Prime Highlights :
- Ferrari beat first-quarter earnings and revenue estimates while maintaining full-year guidance.
- The company will unveil its first all-electric vehicle, the Luce, later this month.
Key Facts :
- Ferrari is a leading Italian luxury sports car manufacturer known for high-performance vehicles.
- First-quarter deliveries declined 4.4% to 3,436 units due to planned production changes.
Background :
Ferrari beat Wall Street expectations for the first quarter and reaffirmed its full-year outlook, as investors turned attention to the upcoming launch of the luxury carmaker’s first fully electric vehicle later this month.
The Italian sports car maker reported adjusted earnings per share of 2.33 euros, above estimates of 2.27 euros. Revenue came in at 1.85 billion euros, higher than the expected 1.81 billion euros. Revenue rose more than 3% from the same period last year, while operating profit increased 1.1% and adjusted earnings climbed 4.2%.
Ferrari maintained its 2026 guidance and said it expects net revenue of 7.5 billion euros for the year. The company also projected adjusted operating profit of at least 2.22 billion euros and adjusted earnings per share of 9.45 euros. It targets industrial free cash flow of 1.5 billion euros or more.
Vehicle deliveries fell 4.4% year-on-year to 3,436 units during the quarter. Ferrari said the decline came after it slowed production to support its planned model transition. The company added that rising tensions in the Middle East did not affect deliveries because it adjusted shipments across regions.
The results came ahead of the scheduled debut of the Ferrari Luce, the company’s first all-electric vehicle, in the fourth week of May. Chief Executive Benedetto Vigna said anticipation for the launch was very high and described the model as a combination of advanced technology and Ferrari’s traditional passion for performance.
Vigna said the launch event was fully booked and even oversubscribed. He added that Ferrari expects the Luce to attract both existing customers and new buyers. Analysts reacted positively to the earnings beat and the unchanged outlook, while Ferrari shares traded nearly flat after the update.