NYSE$RACE
Ferrari NV · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
Ferrari Q1 2026: €1.85B revenue, €413M net profit, 3,436 shipments, guidance confirmed
Ferrari N.V. reported interim results for the first quarter ended March 31, 2026 on May 5, 2026. Net revenues rose 3% to €1,848 million from €1,791 million. Operating profit (EBIT) was €548 million (29.7% margin) versus €542 million (30.3%), and net profit was €413 million with diluted EPS of €2.33 versus €2.30 a year ago. Shipments totaled 3,436 cars, down from 3,593, reflecting model change-over timing. EMEA shipments were 1,458 (42.4% of total), Americas 1,030 (30.0%), and China/HK/Taiwan 255 (7.4%). Cash and cash equivalents were €1,857 million at quarter end. Management confirmed unchanged 2026 guidance including net revenues of approximately €7.50 billion, adjusted EBITDA of at least €2.93 billion (≥39.0% margin), and adjusted operating profit of at least €2.22 billion (≥29.5% margin).
- Net revenues €1,848 million (+3% YoY); EBIT €548 million (29.7% margin); net profit €413 million (€2.33 EPS).
- Shipments 3,436 cars vs 3,593 prior year amid significant model change-over and positive mix.
- Americas shipments 1,030 (30.0% of total); EMEA 1,458; China/HK/Taiwan 255.
- Cash and cash equivalents €1,857 million; total equity €4,054 million.
- 2026 guidance confirmed: ~€7.50B net revenues, adj. EBITDA ≥€2.93B (≥39%), adj. EBIT ≥€2.22B (≥29.5%).
Headline financials
Revenue & EPS history
Ferrari · Revenue · Quarterly
€1.85B
Revenue by segment
Ferrari · €1.79B total across 3 segments · Q1 2025
- Cars and spare parts€1.54B—85.8%
- Sponsorship, commercial and brand€191M—10.7%
- Other€64M—3.6%
Forward guidance
Ferrari confirmed its 2026 guidance unchanged: net revenues of approximately €7.50 billion, adjusted EBITDA of at least €2.93 billion (≥39.0% margin), and adjusted operating profit of at least €2.22 billion (≥29.5% margin), assuming significant model change-over, higher racing and lifestyle contributions, and net negative currency impact.
Tailwinds
- Positive product mix and personalizations supporting profitability despite lower shipment volumes
- Robust industrial free cash flow generation expected from strong profitability
- Higher racing sponsorship revenues and lifestyle activities supporting top line
Headwinds
- Shipments down 4.4% YoY to 3,436 amid model change-over
- Higher brand, racing, and digital transformation expenses planned for 2026
- Negative net currency impact expected after hedges
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2026
+1.2%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+4.5%
Avg return
30 days after
56%
23 / 41 earnings
Positive
+12.8%
Q4 2018
Best reaction
-11.5%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.1% | +0.2% | +3.2% | |
| Q3 2025 | +2.0% | +5.4% | +0.3% | |
| Q2 2025 | -11.5% | +5.4% | +0.3% | |
| Q1 2025 | +1.7% | +4.7% | +3.0% | |
| Q4 2024 | +7.1% | -0.1% | +16.4% | |
| Q2 2024 | +5.0% | +0.9% | +20.3% | |
| Q1 2024 | -5.0% | -5.3% | -2.5% | |
| Q4 2023 | +9.6% | +9.4% | +23.0% | |
| Q3 2023 | +8.7% | +9.3% | +17.1% | |
| Q1 2023 | +6.9% | -1.7% | -2.9% | |
| Q2 2023 | -1.1% | -1.7% | -2.9% | |
| Q4 2022 | +2.7% | +6.0% | +7.5% | |
| Q3 2022 | -2.3% | +0.2% | +1.2% | |
| Q2 2022 | +1.2% | +1.5% | +15.0% | |
| Q4 2021 | -2.5% | -11.0% | -11.4% | |
| Q1 2022 | -5.7% | -11.0% | -11.4% | |
| Q3 2021 | +6.6% | -2.5% | -1.0% | |
| Q2 2021 | -3.2% | +9.5% | +9.5% | |
| Q1 2021 | -6.8% | +0.5% | -0.4% | |
| Q4 2020 | -7.8% | -6.6% | -13.5% | |
| Q3 2020 | +10.4% | +13.5% | +17.6% | |
| Q2 2020 | +2.1% | +2.3% | +8.2% | |
| Q1 2020 | +4.7% | +7.3% | +18.3% | |
| Q4 2019 | -1.4% | -2.0% | -9.4% | |
| Q3 2019 | +2.6% | +2.2% | +3.9% | |
| Q2 2019 | -3.8% | -3.0% | -3.2% | |
| Q1 2019 | +6.6% | +6.8% | +12.2% | |
| Q4 2018 | +12.8% | +12.9% | +17.0% | |
| Q3 2018 | -3.0% | -7.9% | -9.3% | |
| Q2 2018 | -4.9% | -6.5% | -1.2% | |
| Q1 2018 | +9.2% | +8.7% | +5.6% | |
| Q4 2017 | +6.4% | +6.2% | +1.3% | |
| Q3 2017 | -2.1% | -4.3% | -10.4% | |
| Q2 2017 | +0.0% | +2.1% | +7.8% | |
| Q1 2017 | +8.5% | +11.1% | +19.2% | |
| Q4 2016 | +5.7% | +3.8% | +6.6% | |
| Q3 2016 | +6.6% | +6.7% | +11.5% | |
| Q2 2016 | +2.4% | +2.4% | +5.5% | |
| Q1 2016 | -4.1% | — | — | |
| Q4 2015 | -7.1% | — | — | |
| Q3 2015 | -5.3% | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — |
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