Ferrari earnings: results of 3 November 2026

Ferrari's third quarter of 2026, to the end of September, reported on 3 November 2026: profit grew faster than sales, cash poured in, and the company raised its forecasts for the year for the second quarter running, though the weaker dollar and yen took a real bite out of the reported figures. ¹

Against what analysts expected

Analysts on average expected $2.66 of earnings per US-listed share for the quarter, according to Nasdaq's earnings calendar; Ferrari reports its results in euros. ¹²

The strong points

• Operating profit, the profit from running the business before interest and tax, rose 12% to €563 million, faster than sales, so Ferrari kept more of each euro it took in. ¹
• Earnings per share rose to €2.44 from €2.14 a year earlier, with no one-off items in either quarter shaping the figure. ¹
• Free cash flow from the car business, the cash left after running the business and investing in it, was €567 million, well above the quarter's net income. ¹

The weak points

• The weaker dollar and yen held back the reported figures: at constant exchange rates operating profit would have grown 23%, not 12%. ¹
• The arm that lends customers money to buy their cars used €56 million of cash in the quarter, more than a year earlier, and its debt rose. ¹

What the company expects

• Ferrari raised its 2026 forecasts again: it now expects adjusted earnings per share of €9.85 or more, up from €9.68 or more, and sales of about €7.65 billion, up from about €7.60 billion. ¹
• Ferrari now expects up to €1.65 billion of free cash flow from the car business this year, up from at least €1.55 billion before. ¹

Our verdict on the quarter

A very strong report. Ferrari grew its profit and earnings per share by double digits, turned that profit into plenty of cash, and raised its forecasts for the year for a second time, with currency the only real drag.

The results as published

• The results release itself
• The filing it came with (SEC)
• The previous results, for what it forecast then

Notes

1. Ferrari's results release, 3 November 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 4 November 2026. ↩