Ferrari raises its 2026 outlook again after a strong third quarter
Ferrari’s higher forecast follows a 7% revenue gain and a 12% jump in operating profit, despite shipping 33 fewer cars.
On the Dash:
- Ferrari raised its 2026 guidance again, citing stronger personalizations and lower currency headwinds.
- Operating profit rose 12% to 563 million euros while quarterly shipments slipped by 33 cars.
- The company’s order book now reaches into 2028 despite lower shipments in the Americas and China.
Ferrari raised its 2026 financial forecast after a strong third quarter, earning more despite delivering slightly fewer cars. The Italian automaker reported revenue of 1.896 billion euros, up 7% from a year earlier. Profit per share climbed to 2.44 euros from 2.14 euros, according to the company’s Nov. 3 press release.
Ferrari now expects 2026 revenue of about 7.65 billion euros, up from its previous forecast of about 7.6 billion euros. It also raised its profit-per-share outlook to at least 9.85 euros, from at least 9.68 euros, and increased its cash target. The company now expects up to 1.65 billion euros in free cash flow from industrial operations, compared with its previous forecast of at least 1.55 billion euros.
What’s driving higher earnings
Three factors drove the higher outlook. Customers spent more than expected on personalizing their cars. Currency swings hurt less than Ferrari had expected. The company also finished second in the Formula 1 championship.
Ferrari said the forecast still reflects what it can see right now regarding the Middle East crisis. The company also expects higher racing and lifestyle revenue this year. Ferrari raised its forecast in July after the second quarter, as CBT News reported.
Fewer cars shipped, but more profit on each one
Ferrari shipped 3,368 cars in the quarter, 33 fewer than last year. Through nine months, it has shipped 10,170 cars, down 318. Shipments fell by 193 cars in the Americas and by 176 in mainland China, Hong Kong and Taiwan. They rose in Europe, the Middle East and Africa, and in the rest of Asia-Pacific.
Even so, operating profit climbed 12% to 563 million euros, while net profit increased 13% to 431 million euros. Ferrari attributed the gains to a richer model mix, led by its F80 supercar, and greater demand for custom options. Deliveries also rose for several models, including the Amalfi, 296 Speciale, 12Cilindri Spider and Purosangue.
Order book reaches into 2028
Ferrari’s order book now extends into 2028, and two additional new models are set to arrive this year, CEO Benedetto Vigna said in the release. He credited F80 deliveries and custom orders with driving the company’s strong financial growth.
Ferrari also generated 567 million euros in free cash flow from its industrial operations during the quarter, a 43% increase from a year earlier. At the end of September, those operations held 219 million euros more cash than debt.