Overview
- Ferrari, which reported Tuesday, beat forecasts with revenue of €1.85 billion, diluted EPS of €2.33, and a 39.1% adjusted EBITDA margin.
- Management reaffirmed 2026 targets of about €7.5 billion in revenue, €2.93 billion in adjusted EBITDA, and €9.45 in adjusted EPS, supported by an order book stretching into late 2027.
- Shipments slipped to 3,436 vehicles as Ferrari eased production for a planned model change-over, while higher-margin models such as 12Cilindri, Purosangue, and SF90 XX lifted results as 296 and Roma Spider tapered with their lifecycles.
- Ferrari said the war in the Middle East did not reduce total deliveries because it redirected cars to other regions, though regional data show EMEA deliveries fell year over year.
- Shares ticked lower in pre-market trading as investors weighed renewed U.S. tariff threats on EU exports and the risk that pulling some deliveries forward could slow later quarters, with the Luce EV set to debut May 25 in Rome.