Ferrari Beat Estimates. So Why Is the Stock Down?

Despite the Iran conflict threatening to slow Ferrari (NYSE: RACE) in the first quarter, the iconic supercar maker still beat earnings estimates. Ferrari also confirmed its full-year guidance, suggesting its strategy to bring forward certain deliveries in other regions has mitigated any impact in the Middle East, which remains an important luxury goods hub. While Ferrari topped estimates, the stock continued its year-long slide lower.What's got investors so anxious?Ferrari delivered 3,436 vehicles during the first quarter, which was down a modest 157 vehicles from the previous year. Despite a slight decline in shipments, Ferrari posted a 3% increase in revenue to 1.85 billion euros, or $2.16 billion, topping analysts' consensus estimates of 1.83 billion euros. It was a similar story for adjusted earnings per share, which checked in at 2.33 euros per share, ahead of the 2.31 euros per share expected by analysts. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool