Ferrari stock lifts 2026 outlook after Q3 margin gains
Published on 11/04/2026 at 11:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFerrari raises outlook after strong quarter
- Ferrari increased third-quarter revenue by 7 percent as richer vehicle mix and personalizations supported growth.
- EBITDA and net profit advanced by 12 percent, while industrial free cash flow rose sharply.
- Management said its order book extends into 2028 and cited two further launches planned for 2026.
Ferrari raised its 2026 outlook after reporting stronger third-quarter profitability on Tuesday, November 3, 2026. The company said higher-value models, stronger customer personalizations and a favorable product mix offset lower deliveries during a planned model changeover.
According to Ferrari, third-quarter net revenue reached 1,896 million euros, up 7 percent from the prior-year period and 10 percent at constant currency. Revenue from cars and spare parts rose 7 percent to 1,586 million euros, supported by a richer sports-car mix and increased personalizations.
Mix and personalization drive margins
Operating profit increased 12 percent to 563 million euros, producing an operating margin of 29.7 percent. EBITDA also rose 12 percent to 753 million euros, while the EBITDA margin reached 39.7 percent. Ferrari attributed the improvement mainly to product mix, including the F80, and higher personalization revenue. Higher depreciation and amortization tied to new-model production and increased marketing expenses partly offset those gains.
Net profit increased to 431 million euros from 381 million euros a year earlier. Diluted earnings per share rose to 2.44 euros from 2.14 euros. Industrial free cash flow reached 567 million euros, supported by profitability and working capital.
Ferrari delivered 3,368 vehicles in the quarter as it continued to change over its model range. The company said deliveries of the Amalfi, 296 Speciale, 12Cilindri Spider and Purosangue increased, while the 849 Testarossa and 296 Speciale Aperta entered ramp-up phases. Shipments of the F80 progressed according to plan.
Higher targets, extended order book
Ferrari raised its 2026 revenue target to approximately 7.65 billion euros from approximately 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. The company also lifted its adjusted EBIT target to at least 2.285 billion euros and adjusted diluted earnings per share target to at least 9.85 euros. Industrial free cash flow is expected to reach up to 1.65 billion euros.
Management cited stronger-than-expected personalizations, lower currency headwinds after hedging and Ferrari's second-place Formula 1 standing as the main assumptions behind the upgrade. Chief Executive Benedetto Vigna said the order book reaches into 2028 and that two further launches were still planned for 2026.
The real-time quote of Ferrari stock was 369.08 euros on Lang & Schwarz at 11:46 CET on Wednesday, November 4, 2026.
Ferrari company facts
- Company: Ferrari N.V.
- ISIN: NL0011585146
- Ticker: RACE
- Listing: Euronext Milan
- Lang & Schwarz quote: 369.08 euros, November 4, 2026, 11:46 CET
European investors continue to track broader conditions through current market reports.
More news and analyses on Ferrari stock will follow developments in demand, model launches and Ferrari's upgraded 2026 targets.
