Ferrari (RACE) Q1 2026 Results: Revenue Growth, Strong Profit Margins

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Ferrari reported strong financial results for Q1 2026, with net revenues reaching €1,848 million, up 3% year over year. Operating profit (EBIT) rose to €548 million, representing a 29.7% margin, while EBITDA totaled €722 million with a 39.1% margin. Net profit came in at €413 million, resulting in diluted earnings per share of €2.33. Industrial free cash flow was particularly robust at €653 million, marking a 5% increase from the prior year, and the company ended the quarter with a Net Industrial Cash position of €388 million.

During the quarter, Ferrari delivered 3,436 vehicles, a slight decline that was intentionally planned to facilitate model changeovers. Despite the lower volume, both revenue and profitability improved, driven by a richer sports car mix, continued strong demand for personalization, and a highly favorable geographic mix led by the Americas. Deliveries of key models such as the 12Cilindri family, Purosangue, and SF90 XX family increased, while the F80 supercar began its ramp-up phase. Growth was further supported by higher racing revenues, particularly from sponsorships and engine leasing to Formula 1 teams, as well as expanded lifestyle activities, including the opening of a new flagship store in London.



Looking ahead, CEO Benedetto Vigna confirmed that Ferrari's order book extends through the end of 2027, reinforcing confidence in the company's outlook. Ferrari has therefore reaffirmed its 2026 guidance, targeting net revenues of approximately €7.5 billion, an adjusted EBITDA margin of at least 39.0%, and adjusted diluted earnings per share of at least €9.45. Vigna also previewed the upcoming world premiere of the Ferrari Luce, which is expected to combine cutting-edge technology with the brand's heritage.

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