Ferrari Q1 Earnings Beat Expectations; First EV, Luce, to Debut Globally on May 25

Ferrari released its first-quarter financial results on May 6, 2026, reporting revenue of €1.79 billion, an increase of over 3% year-over-year. Operating profit and adjusted earnings per share rose by 1.1% and 4.2% respectively compared to the same period last year, both exceeding market expectations. Although vehicle deliveries declined by 4.4% year-over-year to 3,436 units, the company stated this was a deliberate adjustment to ease production pressures associated with model transitions. Ferrari noted that recent Middle East conflicts have not impacted overall deliveries, as it has flexibly reallocated regional allocations to shift some originally scheduled deliveries to other markets. The company reaffirmed its full-year 2026 guidance: net revenues of €7.5 billion, adjusted operating profit of at least €2.22 billion, adjusted earnings per share of €9.45, and industrial free cash flow of no less than €1.5 billion. Its first all-electric model, the Luce, is set for its global debut on May 25. CEO Benedetto Vigna said that all slots for the launch event are fully booked—and even oversubscribed—but declined to disclose specific order volumes or sales forecasts. He emphasized that the Luce aims to appeal to both existing customers and new users, adding, “The customer is the ultimate judge.” Following the earnings release, Ferrari’s share price remained essentially flat.