Ferrari stock raises 2026 outlook after stronger Q3 margins

Published on 11/11/2026 at 11:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ferrari stock remains focused on personalizations and richer models. Management said its order book extends into 2028.

Stronger margins lift Ferrari outlook

Ferrari increased third-quarter revenue, EBIT, EBITDA and industrial free cash flow despite lower vehicle deliveries.
Personalizations, the F80 and a richer product mix were the main earnings drivers.
Management said the order book extends into 2028 and two launches remain planned.

Ferrari, NL0011585146, Illustration mit AI erstellt.

Ferrari raised its full-year outlook on Tuesday, November 3, after stronger profitability in the third quarter. The company said its preliminary unaudited results for the period ended September 30 showed that a richer product mix and higher customer personalizations outweighed the effects of lower deliveries. The announcement is available from Ferrari.

Margins strengthen on richer mix

Third-quarter net revenue rose 7% year over year to 1,896 million euros, or 10% at constant currency. Revenue from cars and spare parts increased 7% to 1,586 million euros, supported by the product mix and personalizations. Sponsorship, commercial and brand revenue reached 220 million euros, up 4%.

Operating profit increased 12% to 563 million euros, producing a 29.7% margin. EBITDA also rose 12% to 753 million euros, with the margin reaching 39.7%. Net profit increased to 431 million euros from 381 million euros a year earlier, while diluted earnings per share rose to 2.44 euros from 2.14 euros. Industrial free cash flow climbed 43% to 567 million euros.

Ferrari delivered 3,368 vehicles in the quarter as it continued a planned model changeover. The company cited the F80 and stronger personalizations, led by the 296 Speciale family, as important contributors to profitability. Higher depreciation and amortization from new-model production and increased marketing spending partly offset the gains.

Higher targets set a new benchmark

Ferrari lifted its revenue target to 7.65 billion euros from 7.60 billion euros. Adjusted EBITDA is now expected to reach at least 3.00 billion euros, compared with at least 2.97 billion euros previously, while adjusted diluted earnings per share is expected to be at least 9.85 euros, up from at least 9.68 euros. The company also raised its industrial free cash flow target to up to 1.65 billion euros from at least 1.55 billion euros.

Management attributed the upgrade to stronger-than-expected personalizations, lower currency headwinds after hedging and Ferrari's second-place position in the Formula 1 championship. Chief Executive Benedetto Vigna said the order book extends into 2028 and that two further launches are planned during the year.

Ferrari stock traded at 375.85 euros on Lang & Schwarz at 11:47 CET on Wednesday, November 11, 2026. The quote gives investors a current market indication while the stock's next earnings catalyst is the company's execution of its model launches, personalization strategy and full-year targets.