Luxury sports car manufacturer Ferrari has significantly increased its full-year profit forecast following a robust second quarter that surpassed market expectations. The company now anticipates an earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least €2.97 billion (approximately $3.41 billion), up from its previous minimum guidance of €2.93 billion. This optimistic revision is largely attributed to strong sales of higher-margin models, including the limited edition F80 supercar priced at €3.6 million, and a growing trend among buyers for extensive personalization of their vehicles.
In the second quarter, Ferrari's adjusted EBITDA surged by 7% year-on-year to €755 million, outperforming analysts' consensus of €729 million in a Reuters survey. Revenue also saw an 8.4% increase to €1.94 billion, exceeding Bloomberg's analyst consensus of €1.87 billion. The company's CEO, Benedetto Vigna, highlighted that a sustained trend in personalization services is a key factor enabling the upgraded forecast, reinforcing that the company's order book is now fully covered through 2027.
A notable success story is the Ferrari Luce, the company's new €550,000 electric vehicle. Despite initial mixed reactions to its design and electric powertrain, the Luce has already achieved its sales target of just under 500 units for 2026, driven by strong demand, particularly from China. This goal was met only a few weeks after its late May unveiling, with the company aiming for a long-term target of 2,500 Luces by 2030, or about 600 units annually. This early success indicates a strong reception in target markets, especially among wealthy buyers in tech hubs.
Ferrari also introduced the 12Cilindri Manuale in the second quarter, a 12-cylinder model with a manual transmission designed to appeal to its most traditional clientele. The company's stock price, listed in Milan, erased earlier losses and rose by 1.6% following the release of these positive financial results. Analysts project a full-year 2026 adjusted EPS of at least €9.68, compared to a FactSet estimate of €9.63, underscoring the positive market sentiment surrounding Ferrari's performance and strategic direction.
