Ferrari raises 2026 guidance after Q2 earnings beat estimates

Ferrari reported Q2 revenue of €1.94 billion, up 8%, and raised its 2026 guidance on stronger personalization demand.

"A sustained trend in personalizations allows us to raise the guidance for the year," CEO Benedetto Vigna said.

Operating profit rose 10% to €605 million, a 31.2% margin, while net profit climbed 9% to €463 million. EBITDA reached €755 million at a 39.0% margin, and industrial free cash flow jumped 39% to €276 million. Revenue from cars and spare parts rose 8% to €1.63 billion, helped by a richer sports car mix and higher personalizations, while sponsorship, commercial and brand revenue gained 2% to €209 million. Foreign exchange, mainly the U.S. dollar and Japanese yen, weighed on results.

Shipments fell 128 units to 3,366 as the 296 GTS, Roma Spider and SF90 XX family were phased out, offset by gains for the 12Cilindri, Purosangue and 296 Speciale. The Amalfi and 849 Testarossa continued their ramp-up, and the F80 shipped in line with plans. Racing revenue rose on higher sponsorships and engine rentals to other Formula 1 teams, with podiums for both Scuderia Ferrari and the 499P Hypercar.

Ferrari now targets 2026 net revenues of about €7.6 billion, up from €7.5 billion, with adjusted EBITDA of at least €2.97 billion, adjusted diluted EPS of at least €9.68 and industrial free cash flow of at least €1.55 billion. The revision reflects stronger personalization revenue and lighter currency pressure than initially assumed, net of hedges. Net industrial debt stood at €131 million after more than €800 million of shareholder remuneration, including a €599 million dividend and €209 million of buybacks.

Shares rose about 2% in premarket trading. The guidance raise points to sustained demand for customization across the luxury segment, where Ferrari competes with McLaren and Porsche. Investors will watch the earnings call on July 30 for segment detail and any read on the Ferrari Luce, the brand's first electric model, which launched this year.

This article is for informational purposes only and does not constitute investment advice.