Ferrari raises 2026 targets after strong Q3

Ferrari adjusted earnings per share for the third quarter came in at 2.44 euros. This figure beat the average analyst estimate of 2.37 euros. The company reported these results on Tuesday and immediately raised its financial targets for the rest of 2026.

Revenue for the quarter reached 1.9 billion euros. Analysts had projected 1.89 billion euros for the period. Ferrari now expects full-year revenue to hit 7.65 billion euros. That target is up from the previous projection of 7.6 billion euros.

The company also increased its estimate for adjusted earnings before interest, taxes, depreciation, and amortization. The new target is 3 billion euros. The earlier forecast stood at 2.97 billion euros. Adjusted earnings per share for the year are now set at a minimum of 9.85 euros, up from 9.68 euros.

Industrial free cash flow expectations rose to 1.65 billion euros. The previous floor for this metric was 1.55 billion euros. These updates mark the second straight quarter in which Ferrari has increased its annual projections.

Vehicle shipments declined in the first nine months of the year. The company delivered 10,170 units, which is 318 fewer than in the same period last year. Sales in the Americas and in China, Hong Kong, and Taiwan drove the reduction in volume.

Ferrari cites stronger customer personalization orders as a key reason for the improved outlook. Currency headwinds were also less severe than the company initially anticipated. The automaker credits its second place finish in the Formula 1 championship for boosting brand demand.

Benedetto Vigna, the company's chief executive, noted that the order book now extends into 2028. He said two more vehicle launches are scheduled for the remainder of the year. Vigna emphasized the firm's focus on client engagement across racing, sports cars, and lifestyle sectors.

Tom Narayan, an analyst at RBC Capital Markets, described the results as largely in line with Wall Street forecasts. He warned that shares might face slight pressure because some investors hoped for a larger increase in guidance. Narayan expects sentiment to improve as investors recognize the health of the underlying results.

Ferrari shares in the United States dipped briefly after the announcement. By midday trading on Tuesday, the stock had recovered to gain roughly 4 percent.