Ferrari raises 2026 guidance after Q3 earnings beat

Summary

• Ferrari raised its 2026 guidance after slightly beating Wall Street's third-quarter expectations.
• Third-quarter earnings per share reached 2.44 euros ($2.77) adjusted versus 2.37 euros expected.
• Third-quarter revenue totaled 1.9 billion euros versus 1.89 billion euros expected.
• Updated 2026 revenue guidance increased to 7.65 billion euros from 7.6 billion euros.
• Updated 2026 adjusted earnings before interest, taxes, depreciation & amortization rose to 3 billion euros from 2.97 billion euros.
• Updated 2026 adjusted earnings per share guidance increased to at least 9.85 euros from at least 9.68 euros.
• Industrial free cash flow expectations for 2026 upgraded to up to 1.65 billion euros from at least 1.55 billion euros.
• Vehicle shipments fell by 318 units through the first nine months of the year to 10,170 vehicles compared to last year.
• The shipment decline was driven by fewer deliveries to the Americas & China, Hong Kong & Taiwan.
• Guidance improvements resulted from stronger-than-expected customer personalizations, lower currency headwinds, & a second-place finish in the Formula 1 championship.
• The order book now extends into 2028 with two more product launches scheduled for this year.
• Ferrari shares initially declined before closing at $414.77, up 2.9%.