Ferrari $RACE raised its full-year guidance on Thursday after second-quarter revenue and earnings came in above analyst expectations. The company now projects 2026 revenue of roughly €7.6 billion, up from its prior target of €7.5 billion.
The automaker posted second-quarter revenue of €1.94 billion, up 8% from a year earlier. Adjusted earnings per share came in at €2.62. The results cleared the consensus estimates of €1.88 billion in revenue and €2.50 in adjusted EPS, according to CNBC.
Along with the revenue increase, Ferrari set a new adjusted diluted EPS floor of €9.68, compared with the prior minimum of €9.45, and pushed its adjusted EBITDA target up to €2.97 billion from €2.93 billion. Industrial free cash flow guidance moved up as well, to a minimum of €1.55 billion versus the previous floor of €1.50 billion.
Operating profit for the quarter came to €605 million, translating to a 31.2% operating margin, and net profit climbed to €463 million, a 9% year-over-year gain. Revenue from cars and spare parts totaled €1.63 billion, up 8%, driven by a richer product mix and higher personalizations, the company said. Sponsorship, commercial, and brand revenues reached €209 million. Ferrari noted that foreign exchange movements, primarily from the U.S. dollar and Japanese yen, had a negative effect on results.
Ferrari CEO Benedetto Vigna attributed the results to demand trends and the company's approach to customization. "A sustained trend in personalizations allows us to raise the guidance for the year," Vigna said in a statement. The company's order book extends through all of 2027.
Ferrari delivered 3,366 vehicles during the quarter, which reflected planned changes in its model lineup. Sales increased for the 12Cilindri, 12Cilindri Spider, Purosangue, and 296 Speciale, while deliveries of the 296 GTS, Roma Spider, and SF90 XX family declined as those models were phased out. The Amalfi and 849 Testarossa continued to ramp up, and the F80 shipped as planned.
Ferrari stock was up roughly 2% in premarket trading on Thursday.
The quarterly results come after Ferrari unveiled its debut fully electric model, the Luce, earlier this year, an event that sent Ferrari stock down as much as 7.8% in Milan amid skepticism about the car's design. Ferrari has said it will continue offering combustion, hybrid, and fully electric powertrains. The company's first-quarter results also beat analyst expectations, with revenue of €1.85 billion.