NEW YORK — Ferrari S.p.A. reported first-quarter net profit of €463 million, exceeding analyst estimates of €429 million by 8 percent. Revenue reached €1.94 billion, surpassing the €1.87 billion consensus forecast, according to the company's Q1 earnings report.
Adjusted EBITDA climbed to €755 million, outperforming the €729 million estimate. The results reflect strong pricing power and consistent demand for the company's exclusive models.
Vehicle shipments totaled 3,366 units for the quarter. Ferrari generated €276 million in industrial free cash flow, reflecting efficient operations and strong cash conversion.
The company maintained its full-year adjusted EBITDA guidance at at least €2.97 billion, signaling management's confidence in sustained demand throughout 2026.
Demand for Ferrari's 12-cylinder models, including the newly launched 12Cilindri, remains particularly strong. High levels of personalization and limited production volumes have pushed order backlogs well into 2027 for many models.
Ferrari deliberately limits production to maintain scarcity, supporting higher average selling prices and protecting brand equity against market fluctuations.
Risks include a significant global economic slowdown affecting discretionary spending at the top end of the market, as well as supply chain disruptions that remain a persistent challenge across the automotive industry.
Ferrari plans to unveil new limited-edition models later this year, which typically command significant premiums and draw strong collector interest. The company's electrification strategy, including its first fully electric model expected in 2027, remains a key long-term focus.
The company has consistently returned capital to shareholders through dividends and share buybacks, supporting its premium valuation within the global luxury sector.
