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Earnings season continues to chug along, picking up notable steam over the last couple of weeks. We’ve received many positive surprises throughout the period, undoubtedly to the likes of investors as companies continue to navigate a unique macroeconomic situation.
Regarding positivity, three companies – Wix.com (WIX - Free Report) , Twilio (TWLO - Free Report) , and Ferrari (RACE - Free Report) – all delivered results above expectations, with each lifting their outlooks.
Given the strong results, what was there to like in each respective release? Let’s take a closer look.
Ferrari
Luxury sports car manufacturer Ferrari was firing on all cylinders (literally) throughout its latest period, with the company exceeding the Zacks Consensus EPS Estimate by more than 12% and delivering a 2% revenue surprise.
Impressively, the results reflected the sixth consecutive quarter of exceeding consensus earnings and revenue expectations. As shown below, the company’s revenue has recovered nicely from pandemic lows and is now seeing an acceleration.
Image Source: Zacks Investment Research
The company’s better-than-expected results have been fueled by continued strength among higher-end consumers, with Ferrari’s order book remaining at its highest levels and covering its entire 2025. In fact, shipments throughout the period totaled 3,459, up 217 units, or 9%, compared to the same period last year.
Following the results, Ferrari raised its current year (FY23) guidance thanks to a strong product mix and better-than-expected demand among personalization features. The company now expects higher net revenues, industrial free cash flow, adjusted EPS, and adjusted EBITDA.
Analysts have been taking their current year expectations for Ferrari higher for some time now, with the current $7.00 Zacks Consensus EPS Estimate up nearly 20% over the last year. The current value reflects a 30% boost year-over-year, with the stock also carrying a Style Score of “A” for Growth.
Image Source: Zacks Investment Research
Twilio
Twilio provides a customer engagement platform that drives real-time, personalized experiences for today’s leading brands. The company’s quarterly results have consistently been robust in 2023, with it exceeding the Zacks Consensus EPS Estimate by an average of 160% across its last four releases.
Regarding the release in focus, Twilio exceeded the Zacks Consensus EPS Estimate by 65%, well above the year-ago loss of -$0.27 per share. Quarterly revenue totaled $1.03 billion, 5% ahead of expectations and showing growth of 5% year-over-year.
Twilio’s revenue growth has been remarkable, as we can see below. Please note that this chart is on an annual basis. Concerning its current year (FY23), the Zacks Consensus Estimate of $4.04 billion suggests a 5% climb from FY22.
Image Source: Zacks Investment Research
In addition, Active Customer Accounts totaled 306,000, reflecting growth of 9.3% from the year-ago figure of 280,000. Active Customer Accounts growth bodes highly favorably for the company, reflecting that consumers continue flocking to its platform and, in turn, boosting top line performance.
Given the solid quarterly results, Twilio upped its FY23 guidance for adjusted income from operations, now expecting results in a band of $475 – $485 million. It’s worth noting that this metric has already been revised higher twice throughout 2023, once in May and once in August.
Investors will have to fork up a small premium for the company’s shares, currently trading at a 2.5X forward price-to-sales ratio (F1), above the respective Zacks Internet – Software industry modestly. Still, on a historical basis, the current value is nowhere near the steep 13.5X five-year median and five-year highs of 36.5X.
Image Source: Zacks Investment Research
Wix.com
Wix.com is the leading SaaS website builder platform globally. The company reported Q3 revenue of $393.8 million, up 14% from the year-ago period and ahead of the Zacks Consensus Estimate.
Better than expected revenue generation and improved operational efficiencies boosted free cash flow to $62.8 million. Further, Partners revenue totaled $119.4 million, climbing an impressive 40% from the year-ago period as consumers continue to flock to the company’s platform.
And given the results, Wix.com boosted its FY23 outlook, now expecting full-year revenue in a band of $1.558 - $1.563 billion, up from prior views of $1.543 - $1.556 billion.
It’s worth noting that WIX shares have primarily faced negative reactions following quarterly results, as we can see below. Despite a full-year guidance lift, shares have faced adverse price action in today’s session as well.
Image Source: Zacks Investment Research
Bottom Line
Earnings season continues its rapid pace, with a plethora of companies unveiling quarterly results daily.
So far, the period has primarily been positive, especially when including recent results from Wix.com (WIX - Free Report) , Ferrari (RACE - Free Report) , and Twilio (TWLO - Free Report) . All three raised their outlooks following better-than-expected results.
