Ferrari reports Q2 revenue growth and raises full-year guidance

Ferrari reported second-quarter adjusted diluted earnings per share of 2.62 euros on revenue of 1.94 billion euros, both ahead of LSEG consensus estimates, as wealthy buyers continued to spend on bespoke options despite lower unit shipments during planned model changeovers. Operating profit rose 10% year on year to 605 million euros for a 31.2% margin, while net profit increased 9% to 463 million euros. The company raised several full-year targets, including revenue to about 7.6 billion euros from 7.5 billion euros previously, adjusted diluted EPS to at least 9.68 euros from at least 9.45 euros, industrial free cash flow to at least 1.55 billion euros, and adjusted EBITDA to at least 2.97 billion euros with margins at or above 39%. CEO Benedetto Vigna said he was very pleased with how orders are proceeding, and Ferrari said its order book now extends through all of 2027. The earnings update came as the company’s first electric vehicle, the Luce, reportedly has already met its 2026 sales target of 500 units within two months of its May debut, despite a backlash over the model’s design and an 8% one-day drop in Ferrari shares after its unveiling. Ferrari has positioned the $640,000 four-door EV toward wealthy Chinese and Silicon Valley buyers, but has told dealers not to pressure existing customers to switch from gasoline models. The company also scaled back its EV ambitions in October, saying it now aims for 20% of its lineup to be all-electric by 2030 instead of 40%, as U.S. EV demand weakened and rivals such as Lamborghini pulled back from planned luxury EV launches.