Workers on the production line at the new Ferrari NV E‑building factory in Maranello, Italy, on Friday, June 21, 2024.
Francesca Volpi | Bloomberg | Getty Images
Ferrari on Tuesday raised its 2026 guidance after the sports car maker modestly beat Wall Street’s third‑quarter expectations.
Ferrari’s third‑quarter results versus LSEG consensus estimates were as follows:
- Earnings per share: 2.44 euros ($2.77) adjusted vs. 2.37 euros expected
- Revenue: 1.9 billion euros vs. 1.89 billion euros expected
Ferrari lifted its 2026 guidance to revenue of 7.65 billion euros, up from 7.6 billion euros; adjusted EBITDA to 3 billion euros, up from 2.97 billion euros; and adjusted EPS to at least 9.85 euros, up from at least 9.68 euros.
The automaker also upgraded its industrial free‑cash‑flow target to up to 1.65 billion euros, from a prior expectation of at least 1.55 billion euros.
For the second straight quarter, Ferrari has increased its 2026 outlook, despite deliveries falling by 318 units in the first nine months, totaling 10,170 vehicles versus the prior year. The decline is led by reduced shipments to the Americas and to China, Hong Kong and Taiwan.
Ferrari said Tuesday that the guidance improvements stemmed from stronger‑than‑expected customer personalizations, milder currency headwinds than anticipated, and a second‑place finish in the Formula 1 championship.
“Our order book now reaches into 2028, and we still have two more launches to come this year. In addition, we continue to create engaging events around the world to further tighten the bonds with our clients and partners across Racing, Sports Cars and Lifestyle,” Ferrari CEO Benedetto Vigna said in a release.
RBC Capital Markets analyst Tom Narayan said Tuesday that Ferrari’s results largely matched Wall Street expectations. However, he noted that shares may be under “slight pressure given some were hoping for a bigger guidance raise, but expect it to get better once folks realize these results are healthy.”
Ferrari’s U.S. shares initially slipped on the results before turning positive and were up roughly 2 % in premarket trading.
