Ferrari shares soar after earnings: new 2026 guidance reassures the market

Ferrari staged a strong rebound on the stock market after posting quarterly results that exceeded expectations and unveiling new 2026 guidance that reassured investors about the group’s ability to sustain growth and margins during a crucial model transition phase. In Milan, the stock climbed as much as 10%, marking its best intraday performance since March 2020, before settling around +7.9% in early afternoon trading.

The Prancing Horse closed the final quarter of last year with net revenues of €1.8 billion. EBITDA rose to €700 million, driven mainly by an improved product mix, growth in sponsorship revenues and strong demand for highly customized vehicles.

The company also announced that 2025 earnings will come in above Wall Street expectations, helping to ease concerns related to the impact of tariffs, the weakening of the US dollar and volatility in demand across different geographic areas. Management highlighted that the order book provides visibility through the end of 2027, strengthening confidence in the resilience of demand for high-end cars, despite a decline in deliveries during the quarter due to a more selective volume management approach.

The stock’s recovery represents a breath of fresh air for shareholders after difficult months, marked by the disappointment following the autumn investor day and the negative impact of tax changes in the UK, which weighed on sales as wealthy clients relocated to countries with more favorable tax regimes.

Particular appreciation was finally expressed for the new 2026 guidance, which confirms Ferrari’s strategy: prioritizing pricing power, product mix and customization over volume growth, with the aim of preserving high margins during a phase of profound evolution of the model range.

Andrea Pelucchi