With its second-quarter 2019 release, Ferrari (RACE -0.39%) delivered another strong quarter of financial results. The company met quarterly expectations and confirmed its financial guidance for the year.

However, the strong results were overshadowed by the discussion of Ferrari's two new models, including the company's first hybrid car.

A look at Ferrari's Q2 2019 numbers

Ferrari reported an increase in car shipments and revenue, driven by continued strong demand for its Portofino and 812 Superfast models. The Portofino, introduced last year, has a V-8 engine and has been praised by Ferrari buyers and critics alike. Revenue was also bolstered by an increase of 2 million euros in brand sponsorship activities -- primarily from professional racing.

Metric Q2 2019 Q2 2018 Change
Shipments 2,671 2,463 8%
Net revenue 984 million euros 906 million euros 9%
Adjusted EBITDA 314 million euros 290 million euros 9%
Adjusted diluted earnings per share 0.96 euro 0.84 euro 14%

EBITDA = earnings before interest, taxes, depreciation, and amortization. Data source: Ferrari.

Ferrari's bottom line also came in strong. The luxury carmaker showed that EBITDA margin expanded by 0.10% in the quarter compared to the prior year. Diluted earnings per share grew by a respectable 14%, on the back of 150 million euros in share repurchases completed so far this year. Ferrari also rewarded shareholders by increasing its dividend by 45%.

Looking ahead, the company reiterated its financial guidance for 2019: Investors can continue to expect revenue north of 3.5 billion euros, and earnings per share in the range of 3.50 to 3.70 euros. Ferrari delivered the goods when it came to financial figures, but the company also teased investors with exciting product updates.

Ferrari's new car models

A hallmark of Ferrari's product strategy is to gradually release one or two new models each year. Earlier this year, the company unveiled two models: the F8 Tributo and the SF90 Stradale.

a red Ferrari car sitting on a flat surface

Ferrari's 2020 F8 Tributo model. Image source: Ferrari.

The 2020 F8 Tributo (pictured above) is a V-8 turbo-engine car which replaces the company's 488GTB model. As its name implies, the car was created in tribute to classic Ferrari design elements; it features four round taillights and a louvered rear window, similar to iconic Ferrari cars of the past. On Ferrari's Q2 earnings call, the company indicated that orders for the F8 Tributo have initially exceeded expectations, and are ahead of orders for prior models at a similar stage in their release.

a red Ferrari car on a race track

Ferrari's 2020 SF90 Stradale model. Image source: Ferrari.

The other new car coming to market is the 2020 SF90 Stradale (pictured above), Ferrari's first hybrid car. The SF90 Stradale runs on a V-8 turbo engine and three electric motors that can cumulatively produce 986 horsepower. In a sense, the SF90 Stradale is Ferrari's response to the market that Tesla has created for electric luxury sports cars. Despite being a plug-in hybrid, the SF90 has an eight-speed transmission, and can go from zero to 60 miles per hour in just over two seconds. Ferrari's management has also noted that demand for the SF90 Stradale has been robust and its order book is filling up quickly.

Ferrari continues to tease investors and customers; it plans to unveil two more new car models at a two-week event in Italy in September. It expects thousands of customers to attend the event, and will also host a capital markets day for investors.

Looking ahead

Ferrari continues to execute its strategy of delivering steady earnings growth by unveiling a couple of new car models each year. Each model launch has been successful, and continues to build off the momentum of prior launches and the Ferrari brand.

This strategy and steady financial performance have been rewarded in the stock market by investors eager to own shares in an iconic car brand. Investors have no reason to doubt that Ferrari will continue to delight its customers, and deliver strong financial results.