Ferrari raises 2026 guidance after Q3 earnings beat — SkimNews
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- Ferrari slightly beat Wall Street's third-quarter expectations, posting adjusted EPS of 2.44 euros ($2.77) versus 2.37 euros expected and revenue of 1.9 billion euros against 1.89 billion euros expected, according to LSEG averages.
- Ferrari raised its 2026 guidance to revenue of 7.65 billion euros from 7.6 billion, adjusted EBITDA of 3 billion euros from 2.97 billion, and adjusted EPS of at least 9.85 euros from at least 9.68 euros.
- Ferrari upgraded its industrial free cash flow expectation to up to 1.65 billion euros from previous guidance of at least 1.55 billion euros.
- Ferrari lifted 2026 guidance for a second consecutive quarter even as vehicle shipments fell 318 units in the first nine months to 10,170 vehicles versus last year, with the decline led by fewer shipments to the Americas and China, Hong Kong and Taiwan.
- Ferrari credited stronger-than-expected customer personalizations, lower-than-anticipated currency headwinds and a second-place finish in the Formula 1 championship for the guidance improvements.
- Benedetto Vigna said Ferrari's order book now reaches into 2028, with two more launches to come this year and continued client events spanning Racing, Sports Cars and Lifestyle.
- Ferrari's U.S. shares initially fell on the results before turning positive, up roughly 2% in premarket trading, while RBC Capital Markets analyst Tom Narayan said the results were largely in line with Wall Street expectations and that investors hoping for a bigger raise could keep shares under slight pressure.
Why it matters: Ferrari's guidance raise came from mix, not volume: shipments fell 318 units to 10,170 vehicles, yet 2026 revenue targets rose to 7.65 billion euros on richer personalizations, milder currency drag and a second-place Formula 1 finish. RBC's Tom Narayan said investors hoping for a bigger raise could keep shares under slight pressure.
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