ford (F) remained nearly flat while Fiat Chrysler lost 7.9% in the second quarter. Please read Why Fiat Chrysler Stock Tanked ~15% after Q2 Results.

On July 25, Ferrari stock was down 0.4% on a month-to-date basis. The stock has witnessed sharp downward movement in the last three sessions after the news of Marchionne’s departure from the company came out.

Series overview

In this series, we’ll take a look at analysts’ consensus estimates for Ferrari’s second-quarter revenues and profit margin. We’ll also see how the company’s valuation multiples are trending ahead of its second-quarter earnings event. We’ll look at a quick recap of Ferrari’s first-quarter earnings in the next part and then move on to its second-quarter earnings estimates.


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