By Dominic Chopping
Ferrari backed its full-year guidance as it started shipping several new models and had increased demand for car customizations in the first quarter.
The Italian luxury sports-car maker reported adjusted earnings before interest and taxes--one of its preferred measures of profitability--of 548 million euros ($640.7 million), up slightly from 542 million euros in the same quarter last year, as revenue rose 3.2% to 1.85 billion euros.
A FactSet analyst poll had forecast adjusted EBIT of 549 million euros on revenue of 1.83 billion euros.
It shipped 3,436 vehicles to customers in the quarter, 157 fewer than a year earlier, with the company noting that it had planned a lower number of deliveries as it ramps up production of some new models. A FactSet poll had expected deliveries of 3,473 cars.
Ferrari also echoed comments from several other European automakers who have in recent weeks confirmed little to no impact from the war in Iran.
"Total deliveries were not impacted by the surge of hostilities in the Middle East, as Ferrari leveraged its geographical allocation flexibility, bringing forward certain deliveries to other regions," it said in a statement.
Deliveries of its 12Cilindri family of cars, the Purosangue and the SF90 XX family increased during the quarter; shipments of the F80 supercar ramped up; and the 296 Speciale family, the Amalfi and 849 Testarossa started shipping to customers. At the same time, deliveries of the 296 family and Roma Spider decreased as they begin to be phased out.
While it has previously announced it will scale back its electric-vehicle ambitions to focus on a greater share of combustion-engine models in the coming years, Ferrari is set to premiere the Luce later this month, its first fully-electric car.
In Ferrari's largest regional market--Europe, the Middle East and Africa--shipments fell 14% in the quarter on year. However, shipments rose in all of its other regions, including a 7.6% rise in mainland China, Hong Kong and Taiwan, and a 9.5% rise in the rest of the Asia-Pacific. Shipments in the Americas increased by 0.8%, or 8 cars.
The company still expects revenue and earnings to rise this year, supported by its lineup of higher-margin luxury sports models and demand for customized vehicles.
Ferrari expects to report full-year revenue of around 7.5 billion euros this year, with adjusted EBIT of at least 2.22 billion euros and a margin of at least 29.5%.
Adjusted earnings before interest, taxes, depreciation and amortization is expected to reach at least 2.93 billion euros, with a margin of at least 39%.
The guidance is based on current visibility on the Middle East crisis effects, it added.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
May 05, 2026 08:19 ET (12:19 GMT)
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