Ferrari reports Q1 earnings miss, guides below consensus

Investing.com -- Ferrari reported first-quarter earnings that missed analyst expectations, and provided below-consensus guidance for the full year.

The luxury carmaker’s shares edged slightly lower in U.S. premarket trading.

Ferrari posted earnings per share (EPS) of €2.33, falling short of analyst expectations of €2.37, while revenue of €1.85 billion came in just above the €1.83 billion consensus estimate. Revenue rose 3% from a year earlier and 6% at constant currency.

Operating profit came in at €548 million, representing a margin of 29.7%, up 1% year-on-year in reported terms but up 8% at constant currency. EBITDA reached €722 million, with a margin of 39.1%, rising 4% versus the prior year and 9% at constant currency.

Industrial free cash flow was €653 million, up 5% from a year ago.

“Our enriched mix and continued demand for personalizations contributed to the strong earnings we are presenting today. With these results and an order book further extending towards the end of 2027, we confirm our 2026 guidance”, said Benedetto Vigna, CEO of Ferrari.

Ferrari expects full-year 2026 revenue of around €7.50 billion, below the consensus estimate of €7.57 billion. Adjusted diluted EPS guidance of €9.45 also came in beneath the analyst forecast of €9.77.

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