Ferrari Reports Strong Q1 Results, Confirms 2026 Guidance, and Boosts Industrial Cash Position
RACE is trading near its 52-week low of $312.51 (4.6% above the low).
Summary
Ferrari N.V. announced robust first-quarter 2026 results, with increased revenues, profits, and industrial free cash flow, leading to a significant shift to a net industrial cash position, while reaffirming its full-year guidance.
Key Events · Earnings and Guidance · RACE
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Strong Q1 Financial Performance
Net revenues increased 3% to Euro 1,848 million (6% at constant currency), Operating Profit (EBIT) rose 1% to Euro 548 million (8% at constant currency), and EBITDA grew 4% to Euro 722 million (9% at constant currency).
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2026 Guidance Confirmed
The company reaffirmed its full-year 2026 guidance, citing an enriched product mix, higher personalizations, and increased racing revenues, providing stability and confidence in future performance.
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Significant Balance Sheet Improvement
Ferrari shifted from a Net Industrial Debt of Euro 32 million at year-end 2025 to a Net Industrial Cash position of Euro 388 million, driven by strong industrial free cash flow of Euro 653 million.
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Ongoing Share Buyback Program
The company continues its multi-year share buyback program, having purchased 262,664 common shares for Euro 78.6 million between April 1 and May 1, 2026, as part of the second tranche of up to Euro 250 million.
Analysis · RACE · Manufacturing
Ferrari N.V. delivered a robust first quarter, exceeding expectations with growth across key financial metrics and a significant improvement in its balance sheet. The company's strategic management of deliveries, focusing on an enriched product mix and personalizations, allowed it to navigate model change-overs effectively. The shift from a net industrial debt to a substantial net industrial cash position underscores strong cash generation and financial health. Furthermore, the reaffirmation of the full-year 2026 guidance provides stability and confidence, especially as the stock is currently trading near its 52-week low, suggesting a potential disconnect between strong fundamentals and market valuation. The ongoing share buyback program also signals continued commitment to shareholder returns.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 28.9% of the 1666 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, RACE was trading at $327.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $77.3B. The 52-week trading range was $312.51 to $519.10. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.