Earning Preview: Ferrari NV Q3 revenue is expected to increase by 11.00%, and institutional views are predominantly bullish

Earnings Agent10-27 12:54

Abstract

Ferrari NV will report quarterly results on November 03, 2026 Pre-MKt; this preview summarizes market expectations for revenue, profitability, and EPS alongside highlights from the prior quarter and majority analyst views between April 27, 2026 and October 27, 2026.

Market Forecast

Consensus modeling for the upcoming quarter points to revenue of 1.89 billion in EUR terms with year-over-year growth of 10.997%, an EBIT estimate of 0.55 billion with 14.195% growth, and EPS of 2.40 with 16.783% growth; the last reported gross profit margin was 52.59% while the net profit margin was 23.85%. The company’s main business is led by automobiles and parts, supported by sponsorship, commercial and brand, with the near-term outlook centered on sustained order visibility and a high-mix product pipeline. The most promising driver remains automobiles and parts at 1.63 billion revenue last quarter, while sponsorship, commercial and brand contributed 0.21 billion with incremental growth potential from brand monetization initiatives.

Last Quarter Review

Ferrari NV delivered revenue of 1.94 billion, a gross profit margin of 52.59%, net profit attributable to the parent company of 0.46 billion with a net profit margin of 23.85%, and adjusted EPS of 2.62, with year-over-year growth of 9.623% for EPS and 8.437% for revenue; quarter-on-quarter net profit growth was 11.963%. A key highlight was EBIT of 0.61 billion, exceeding estimates, alongside robust pricing and favorable product mix. Main business performance showed automobiles and parts revenue of 1.63 billion, sponsorship, commercial and brand revenue of 0.21 billion, and other revenue of 0.10 billion, reflecting resilient demand and diversified monetization.

Current Quarter Outlook

Main business momentum

Automobiles and parts remain central to quarterly earnings sensitivity given their revenue scale and operating leverage. Deliveries mix continues to skew toward higher-margin nameplates, which historically supports margin resilience even under macro variability. Based on the company’s forecast dataset, revenue is modeled at 1.89 billion, aided by strong order books and disciplined allocation, while EPS of 2.40 and EBIT of 0.55 billion imply sustained profitability versus the prior period.

Pricing power is a recurring earnings pillar, reinforced by curated production slots and personalization uptake that typically lift average transaction values. Inventory discipline and limited editions can cushion demand cyclicality, aligning with last quarter’s margin profile of a 52.59% gross margin and a 23.85% net margin. Execution risks include production cadence and component timing, but prior-quarter EBIT outperformance suggests room for efficiency support in the short term.

Most promising growth vector

The most promising revenue engine this quarter remains automobiles and parts at 1.63 billion in the last quarter, supported by a pipeline transition favoring high-content models and tailored specifications. While sponsorship, commercial and brand at 0.21 billion is smaller in absolute terms, it offers incremental growth via licensing, events, and digital channels that diversify profit sources.

Monetization of brand and experiences can contribute relatively higher incremental margins compared with hardware, particularly when paired with motorsport, lifestyle collections, and curated programs. The quarter’s EPS growth expectation of 16.783% reflects operating leverage from this mix, even as total revenue growth is modeled near 11.00%. This dynamic suggests a focus on profitability quality over sheer volume.

Key factors influencing stock performance this quarter

Investor attention centers on margin durability, as the last quarter’s gross and net margins provide a high bar for comparison. Any commentary on product mix, personalization penetration, and pricing cadence will shape forward margin expectations. Execution on EBIT, guided at 0.55 billion, will be read alongside any updates on cost normalization and FX sensitivity, which can sway reported metrics.

Revenue visibility through the order book remains a core valuation anchor; confirmation of a healthy backlog trajectory would support the EPS estimate of 2.40 and the EBIT outlook. Management tone on deliveries, supply constraints, and phased launches will be critical for assessing quarter-on-quarter momentum. Additionally, indications of capital allocation and brand-led initiatives may reinforce confidence in mid-term growth.

Analyst Opinions

Analyst views from April 27, 2026 to October 27, 2026 skew bullish, with a majority of institutions reiterating Buy ratings and setting price targets in the €381.00–€430.00 range, while a minority maintained Hold; representative positive calls include Morgan Stanley at €395.00, RBC Capital at €430.00, Barclays at €400.00, Bank of America at €400.00, Berenberg at €381.00, and Goldman Sachs commentary consistent with Buy. The bullish cohort outnumbers neutral or cautious stances by roughly 8-to-2, emphasizing beat-and-raise potential, disciplined allocation, and margin headroom; one neutral view from Citi at €347.00 underscores valuation balance but does not challenge the base-case growth narrative. The prevailing view expects revenue growth near 11.00% with double-digit EPS expansion, attributing upside to mix, pricing, and brand monetization, and places near-term evaluation on the sustainability of mid-50s gross margin and mid-20s net margin metrics as key validation points.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.