Ferrari (NYSE:RACE) just hit another gear, reporting a solid 6.5% revenue jump in Q3 2024, totaling 1.64 billion, fueled by a high-demand product lineup and expanding brand partnerships. Despite a slight 2.2% dip in vehicle shipments to 3,383 units, Ferrari's geographic allocation strategy delivered a surge in the EMEA region and steady traction from models like the Purosangue and the SF90 lineup. Notably, brand revenues leapt 20%, driven by fresh sponsorships, proving that Ferrari isn't just an icon on the road but a powerhouse in brand value.

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The numbers are on fire, too. Adjusted EBIT climbed 10.3%, hitting 467 million, pushing Ferrari's EBIT margin up to 28.4%. Adjusted net profit rose 13% to 375 million, and diluted EPS reached 2.08. With 364 million in industrial free cash flow, Ferrari has ample fuel in the tank for future growth, bolstered by a lean approach to cost and heightened cash flow management.

Ferrari CEO Benedetto Vigna remains laser-focused on the company's ambitious carbon-neutral goal by 2030, underscored by shutting down the Maranello trigeneration plant ahead of schedule. And let's talk innovation: the recent reveal of the F80 supercar, a limited edition that screams Ferrari DNA, is already stirring demand. With new models and a robust order book stretching into 2026, Ferrari's growth engine seems primed and ready for the road ahead.

This article first appeared on GuruFocus.