Ferrari (NYSE:RACE) reported first-quarter results that fell short of analyst expectations and issued full-year guidance below consensus, sending its shares slightly lower in U.S. premarket trading.
The luxury automaker posted earnings per share of €2.33, missing the €2.37 estimate, while revenue came in at €1.85 billion, slightly ahead of the €1.83 billion consensus and up 3% year over year, or 6% at constant currency.
Operating profit reached €548 million, translating to a margin of 29.7%. This marked a 1% increase on a reported basis and an 8% rise at constant currency. EBITDA totaled €722 million, with a margin of 39.1%, up 4% year over year, or 9% at constant currency.
Industrial free cash flow improved 5% to €653 million compared to the prior-year period.
“Our enriched mix and continued demand for personalizations contributed to the strong earnings we are presenting today. With these results and an order book further extending towards the end of 2027, we confirm our 2026 guidance”, said Benedetto Vigna, CEO of Ferrari.
Looking ahead, Ferrari expects full-year 2026 revenue of about €7.50 billion, below the €7.57 billion consensus estimate. The company also projected adjusted diluted EPS of €9.45, under the analyst forecast of €9.77.