08:10 AM EDT, 05/06/2025 (MT Newswires) -- (Updates with additional details on guidance and recent share movement starting in the sixth paragraph.)

Ferrari (RACE) reported Q1 adjusted earnings Tuesday of 2.30 euros ($2.60) per diluted share, up from 1.95 euros a year earlier.

Analysts polled by FactSet expected 2.28 euros.

Net revenue for the quarter ended March 31 was 1.79 billion euros, compared with 1.59 billion euros a year earlier.

Analysts polled by FactSet expected 1.77 billion euros.

The company said it continues expects 2025 adjusted EPS of at least 8.60 euros on net revenue of more than 7 billion euros. Analysts polled by FactSet expect 8.95 euros in adjusted EPS on revenue of 7.18 billion euros.

Ferrari said the outlook "is subject to a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins), in relation to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA."

Ferrari shares were 0.8% lower in recent premarket activity.