Ferrari Q1 EPS €2.33 Misses €2.37 Estimate, Lowers 2026 Outlook
Ferrari reported Q1 EPS of €2.33, missing estimates of €2.37, while revenue rose 3% year-over-year to €1.85 billion, slightly beating the €1.83 billion consensus. The company forecast full-year 2026 revenue of about €7.50 billion and adjusted EPS of €9.45, both below analyst projections, causing shares to dip in premarket trading.
1. Q1 Financial Results
Ferrari reported first-quarter earnings per share of €2.33, missing the €2.37 estimate, while revenue grew 3% year-over-year to €1.85 billion, above the €1.83 billion consensus. Operating profit reached €548 million (29.7% margin) and EBITDA hit €722 million (39.1% margin), with industrial free cash flow at €653 million (up 5%).
2. Full-Year Guidance
The company issued 2026 guidance of approximately €7.50 billion in revenue and adjusted diluted EPS of €9.45, both below analyst forecasts of €7.57 billion and €9.77 respectively.
3. CEO Commentary and Order Book
CEO Benedetto Vigna cited an enriched mix and strong demand for personalizations, noting an order book extended towards late 2027, as justification for reaffirming the full-year outlook despite the EPS miss.
4. Market Reaction
Shares in Ferrari slipped slightly in U.S. premarket trading following the earnings release and revised guidance.