Ferrari announced upward revisions to its 2026 financial outlook on Tuesday following stronger-than-expected third-quarter performance. The sports car manufacturer lifted its revenue guidance to 7.65 billion euros from 7.6 billion euros, while raising adjusted earnings before interest, taxes, depreciation and amortization to 3 billion euros from 2.97 billion euros. The company also increased its adjusted earnings per share forecast to at least 9.85 euros, up from at least 9.68 euros.
The automaker additionally upgraded its industrial free cash flow expectations to as much as 1.65 billion euros, compared with previous guidance of at least 1.55 billion euros. This marks the second consecutive quarter in which Ferrari has raised its 2026 outlook, a development that comes despite overall vehicle shipments declining by 318 units in the first nine months of the year to 10,170 total vehicles compared with the prior-year period. Regional weakness in the Americas and in China, Hong Kong and Taiwan drove the shipment decline.
Ferrari attributed the guidance improvements to several factors, including higher-than-anticipated customer personalization demand, currency effects that proved less challenging than expected, and the company’s second-place finish in the Formula 1 championship. Chief Executive Officer Benedetto Vigna highlighted the strength of the company’s order book, which now extends into 2028, and noted that two additional vehicle launches remain scheduled for later in the year. The company said it continues hosting global events designed to strengthen relationships with clients and partners across its racing, sports cars, and lifestyle segments.
Analysts at RBC Capital Markets characterized the results as largely meeting market expectations, though some investors had anticipated a more substantial guidance raise. The stock initially declined following the announcement before recovering to close the session up 2.9% at $414.77 per share.
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