Companies /Consumer Cyclical

Ferrari N.V.

NYSE: RACE Auto Manufacturers
$420.54
â–² $6.50 (+1.57%) today
Markets closed · 8:57pm ET

Q1 2026 Earnings

Reported May 5, 2026, 12:10pm ET · SEC source
$2.69
Beat +13.26%
EPS · est. $2.37
$2.1B
Beat +16.55%
Revenue · est. $1.8B
+4.7%
Beating market
RACE vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+2%+4%+6%May 5May 6report 12:10pm ETearnings+1.4%+2.5%
0+2%+4%+6%May 5May 6earnings+1.4%+2.5%
RACE +2.5%S&P 500 +1.4%
0+2%+4%+6%May 5May 6report 12:10pm ETearnings+2.1%+2.5%
0+2%+4%+6%May 5May 6earnings+2.1%+2.5%
RACE +2.5%NASDAQ +2.1%
−2%0+2%+4%May 4May 13report 12:10pm ETearnings+2.6%+1.2%
−2%0+2%+4%May 4May 13earnings+2.6%+1.2%
RACE +1.2%S&P 500 +2.6%
−2%0+2%+4%May 4May 13report 12:10pm ETearnings+4.8%+1.2%
−2%0+2%+4%May 4May 13earnings+4.8%+1.2%
RACE +1.2%NASDAQ +4.8%
−3.97%
Day of report
+3.32%
Next session
+1.17%
One week
+6.62%
30 days

S&P 500 over the same 30 days: +1.90%.

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 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 <a href="https://247wallst.com/investing/2026/03/10/ferrari-why-the-worlds-most-exclusive-automaker-trades-like-an-asset-not-a-car-company/">why it trades differently</a> 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

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 · SEC filings Q1 2025 Q1 2026
$0$600.0M$1.2B$1.8B$2.1B$2.1BRevenue$1.1B$1.1BGross Profit$635.9M$632.1MOperating Income$474.7M$476.7MNet Income
$0$600.0M$1.2B$1.8BRevenueGross ProfitOperating IncomeNet Income

RACE Revenue by Segment

Cars and Spare Parts
Cars and spare parts$1.8B+1.3%
Sponsorship, commercial and brand$251.3M+13.9%
Sponsorship, Commercial and Brand
Other$85.1M+16.9%

RACE Revenue by Geography

Rest of World$845.1M
Rest of EMEA
Americas$698.2M
United States$645.4M
Asia Pacific$259.1M
Italy$160.0M
Greater China$168.9M
United Kingdom

Figures from SEC filings and company reports. Not investment advice.