Ferrari increased its full-year 2026 financial guidance across multiple metrics following third-quarter results that exceeded analyst consensus. The luxury automaker raised its revenue forecast to 7.65 billion euros from 7.6 billion euros, while adjusting its EBITDA projection to 3 billion euros, up from 2.97 billion euros. The company also lifted its adjusted earnings per share guidance to at least 9.85 euros from at least 9.68 euros.
Additionally, Ferrari upgraded its industrial free cash flow expectations to up to 1.65 billion euros, compared with prior guidance of at least 1.55 billion euros. The improvements marked the second consecutive quarter in which the automaker raised its full-year outlook, a development that occurred despite vehicle shipments declining by 318 units through the first nine months of the year. Ferrari delivered 10,170 vehicles during this period compared with the prior-year figure, with the reduction driven primarily by fewer shipments to the Americas and the China, Hong Kong and Taiwan regions.
Management attributed the guidance enhancements to multiple factors, including customer personalization demand that surpassed expectations, currency headwinds that proved less severe than anticipated, and the company’s second-place finish in the Formula 1 championship. Chief Executive Benedetto Vigna noted that the company’s order book extends into 2028 and highlighted two additional vehicle launches scheduled for the remainder of the year, alongside ongoing brand-building events.
Market analysts characterized the results as solid but measured in their praise. RBC Capital Markets noted that performance aligned with Wall Street consensus, though some investors may have anticipated a more substantial guidance increase. Following initial declines, Ferrari’s U.S. shares turned positive during midday trading, gaining approximately 4%.
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