Ferrari Group (NYSE:RACE) shares climbed more than 8% on Tuesday after the company reported first-quarter revenue of €90 million and organic year-on-year growth of 7.4%.
The company said results were supported by strong performances from subsidiaries in Brazil, the United States and the United Arab Emirates, while trading conditions in Asia continued to be affected by persistent weakness in the Chinese market.
Ferrari Group also noted that recently launched hubs in Saudi Arabia and Vietnam contributed revenue during the quarter. Meanwhile, operations established earlier, including the Botswana business opened in 2024, have evolved into stable contributors to the group’s performance.
Analysts at Goldman Sachs described the trading update as “in line with our expectations.”
The company reaffirmed its full-year guidance, forecasting revenue growth of between 3% and 6% at constant exchange rates, alongside an adjusted EBITDA margin expected to remain broadly consistent with the 26% recorded in 2025.