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Ferrari Skids As Wartime Disruptions Hit Deliveries
Ferrari Skids As Wartime Disruptions Hit Deliveries
Ferrari shares fell as much as 3% in Milan after first-quarter results showed stronger-than-expected profit and cash flow, but the beat was overshadowed by a plunge in deliveries in the Middle East, as the U.S.-Iran conflict disrupted shipments to one of the luxury automaker's key markets.
Ferrari's first-quarter results were broadly ahead of expectations on profit, revenue, and cash flow, but deliveries across EMEA, which includes Europe, the Middle East, and Africa, were the clear outlier.
Regional shipments fell to 1,458 units, down 14% year...
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