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

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

*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

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(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.)