Italian luxury sports carmaker Ferrari N.V. (RACE) reported Tuesday that its net profit for the first quarter increased to 413 million euros or 2.33 euros per share from 412 million euros or 2.30 euros per share in the prior-year quarter.
Net revenues for the quarter increased 3 percent to 1.85 billion euros from 1.79 billion euros in the same quarter last year. It was up 6 percent at constant currency.
Shipments for the quarter totaled 3,436 units, down 157 units from last year. Deliveries in the quarter were driven by the increase in deliveries of 12Cilindri family, the Purosangue and the SF90 XX family, while the 296 family and the Roma Spider decreased in line with model lifecycles.
The company noted that total deliveries were not impacted by the surge of hostilities in the Middle East, as Ferrari leveraged its geographical allocation flexibility, bringing forward certain deliveries to other regions.
Looking ahead for fiscal 2026, Ferrari continues to project adjusted earnings of higher than 9.45 euros per share on net revenues of around 7.50 billion euros.
The company also said a dividend distribution of approximately Euro 640 million was approved by the 2026 Annual General Meeting and will be paid today. In Tuesday's pre-market trading, RACE is trading on the NYSE at $336.00, down $3.04 or 0.90 percent.
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