Ferrari Q1 2026 earnings beat, reaffirms full-year guidance

Ahead of its archetypal all-electric conveyance reveal, Ferrari connected Tuesday posted quarterly results that exceeded expert expectations and near its yearly targets unchanged.

Revenue for the 4th reached €1.85 billion, up 3% from a twelvemonth earlier. Diluted net per stock came successful astatine €2.33, up from €2.30 successful the aforesaid play past year. Analysts had expected EPS of €2.27 and gross of €1.81 billion, according to CNBC.

EBITDA roseate 4% twelvemonth implicit twelvemonth to €722 million, with a borderline of 39.1%, up from 38.7% successful the prior-year period. Operating nett came successful astatine €548 million, a 1% increase, though the operating borderline slipped 60 ground points to 29.7%. Net nett was level astatine €413 million.

Unit measurement came successful astatine 3,436, compared with 3,593 a twelvemonth agone — a driblet the institution attributed to a deliberate pullback tied to an ongoing exemplary transition. Middle East tensions did not trim full shipments, Ferrari said, due to the fact that the institution shifted allocations and accelerated deliveries into alternate markets.

Revenue maturation was driven by a richer merchandise mix, higher personalization demand, beardown income successful the Americas, and contributions from the F80 and Special Series models, the institution said. Those gains were partially offset by higher depreciation, little deliveries, reduced income of the 499P Modificata, accrued selling expenses, and U.S. import tariffs.

Ferrari reaffirmed its 2026 outlook, aiming for astir €7.50 cardinal successful nett revenue, astatine slightest €2.93 cardinal successful adjusted EBITDA, astatine slightest €2.22 cardinal successful adjusted operating profit, astatine slightest €9.45 successful adjusted diluted EPS, and astatine slightest €1.50 cardinal successful concern escaped currency flow.

"Our enriched premix and continued request for personalizations contributed to the beardown net we are presenting today. With these results and an bid publication further extending towards the extremity of 2027, we corroborate our 2026 guidance," CEO Benedetto Vigna said successful a statement.

The results get arsenic the institution prepares to debut the Luce, its archetypal afloat electrical vehicle, connected May 25. Asked astir request for the Luce, Vigna offered nary bid information but told reporters the motorboat lawsuit had exceeded capableness — describing it arsenic "fully booked, really overbooked," according to CNBC. He added that Ferrari expects the car to pull some existing and caller customers.

Ferrari's tariff vulnerability has weighed connected results alongside the broader industry. U.S. tariffs person outgo automakers astatine slightest $35.4 cardinal since 2025, with European vehicles taxable to a 15% import duty. Ferrari acknowledged the tariff interaction arsenic a partial resistance connected operating nett successful the quarter.

Ferrari banal was astir level pursuing the results.