Ferrari stock raises 2026 targets as Q3 margins strengthen

Ferrari raised its 2026 financial targets after reporting stronger third-quarter profitability on Tuesday, November 3. The company said richer vehicle mix and higher customer personalizations supported earnings during a planned model changeover, according to Ferrari's financial results release.

Higher margins support revised targets

Third-quarter net revenue increased 7 percent year over year to 1.896 billion euros, while operating profit rose 12 percent to 563 million euros. The operating margin reached 29.7 percent, and EBITDA advanced 12 percent to 753 million euros with a 39.7 percent margin.

Ferrari attributed the improvement mainly to product mix, including the F80, and stronger personalizations. Higher depreciation and amortization linked to new-model production and increased marketing expenses partly offset the gains.

Guidance rises as model mix changes

The company lifted its 2026 revenue target to approximately 7.65 billion euros from 7.60 billion euros. Adjusted EBITDA guidance increased to at least 3.00 billion euros, adjusted EBIT guidance to at least 2.285 billion euros and adjusted diluted earnings per share guidance to at least 9.85 euros.

Management cited stronger-than-expected personalizations, lower net currency headwinds after hedging and the assumption of a second-place Formula 1 championship finish. Chief Executive Benedetto Vigna said the order book reaches into 2028 and that two further launches remain planned for 2026.

Deliveries totaled 3,368 vehicles in the quarter, 33 fewer than a year earlier. Investors therefore face a trade-off between higher value per vehicle and execution risk as Ferrari phases in new models.

Ferrari stock traded at 374.25 euros on Lang & Schwarz at 17:09 CET on Thursday, November 5, 2026. Since the latest report at 12:30 CET, when the quote was 380.73 euros, it has declined 1.70 percent. The real-time quote of Ferrari stock is available separately.

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