Ferrari stock outlook rises after stronger Q3 profitability

Published on 11/12/2026 at 12:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ferrari stock follows stronger third-quarter profitability after the company raised its 2026 targets again. Personalizations and model mix drove the gains.

Ferrari raises 2026 targets

Third-quarter revenue increased 7 percent to 1.896 billion euros, while EBITDA rose 12 percent to 753 million euros.
Ferrari lifted its 2026 revenue target to 7.65 billion euros and its adjusted EBITDA floor to 3 billion euros.
Management said the order book extends into 2028, with two further launches planned before year-end.

Ferrari, NL0011585146, Illustration mit AI erstellt.

Ferrari announced stronger third-quarter results on Tuesday, November 3, 2026, and raised its full-year targets again. In its official results release, the Italian manufacturer said revenue growth and profitability benefited from a richer vehicle mix and stronger customer personalizations.

Ferrari stock traded at 373.33 euros on Lang & Schwarz at 12:08 CET on Thursday, November 12.

Richer mix lifts third-quarter margins

Net revenue reached 1.896 billion euros in the July-to-September period, up 7 percent from the prior-year quarter and 10 percent at constant currency. Cars and spare parts generated 1.586 billion euros, also an increase of 7 percent, as higher-value models and personalizations supported the business.

Operating profit rose 12 percent to 563 million euros, producing an operating margin of 29.7 percent. EBITDA increased 12 percent to 753 million euros, with the margin at 39.7 percent. Ferrari attributed the improvement mainly to product mix, particularly support from the F80, and the larger contribution from personalizations. Higher depreciation and marketing expenses partly offset those benefits as new models entered production.

Net profit climbed to 431 million euros from 202 million euros in the comparable quarter, while diluted earnings per share reached 2.44 euros versus 2.14 euros a year earlier. Industrial free cash flow amounted to 567 million euros, up from 396 million euros in the prior-year quarter.

Full-year outlook moves higher

Ferrari raised its 2026 net revenue target to 7.65 billion euros from 7.60 billion euros. The company also lifted its adjusted EBITDA target to at least 3 billion euros from at least 2.97 billion euros and its adjusted EBIT target to at least 2.285 billion euros from at least 2.26 billion euros.

The adjusted EBITDA margin target increased to at least 39.2 percent from 39.0 percent, while the adjusted EBIT margin target rose to at least 29.8 percent from 29.5 percent. Adjusted diluted earnings per share is now expected to reach at least 9.85 euros, compared with at least 9.68 euros previously. The industrial free cash flow target moved to up to 1.65 billion euros from at least 1.55 billion euros.

Ferrari said the revised assumptions include stronger-than-expected personalizations, lower currency headwinds after hedging and a second-place finish in the Formula 1 championship. The outlook also reflects the company's current assessment of the effects of the Middle East crisis.

Order book extends into 2028

Deliveries totaled 3,368 vehicles in the quarter as Ferrari continued a planned model changeover. The Amalfi, 296 Speciale, 12Cilindri Spider and Purosangue increased deliveries, while the 849 Testarossa and 296 Speciale Aperta continued their ramp-up. The 849 Testarossa Spider also began deliveries during the quarter.

Chief Executive Benedetto Vigna said the order book now reaches into 2028 and that two further launches remain scheduled for 2026. That visibility gives investors a forward indicator for demand, although earnings will still depend on model timing, mix, personalization levels and currency effects.