Q1 25 EPS
$2.30
BEAT +2.39%
Est. $2.25
Q1 25 Revenue
$1.79B
BEAT +0.91%
Est. $1.77B
vs S&P Since Q1 25
-49.8%
TRAILING MARKET
RACE -17.1% vs S&P +32.7%
Market Reaction
Did RACE Beat Earnings? Q1 2025 Results
Ferrari kicked off 2025 in commanding fashion, posting first-quarter earnings per share of $2.30 against a consensus estimate of $2.25, a 2.39% beat, while revenue climbed 13.0% year over year to $1.79 billion, edging past the $1.77 billion Wall Stre… Read more Ferrari kicked off 2025 in commanding fashion, posting first-quarter earnings per share of $2.30 against a consensus estimate of $2.25, a 2.39% beat, while revenue climbed 13.0% year over year to $1.79 billion, edging past the $1.77 billion Wall Street had anticipated. The performance underscores the Maranello automaker's deliberate "quality over quantity" philosophy: shipments rose just 0.9% to 3,593 units, yet a richer product mix, expanded personalizations, and the ramp-up of high-margin models like the 12Cilindri and SF90 XX family drove an $85.00 million positive mix and price variance. EBIT surged 22.7% to $542.00 million, expanding margins to 30.3%, while industrial free cash flow nearly doubled to $620.00 million. The strong print reinforces the view among analysts that Ferrari remains one of the auto sector's clearest outperformers amid broader industry turbulence. Management confirmed full-year guidance for net revenues above $7.00 billion and adjusted diluted EPS of at least $8.60, though flagged a potential 50 basis point margin risk tied to U.S. Import tariffs on European vehicles.
Key Takeaways
- • Richer product and country mix driving revenue growth with minimal shipment increase
- • Increased personalizations contributing to strong mix/price variance of €85 million
- • SF90 XX family, 12Cilindri, and 499P Modificata deliveries enriching product mix
- • New sponsorships and improved Formula 1 commercial revenues boosting sponsorship/brand revenues by 32.1%
- • Positive Americas country mix
- • Initial collection of F80 advances supporting strong industrial free cash flow
RACE YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
RACE Revenue by Segment
With YoY comparisons, source: SEC Filings
RACE Revenue by Geography
With YoY comparisons, source: SEC Filings
“Another year is off to a great start. In the first quarter of 2025, with very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalizations. This confirms – once again – our strategy of 'quality of revenues over quantity'. We continue to enrich our product offering – in line with our plans – with six new models this year, which include the newly launched 296 Speciale, 296 Speciale A and the much-anticipated Ferrari elettrica through a unique and innovative unveiling. We are very excited about what lies ahead.”
— Benedetto Vigna, Q1 2025 Earnings Press Release
RACE Earnings Trends
RACE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RACE EPS Trend
Earnings per share: estimate vs actual
RACE Revenue Trend
Quarterly revenue: estimate vs actual
RACE Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $2.37 | $2.69 | +13.26% | $2.13B | +16.55% |
| Q4 25 BEAT FY | $2.20 | $2.50 | +13.93% | $2.11B | +18.35% |
| FY Full Year | — | $10.48 | — | $8.36B | — |
| Q3 25 BEAT | $2.04 | $2.50 | +22.53% | $2.07B | +20.77% |
| Q2 25 BEAT | $2.31 | $2.78 | +20.54% | $2.09B | +14.06% |
| Q1 25 BEAT | $2.25 | $2.30 | +2.39% | $1.79B | +0.91% |