Ferrari NV has updated its financial projections for 2026 following slightly better-than-expected performance in the third quarter. On Tuesday, the luxury sports car manufacturer reported earnings per share of 2.44 euros ($2.77), surpassing forecasts of 2.37 euros, and revenue of 1.9 billion euros, exceeding the anticipated 1.89 billion euros.
The company has adjusted its revenue guidance to 7.65 billion euros from 7.6 billion euros, while also raising its expectations for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to 3 billion euros, an increase from 2.97 billion euros. Adjusted earnings per share are now projected to be at least 9.85 euros, up from previous estimates of 9.68 euros. Additionally, Ferrari has revised its expectations for industrial free cash flow to a maximum of 1.65 billion euros, up from a prior minimum of 1.55 billion euros.
This marks the second consecutive quarter in which Ferrari has elevated its 2026 guidance, despite a reduction in vehicle shipments of 318 units in the first nine months of the year, totaling 10,170 vehicles. The decline is attributed to reduced shipments to markets including the Americas and parts of Asia.
CEO Benedetto Vigna noted that the upgrades in guidance stem from stronger customer personalization efforts, lesser-than-expected currency impacts, and a second place finish in the recent Formula 1 championship. He highlighted a robust order book extending into 2028 and anticipated further product launches within the year.
Initially, Ferrari’s U.S. shares experienced a decline post-announcement but subsequently gained traction, rising approximately 4% during midday trading.
Why this story matters
- The raised guidance indicates strong resilience and strategic growth amid fluctuating market conditions.
Key takeaway
- Ferrari continues to adapt successfully to market challenges, improving earnings and revenue outlooks even with decreased vehicle shipments.
Opposing viewpoint
- Some analysts expressed disappointment over the magnitude of the guidance increase, suggesting that expectations for even stronger performance may not have been met.
