Ferrari Q2 2026 earnings exceed Wall Street forecasts as luxury vehicle demand and racing revenue support growth.
Stock Earnings Results
July 30, 2026
Table of Contents
July 30, 2026
Ferrari N.V. (NYSE: RACE) reported second-quarter 2026 results above expectations, supported by higher revenue, stronger profit, continued personalization demand, positive product mix, racing revenue growth, and raised full-year guidance.
Ferrari is a luxury performance car company known for sports cars, racing, lifestyle products, exclusivity, innovation, and its Scuderia Ferrari Formula 1 heritage.
The company reported EPS of $3.05, above estimates of $2.83, representing a 7.8% earnings surprise. Revenue came in at $2.25 billion, above estimates of $2.14 billion, with revenue growth of 11.1%.
Net revenues increased 8% year-over-year to €1.94 billion.
At constant currency, net revenues increased 11%.
Operating profit increased 10% to €605 million.
Operating profit margin was 31.2%.
Net profit increased 9% to €463 million.
Diluted EPS increased 10% to €2.62.
EBITDA increased 7% to €755 million.
EBITDA margin was 39.0%.
Industrial free cash flow increased 39% to €276 million.
Ferrari said second-quarter performance continued to benefit from product mix and higher personalization.
Cars and spare parts revenue increased 8% to €1.63 billion.
That increase was helped by a richer sports car mix and stronger personalization contribution.
CEO Benedetto Vigna said sustained personalization trends supported the company’s decision to raise full-year guidance.
Ferrari delivered 3,366 units during the quarter.
That was down from 3,494 units in the prior-year quarter.
The company said deliveries reflected its planned model change-over.
Deliveries increased for the 12Cilindri, 12Cilindri Spider, Purosangue, and 296 Speciale family.
The Amalfi and 849 Testarossa continued their ramp-up phase.
The 296 GTS, Roma Spider, and SF90 XX family declined in line with their phase-out.
Shipments of the F80 increased according to plan.
Ferrari said it has the most complete product line-up in its history.
The company also said demand remains healthy, with an order book that fully covers 2027.
That is an important signal for Ferrari because its business model depends on scarcity, pricing power, mix, and strong customer visibility rather than chasing volume growth.
Sponsorship, commercial, and brand revenue increased 2% to €209 million.
Racing revenue increased mainly because of higher sponsorships and a positive contribution from engine rentals to other Formula 1 racing teams.
Other revenue increased 31% to €100 million.
Ferrari said lifestyle activities continued to benefit from the Ferrari ecosystem, with retail and experiential activations tied to Le Mans, Monaco, Silverstone, and Goodwood.
Operating profit growth was supported by positive product mix, the F80, higher personalizations, racing activities, and temporarily lower depreciation and amortization during the model change-over.
Those benefits were partly offset by higher industrial costs, higher marketing expenses, and higher racing costs tied to stronger Formula 1 in-season ranking assumptions.
EBITDA margin remained high at 39.0%, showing Ferrari’s ability to protect profitability even during a product transition period.
Ferrari raised its 2026 guidance.
The company now expects net revenue of about €7.60 billion, up from the prior outlook of about €7.50 billion.
Adjusted EBITDA is expected to be at least €2.97 billion, up from at least €2.93 billion.
Adjusted operating profit is expected to be at least €2.26 billion, up from at least €2.22 billion.
Adjusted diluted EPS is expected to be at least €9.68, up from at least €9.45.
Industrial free cash flow is expected to be at least €1.55 billion, up from at least €1.50 billion.
Ferrari said the updated outlook reflects stronger-than-expected personalization and lower-than-expected currency headwinds, net of hedges.
Ferrari said total shareholder remuneration exceeded €800 million during the quarter.
That included €599 million of dividend distributions and €209 million of share repurchases.
From July 1 to July 24, the company repurchased another 139,732 common shares for €45.5 million.
Those repurchases were made under the second tranche of Ferrari’s multi-year share buyback program of about €3.5 billion, expected to be executed by 2030.
Ferrari delivered a strong quarter built on pricing power, personalization, and product mix.
Revenue beat expectations, earnings topped estimates, industrial free cash flow increased sharply, and management raised full-year guidance. The company also showed that demand remains healthy even as deliveries declined during a planned model transition.
The key question is whether Ferrari can keep growing profit through personalization, special models, racing, and lifestyle revenue while preserving scarcity and brand exclusivity.
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