Ferrari reported third-quarter earnings that surpassed Wall Street expectations, prompting the luxury automaker to raise its financial outlook for 2026. The company posted adjusted earnings per share of 2.44 euros ($2.77), exceeding the anticipated 2.37 euros, alongside revenue of 1.9 billion euros, slightly above the forecast of 1.89 billion euros. Following these results, Ferrari increased its full-year revenue guidance to 7.65 billion euros from 7.6 billion euros, with adjusted EBITDA expectations raised to 3 billion euros from 2.97 billion euros, signaling confidence in its financial trajectory.

Despite a decline in vehicle shipments during the first nine months of 2026—10,170 units, or 318 fewer than the prior year—Ferrari saw growth in revenue and earnings. The drop in shipments was mainly influenced by lower deliveries to the Americas and key Asian markets such as China, Hong Kong, and Taiwan. Nonetheless, Ferrari attributed the improvement in guidance to stronger-than-expected demand for personalized customer options, reduced currency headwinds, and positive momentum from its second-place finish in the Formula 1 championship.

The company also lifted its forecast for industrial free cash flow to as much as 1.65 billion euros, up from a previous minimum expectation of 1.55 billion euros. Ferrari CEO Benedetto Vigna highlighted ongoing strong customer engagement, with the order book extending into 2028 and two more vehicle launches planned for the year. The brand continues to cultivate its global appeal through events that connect with clients and partners across its racing, sports car, and lifestyle offerings.

While Ferrari’s results aligned broadly with analyst estimates, some investors anticipated a more substantial increase in guidance, causing initial shares to dip before closing at $414.77, up 2.9%. RBC Capital Markets analyst Tom Narayan noted that the results were healthy and anticipates a more positive market reception as investors digest the solid performance. Ferrari’s cautious but optimistic outlook reflects its efforts to balance exclusivity with demand growth amid evolving market dynamics.