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Earnings Season: 3 Companies Boosting Outlooks
Earnings season continues to chug along, picking up notable steam over the last couple of weeks. We’ve received many positive surprises throughout the period, undoubtedly to the likes of investors as companies continue to navigate a unique macroeconomic situation.
Regarding positivity, three companies – Wix.com (WIX - Free Report) , Twilio (TWLO - Free Report) , and Ferrari (RACE - Free Report) – all delivered results above expectations, with each lifting their outlooks.
Given the strong results, what was there to like in each respective release? Let’s take a closer look.
Ferrari
Luxury sports car manufacturer Ferrari was firing on all cylinders (literally) throughout its latest period, with the company exceeding the Zacks Consensus EPS Estimate by more than 12% and delivering a 2% revenue surprise.
Impressively, the results reflected the sixth consecutive quarter of exceeding consensus earnings and revenue expectations. As shown below, the company’s revenue has recovered nicely from pandemic lows and is now seeing an acceleration.
Image Source: Zacks Investment Research
The company’s better-than-expected results have been fueled by continued strength among higher-end consumers, with Ferrari’s order book remaining at its highest levels and covering its entire 2025. In fact, shipments throughout the period totaled 3,459, up 217 units, or 9%, compared to the same period last year.
Following the results, Ferrari raised its current year (FY23) guidance thanks to a strong product mix and better-than-expected demand among personalization features. The company now expects higher net revenues, industrial free cash flow, adjusted EPS, and adjusted EBITDA.
Analysts have been taking their current year expectations for Ferrari higher for some time now, with the current $7.00 Zacks Consensus EPS Estimate up nearly 20% over the last year. The current value reflects a 30% boost year-over-year, with the stock also carrying a Style Score of “A” for Growth.
Image Source: Zacks Investment Research
Twilio
Twilio provides a customer engagement platform that drives real-time, personalized experiences for today’s leading brands. The company’s quarterly results have consistently been robust in 2023, with it exceeding the Zacks Consensus EPS Estimate by an average of 160% across its last four releases.
Regarding the release in focus, Twilio exceeded the Zacks Consensus EPS Estimate by 65%, well above the year-ago loss of -$0.27 per share. Quarterly revenue totaled $1.03 billion, 5% ahead of expectations and showing growth of 5% year-over-year.
Twilio’s revenue growth has been remarkable, as we can see below. Please note that this chart is on an annual basis. Concerning its current year (FY23), the Zacks Consensus Estimate of $4.04 billion suggests a 5% climb from FY22.
Image Source: Zacks Investment Research
In addition, Active Customer Accounts totaled 306,000, reflecting growth of 9.3% from the year-ago figure of 280,000. Active Customer Accounts growth bodes highly favorably for the company, reflecting that consumers continue flocking to its platform and, in turn, boosting top line performance.
Given the solid quarterly results, Twilio upped its FY23 guidance for adjusted income from operations, now expecting results in a band of $475 – $485 million. It’s worth noting that this metric has already been revised higher twice throughout 2023, once in May and once in August.
Investors will have to fork up a small premium for the company’s shares, currently trading at a 2.5X forward price-to-sales ratio (F1), above the respective Zacks Internet – Software industry modestly. Still, on a historical basis, the current value is nowhere near the steep 13.5X five-year median and five-year highs of 36.5X.
Image Source: Zacks Investment Research
Wix.com
Wix.com is the leading SaaS website builder platform globally. The company reported Q3 revenue of $393.8 million, up 14% from the year-ago period and ahead of the Zacks Consensus Estimate.
Better than expected revenue generation and improved operational efficiencies boosted free cash flow to $62.8 million. Further, Partners revenue totaled $119.4 million, climbing an impressive 40% from the year-ago period as consumers continue to flock to the company’s platform.
And given the results, Wix.com boosted its FY23 outlook, now expecting full-year revenue in a band of $1.558 - $1.563 billion, up from prior views of $1.543 - $1.556 billion.
It’s worth noting that WIX shares have primarily faced negative reactions following quarterly results, as we can see below. Despite a full-year guidance lift, shares have faced adverse price action in today’s session as well.
Image Source: Zacks Investment Research
Bottom Line
Earnings season continues its rapid pace, with a plethora of companies unveiling quarterly results daily.
So far, the period has primarily been positive, especially when including recent results from Wix.com (WIX - Free Report) , Ferrari (RACE - Free Report) , and Twilio (TWLO - Free Report) . All three raised their outlooks following better-than-expected results.