Ferrari has reported impressive first-quarter earnings, surpassing Wall Street expectations just weeks before the highly anticipated launch of its first fully electric vehicle, the Luce. The company’s performance reveals a strong financial trajectory, highlighted by earnings per share of €2.33 (approximately $2.72) adjusted, exceeding the expected €2.27. Revenue also saw an increase, reaching €1.85 billion, beating the forecast of €1.81 billion.
Compared to the same quarter last year, Ferrari’s revenue rose by over 3% from €1.79 billion. The company’s operating profit and adjusted earnings increased by 1.1% and 4.2%, respectively, reinforcing its financial health. Looking ahead, Ferrari has reconfirmed its guidance for 2026 with expectations of achieving net revenues of €7.5 billion and an adjusted operating profit of at least €2.22 billion, reflecting an adjusted earnings per share of €9.45. The luxury sports car manufacturer also aims for an industrial free cash flow of €1.5 billion or more for the year.
Despite the positive financial outcomes, Ferrari reported a 4.4% decline in deliveries year-over-year, totaling 3,436 units. The company explained this reduction by saying it had intentionally slowed production to facilitate a planned model change-over. Notably, Ferrari indicated that its deliveries were not adversely affected by the ongoing increase in hostilities in the Middle East. Instead, the company adeptly managed its geographic allocation of production, advancing certain deliveries to different regions to maintain stability.
The excitement surrounding the brand is heightened as it approaches the scheduled unveiling of the Luce on May 25. CEO Benedetto Vigna expressed that the anticipation for the electric vehicle has reached unprecedented levels, emphasizing the innovative technologies and the collective effort that went into its development. He proclaimed the Luce as a testament to the harmony between tradition and innovation, promising a unique addition to Ferrari’s esteemed lineup.
