Ferrari shares advanced after the automaker lifted its full-year 2026 financial targets following a stronger-than-expected third quarter, with higher-margin vehicle mix and customer personalizations offsetting a planned model changeover.

The upgraded outlook came alongside Ferrari's Q3 2026 results, released November 3. By midday on Monday, November 9, Ferrari stock was trading at 373.73 euros on Lang & Schwarz at 12:18 CET.

For the third quarter, Ferrari reported net revenue of 1.896 billion euros, a 7 percent increase year over year and a 10 percent rise at constant currency. Revenue tied to cars and spare parts climbed 7 percent to 1.586 billion euros, which the company attributed to a richer mix of sports cars and greater customer personalization.

Profitability improved further down the income statement. Operating profit grew 12 percent to 563 million euros, yielding an operating margin of 29.7 percent, while EBITDA also rose 12 percent to 753 million euros for a 39.7 percent margin. Net profit totaled 431 million euros, and diluted earnings per share increased to 2.44 euros from 2.14 euros a year earlier.

Ferrari generated industrial free cash flow of 567 million euros during the quarter, helped by profitability and working-capital management. Net industrial cash stood at 219 million euros as of September 30, a swing from net industrial debt of 131 million euros at the end of June. The company also carried out 173 million euros in share repurchases during the period.

Deliveries totaled 3,368 vehicles as Ferrari continued transitioning its lineup. Shipments of the Amalfi, 296 Speciale, 12Cilindri Spider and Purosangue rose, while the 849 Testarossa and 296 Speciale Aperta progressed through their production ramp-up. The limited-edition F80 also contributed to the favorable mix.

Executives said the improved guidance stems from stronger-than-anticipated personalization revenue, reduced currency headwinds following hedging, and Ferrari's second-place standing in the Formula 1 constructors' championship. Chief Executive Benedetto Vigna noted that the order book now extends into 2028, with two additional model launches still planned before the end of 2026.

Ferrari now projects full-year 2026 net revenue of roughly 7.65 billion euros, up from a prior estimate of about 7.60 billion euros. Adjusted EBITDA guidance rose to at least 3 billion euros from 2.97 billion euros, and adjusted EBIT guidance increased to at least 2.285 billion euros from 2.26 billion euros. Adjusted diluted earnings per share are now expected to reach at least 9.85 euros, up from 9.68 euros, while industrial free cash flow guidance was raised to as much as 1.65 billion euros from a prior floor of 1.55 billion euros.

The upgrade underscores Ferrari's capacity to grow earnings through pricing, customization and product mix even as delivery volumes shift during model transitions. Ferrari trades on the NYSE and Euronext Milan.

Source: ad-hoc-news.de

Before this, we covered: Two Ferrari Daytona SP3s Sold Hours Apart—With an $8 Million Price Gap Between Them