Milan, Italy – Ferrari, the renowned Italian luxury car manufacturer, recently released its first-quarter results for 2024, showcasing another impressive performance despite various challenges. The company’s revenue and earnings surpassed expectations, demonstrating a continued double-digit growth trajectory amidst currency fluctuations and the conclusion of the Maserati contract.

One significant highlight of Ferrari’s Q1-24 results was the intentional flat shipment numbers, showcasing the company’s commitment to maintaining exclusivity and scarcity in its products. This strategy, coupled with pricing adjustments and product mix enhancements, contributed to the overall revenue growth of 10.9% year-over-year.

Furthermore, Ferrari’s operational efficiency led to a 14.8% increase in operating profit and a 20.4% growth in EPS, driven by strategic buybacks and reduced financial expenses. The company also made notable announcements during the quarter, including a lucrative sponsorship agreement with HP, Inc., and the introduction of two exciting new models, generating substantial buzz among clients.

Despite the positive financial performance, Ferrari’s management remains conservative in their guidance for 2024, a common practice for the company. However, analysts anticipate that Ferrari is well-positioned to surpass its guidance, considering its historical track record of outperforming expectations.

One key aspect of Ferrari’s success lies in its dedication to maintaining scarcity, as evidenced by its deliberate limitation of sales in specific regions to uphold the brand’s prestige. Additionally, the company’s high percentage of repeat customers and robust order books, sold out until 2026, highlight the strong demand for Ferrari’s luxury vehicles.

Looking ahead, Ferrari’s strong growth trajectory and strategic business decisions continue to attract investor interest, reflected in the high employee participation in the company’s share ownership plan. As the company continues to deliver exceptional results, analysts remain optimistic about Ferrari’s potential to provide market-beating returns in the future.