Ferrari (RACE) Q3 2026 Earnings
How Did RACE Stock React to Q3 2026 Earnings?
Did RACE Beat Earnings? Q3 2026 Results
Yes. Ferrari reported Q3 2026 earnings of $2.73 a share on Nov 3, 2026, beating the $2.32 consensus estimate by 17.5%. Revenue was $2.1B against a $1.9B estimate.
Ferrari delivered a blowout third quarter for fiscal 2026, posting adjusted earnings per share of $2.73 against a consensus estimate of $2.32, a beat of 17.46% that extended the Italian automaker's streak of topping EPS estimates to six consecutive quarters. Revenue climbed 7.3% year over year to $2.12 billion, clearing the $1.90 billion consensus by 11.86%, even as total deliveries dipped slightly to 3,368 units from 3,401 a year earlier. The key driver was mix rather than volume, with the ramp-up of high-specification models including the F80 supercar and a surge in client personalizations lifting revenue per car well above prior-year levels. Currency was a headwind, but constant-currency revenue growth reached 10%, underscoring the underlying demand strength. Ferrari raised its full-year 2026 guidance once again, now targeting net revenues of approximately $8.56 billion and adjusted diluted EPS of at least $11.02, with the upgrade underpinned by stronger personalizations, moderating foreign-exchange pressure, and an order book that CEO Benedetto Vigna said now extends into 2028.
- Richer sports car mix, mainly supported by F80 deliveries
- Higher personalizations, led by the 296 Speciale family
- Higher sponsorships and lifestyle activities
- Engine rentals to other Formula 1 teams boosted Other revenues
- Effective tax rate of 23.0% reflecting the estimated new Patent Box benefit
- Positive working capital change supported industrial free cash flow of EUR 567 million
- Offsets: higher D&A from new model production, increased marketing expenses, and FX headwinds from the USD and JPY
“Uniqueness, innovation and focus: three key factors to keep the promises of our last Capital Markets Day. Deliveries of our F80 supercar and personalizations, led by the Ferrari 296 Speciale family, support our robust financial growth and reflect our clients' ever-deepening desire to make each Ferrari uniquely their own. Building on this solid foundation, we are further raising our full-year guidance.”
Ferrari CEO, on the earnings call
What Is Ferrari's Outlook?
Ferrari raised its 2026 guidance again: - Net revenues of about EUR 7.65 billion (previously ~7.60; 2025: 7.15) - Adjusted EBITDA of at least EUR 3.00 billion, with a margin of at least 39.2% (previously ≥2.97 / ≥39.0%) - Adjusted EBIT of at least EUR 2.285 billion, with a margin of at least 29.8% (previously ≥2.26 / ≥29.5%) - Adjusted diluted EPS of at least EUR 9.85 (previously ≥9.68; 2025: 8.96) - Industrial free cash flow of up to EUR 1.65 billion (previously ≥1.55) The upgrade reflects stronger-than-expected personalizations, lower-than-anticipated currency headwinds net of hedges, and an assumed second place in the Formula 1 Championship. The company confirmed the following assumptions versus 2025: - A significant model change-over and positive product mix - Higher racing and lifestyle revenues - Increased brand, racing and digital spending - Higher D&A as new models enter production The guidance is based on current visibility on the Middle East crisis. Two more product launches are planned for the rest of 2026, and the order book extends into 2028.
RACE YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.1B | $2.0B | +7.3% |
| Operating Income | $629.8M | $561.0M | +12.3% |
| Net Income | $482.1M | $426.6M | +13.0% |
RACE Revenue by Segment
RACE Revenue by Geography
When Does Ferrari Report Next?
Figures from SEC filings and company reports. Not investment advice.