Ferrari Races Past Q1 Estimates, Maintains 2026 Outlook; All-Electric 'Luce' Debut Set for May 25
Ferrari reported first-quarter earnings that exceeded analyst expectations and maintained its full-year guidance. The company announced it will unveil its first all-electric vehicle, the Luce, on May 25.
Financial Results (Q1 2026 vs. LSEG estimates)
- Adjusted EPS: €2.33 ($2.72) vs. €2.27 expected
- Revenue: €1.85 billion vs. €1.81 billion expected
- Revenue grew 3% year-over-year from €1.79 billion
- Operating profit increased 1.1%, adjusted earnings rose 4.2% year-over-year
Deliveries
- Total deliveries were 3,436 units, down 4.4% year-over-year
- Ferrari attributed the decline to a planned production slowdown for model change-over
- The company said deliveries were not affected by the Middle East conflict, as it redirected some units to other regions
2026 Guidance
- Net revenues: €7.5 billion
- Adjusted operating profit: at least €2.22 billion
- Adjusted EPS: €9.45
- Industrial free cash flow: €1.5 billion or more
"The Luce combines tradition and innovation, and anticipation is high ahead of its May 25 premiere."
— Ferrari CEO Benedetto Vigna
Key Takeaway: Ferrari's strong first-quarter performance and reiterated guidance reinforce investor confidence, while the upcoming Luce launch marks a historic shift toward electrification for the luxury automaker.