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Ferrari's Q3 revenue slightly beats estimates, FY revenue, profit outlooks raised

By Reuters News


Overview

  • Italy luxury sports car maker's preliminary Q3 revenue rose 7%, slightly beating analyst expectations

  • Diluted EPS rose 14% yr/yr, with net profit up 13%

  • Company repurchased €61.5 mln in shares during October under ongoing buyback program


Outlook

  • Ferrari raises 2026 net revenue guidance to ~€7.65 bln from ~€7.60 bln

  • Company now sees 2026 adj EBITDA of at least €3.00 bln, up from at least €2.97 bln

  • Ferrari expects 2026 adj diluted EPS of at least €9.85, up from at least €9.68


Result Drivers

  • PRODUCT MIX AND PERSONALIZATIONS - Co said higher revenues and EBIT were driven by a richer sports cars mix and increased contribution from personalizations, especially the F80 and 296 Speciale family

  • RACING AND LIFESTYLE REVENUES - Co said higher sponsorships and lifestyle activities contributed to increased revenues, partly offset by lower Formula 1 commercial revenues

  • ENGINE RENTALS - Co said other revenues grew, mostly reflecting rental of engines to other Formula 1 racing teams


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Beat*

EUR 1.90 bln

EUR 1.89 bln (7 Analysts)

Q3 Free Cash Flow

EUR 567 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the auto & truck manufacturers peer group is "buy"

  • Wall Street's median 12-month price target for Ferrari N.V. is €397.50, about 10.7% above its November 2 closing price of €358.95

  • The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 33 three months ago


Reuters Recommended Reads

  • Nov 2 - Italy new car registrations up 4.8% year-on-year in October

  • Nov 3 - Germany's Schaeffler 9-month sales flat on China hit, EBIT margin rises

  • Nov 3 - Schaeffler to cut 3,460 jobs, shut five European plants as auto slump bites


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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