Q1 26 EPS
$2.69
BEAT +13.26%
Est. $2.37
Q1 26 Revenue
$2.13B
BEAT +16.55%
Est. $1.83B
vs S&P Since Q1 26
+11.7%
BEATING MARKET
RACE +13.2% vs S&P +1.5%
Market Reaction
Did RACE Beat Earnings? Q1 2026 Results
Ferrari delivered a standout first quarter for fiscal 2026, posting earnings per share of $2.69 against a Wall Street consensus of $2.37, a beat of 13.26% that extended the Italian automaker's winning streak to four consecutive quarters of topping EP… Read more Ferrari delivered a standout first quarter for fiscal 2026, posting earnings per share of $2.69 against a Wall Street consensus of $2.37, a beat of 13.26% that extended the Italian automaker's winning streak to four consecutive quarters of topping EPS estimates. Revenue climbed 3.2% year-over-year to $2.13 billion, clearing the $1.83 billion consensus by 16.55%, a result driven not by volume but by an enriched product mix and surging personalization revenue, even as total shipments dipped to 3,436 units from 3,593 a year ago amid a planned model changeover. Initial deliveries of the F80 supercar and first shipments of the 296 Speciale family, the Amalfi, and the 849 Testarossa were the primary catalysts. Ferrari's ability to grow revenue while shipping fewer cars underscores why it trades differently from conventional automakers. The company reaffirmed full-year 2026 guidance, targeting net revenues of approximately $8.65 billion and Adjusted EBITDA of at least $3.38 billion, signaling continued confidence despite currency headwinds and higher tariff-related costs.
Key Takeaways
- • Richer sports cars mix including higher personalizations contributed €81 million positive EBIT impact
- • F80 supercar ramp-up and Special Series deliveries
- • Positive country mix driven by Americas
- • Higher sponsorship and lifestyle revenues
- • Positive contribution from engine rental to other Formula 1 teams
RACE Forward Guidance & Outlook
Ferrari confirmed its full-year 2026 guidance unchanged: net revenues of approximately €7.50 billion; Adjusted EBITDA of ≥€2.93 billion with margin ≥39.0%; Adjusted EBIT of ≥€2.22 billion with margin ≥29.5%; Adjusted Diluted EPS of ≥€9.45; and Industrial Free Cash Flow of ≥€1.50 billion. Key assumptions include significant model change-over shaping the year with positive product mix and personalizations, higher racing revenues mainly from sponsorships, lifestyle activities supporting top-line contribution, higher brand investments and racing/digital transformation expenses, increasing depreciation and amortization in line with new model production starts, and negative currency impact net of hedges. Guidance is based on current visibility on Middle East crisis effects, which the company continues to manage actively.
RACE YoY Financials
Q1 2026 vs Q1 2025, 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% |