Ferrari raises 2026 guidance after Q3 earnings beat

Key points

• Ferrari raised its 2026 guidance for the second quarter in a row after beating Wall Street's third-quarter estimates.
• Shipments fell by 318 units to 10,170 vehicles in the first nine months of the year.
• Ferrari's U.S. stock closed Tuesday at $414.77 a share, up 2.9%.

Ferrari raised its 2026 guidance on Tuesday after the sports car maker slightly beat Wall Street's third-quarter expectations, CNBC reported. The company lifted its revenue target to 7.65 billion euros from 7.6 billion euros.

It also raised its adjusted EBITDA guidance to 3 billion euros from 2.97 billion euros, and its adjusted EPS target to at least 9.85 euros from at least 9.68 euros. Industrial free cash flow expectations rose to up to 1.65 billion euros from at least 1.55 billion euros.

Shipments decline through nine months

This is the second consecutive quarter Ferrari has raised its 2026 guidance, even though vehicle shipments were lower by 318 units through the first nine months of the year, at 10,170 vehicles compared with last year. The decline was led by fewer shipments to the Americas and China, Hong Kong and Taiwan.

Ferrari attributed the guidance improvements to stronger-than-expected customer personalizations, lower than anticipated currency headwinds and a second place finish in the Formula 1 championship.

Our order book now reaches into 2028, and we still have two more launches to come this year.

— Ferrari CEO Benedetto Vigna

Order book and analyst reaction

CEO Benedetto Vigna said the order book now reaches into 2028, with two more launches to come this year. RBC Capital Markets analyst Tom Narayan said the results were largely in line with Wall Street expectations, adding that shares may be "under slight pressure given some were hoping for a bigger guidance raise."

Ferrari's U.S. stock initially declined on the results before turning positive to close Tuesday at $414.77 a share, up 2.9%.