Ferrari reported earnings per share of 2.44 euros ($2.77), surpassing the expected 2.37 euros, and revenue of 1.9 billion euros, slightly above the anticipated 1.89 billion euros. The company has increased its 2026 revenue guidance to 7.65 billion euros from 7.6 billion euros, adjusted EBITDA to 3 billion euros from 2.97 billion euros, and adjusted EPS to at least 9.85 euros, up from 9.68 euros.
Additionally, Ferrari raised its industrial free cash flow forecast to up to 1.65 billion euros, up from at least 1.55 billion euros. This marks the second consecutive quarter of guidance increases, despite a decrease in vehicle shipments by 318 units year-to-date, totaling 10,170 vehicles, primarily due to lower sales in the Americas and Asia.
CEO Benedetto Vigna attributed the improved guidance to stronger customer personalization demand, reduced currency headwinds, and a successful Formula 1 season. Analyst Tom Narayan from RBC Capital Markets noted that while the results aligned with expectations, some investors anticipated a more substantial guidance increase, which initially pressured shares.
However, Ferrari's stock rebounded, showing a 2% increase in premarket trading following the announcement