Ferrari stock raises 2026 outlook after Q3 margin gains
Published on 11/10/2026 at 12:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSMargins and outlook move higher
- Revenue and profit increased year on year in the third quarter.
- Personalizations and a richer vehicle mix supported profitability despite lower deliveries.
- Ferrari's order book reaches into 2028, while the Luce launch allocation is already complete for 2027.
Ferrari reported stronger third-quarter profitability on November 3, 2026, and raised its full-year targets. In its financial results release, the company said higher personalizations and a richer sports-car mix supported growth despite a planned model changeover.
Ferrari stock traded at 369.93 euros on Lang & Schwarz at 12:01 CET on Tuesday, November 10, 2026.
Strong mix supports earnings growth
Ferrari generated third-quarter net revenue of 1.896 billion euros, an increase of 7% from the prior-year period and 10% at constant currency. Revenue from cars and spare parts rose 7% to 1.586 billion euros, helped by product mix and higher customer personalizations. Sponsorship, commercial and brand revenue reached 220 million euros, up 4%.
Operating profit increased 12% to 563 million euros, producing an EBIT margin of 29.7%. EBITDA also rose 12% to 753 million euros, with the margin reaching 39.7%. Ferrari said the main benefits came from the product mix, including the F80, and from personalizations. Higher depreciation, amortization and marketing costs partly offset those gains.
Net profit rose 13% to 431 million euros, while diluted earnings per share increased to 2.44 euros from 2.14 euros a year earlier. Industrial free cash flow reached 567 million euros, up 43% year on year. Deliveries totaled 3,368 vehicles as Ferrari continued its model changeover, with newer models ramping up and several older families being phased out.
Higher targets reflect demand quality
Ferrari raised its 2026 net revenue guidance 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. The company lifted its adjusted EBIT target to at least 2.285 billion euros from at least 2.26 billion euros and its adjusted diluted earnings-per-share target to at least 9.85 euros from at least 9.68 euros.
Industrial free cash flow is forecast at up to 1.65 billion euros, against the previous minimum target of 1.55 billion euros. Ferrari attributed the upgrade to stronger-than-expected personalizations, lower currency headwinds after hedging and assumptions linked to its second-place Formula 1 championship finish.
Chief Executive Benedetto Vigna said the order book now extends into 2028 and that two further launches were still planned for 2026 when the results were released. Ferrari also said planned 2027 sales of the Luce, its first fully electric model, were already fully allocated, according to the company's release.
The figures reinforce Ferrari's strategy of prioritizing pricing, exclusivity and customer-specific features over unit growth. For investors, the higher targets improve earnings visibility, but the model changeover and foreign-exchange effects remain relevant variables for margins and cash generation.
The wider Italian market can be followed through the FTSE MIB market overview.
More news and analyses are available on Ferrari stock.
Ferrari company and market facts
- Company: Ferrari N.V.
- ISIN: NL0011585146
- Stock: Ferrari
- Market: Lang & Schwarz
- Price: 369.93 euros on November 10, 2026, at 12:01 CET
- Third-quarter revenue: 1.896 billion euros
- Third-quarter EBITDA: 753 million euros
- 2026 revenue guidance: 7.65 billion euros
