Q2 25 EPS
$2.78
BEAT +20.54%
Est. $2.31
Q2 25 Revenue
$2.09B
BEAT +14.06%
Est. $1.83B
vs S&P Since Q2 25
-29.7%
TRAILING MARKET
RACE -9.9% vs S&P +19.8%
Market Reaction
Did RACE Beat Earnings? Q2 2025 Results
Ferrari delivered a blowout second quarter, posting earnings per share of $2.78 against a consensus estimate of $2.31, a beat of 20.54%, while revenue of $2.09 billion topped expectations by 14.06% and grew 4.4% year over year. The standout driver wa… Read more Ferrari delivered a blowout second quarter, posting earnings per share of $2.78 against a consensus estimate of $2.31, a beat of 20.54%, while revenue of $2.09 billion topped expectations by 14.06% and grew 4.4% year over year. The standout driver was a richer product and country mix, amplified by surging personalization contributions and a 21.9% jump in sponsorship and brand revenues, which collectively lifted EBIT margins 100 basis points to 30.9%. The luxury automaker shipped 3,494 cars in the quarter, nearly flat with a year ago, yet managed to extract meaningfully more revenue per vehicle as the SF90 XX and 12Cilindri families gained momentum. Ferrari also benefited from sidestepping meaningful tariff exposure, having imported most US-bound inventory before April levies took effect, and subsequently removed the 50-basis-point margin risk it had flagged earlier in the year. With stronger confidence in its 2025 outlook, Ferrari now targets net revenues of at least $8.19 billion and adjusted diluted EPS of at least $10.06, though investors responded cautiously to the guidance update amid concerns over pricing dynamics in the US market.
Key Takeaways
- • Richer product and country mix driven by SF90 XX and 12Cilindri families
- • Higher contribution from personalization
- • New sponsorships and lifestyle activities growth
- • Better Formula 1 ranking in 2024 driving higher commercial revenues
- • Cost of sales as percentage of revenues improved to 47.4% from 50.0%
- • Advances received for cars, mainly the F80 hypercar
RACE YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
RACE Revenue by Segment
With YoY comparisons, source: SEC Filings
RACE Revenue by Geography
With YoY comparisons, source: SEC Filings
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% |