Finance
Ferrari beats fourth-quarter estimates, sees core profit growing this year
Published by Global Banking & Finance Review®
Posted on February 10, 2026
2 min readLast updated: February 10, 2026
Quick Summary
Ferrari exceeded Q4 2025 expectations and forecasts core profit growth for 2026. Shares rose 8.9% on Milan stock exchange, driven by new models.
Ferrari Exceeds Q4 Expectations and Projects 6% Core Profit Growth
Ferrari's Financial Performance and Future Outlook
MILAN, Feb 10 (Reuters) - Ferrari on Tuesday forecast at least a 6% rise in core earnings in 2026, supported by new models, and posted fourth‑quarter 2025 results that beat analyst expectations, lifting its share price by 8%.
Fourth Quarter Financial Results
Chief Executive Benedetto Vigna said demand for Ferrari cars remained "very solid" and was being managed to protect the brand’s exclusivity in every market. "Our order book extends towards the end of 2027," he said.
Future Earnings Projections
Ferrari said it expected earnings before interest, taxes, depreciation and amortisation (EBITDA) of over 2.93 billion euros ($3.49 billion) in the full-year 2026, versus a 2.77-billion-euro result in 2025, broadly in line with company forecasts.
Shift Towards Electric Vehicles
Milan-listed shares rose as much as 10% after results were published. By 1255 GMT they were up 8.4%.
Ferrari said cash generation from industrial activities stood at more than 1.5 billion euros in 2025, up 50% year-on-year.
In the fourth quarter, adjusted EBITDA rose 9% to 700 million euros, topping a 668-million-euro analyst consensus from a Reuters poll. Net revenues grew 4% in the quarter, also exceeding analysts' expectations.
SHARE PRICE REBOUND
Before Tuesday's rebound, Ferrari shares had lost almost a third of their value since early October, when the company unveiled a new business plan which analysts and investors saw as too conservative compared to stock price valuations at that time.
Ferrari's plan set targets for revenues of approximately 9 billion euros and adjusted core profits of over 3.6 billion euros in 2030, while also marking a shift towards a less ambitious electrification strategy.
The Italian company, which on Monday released some teaser images of its first fully-electric car, called Luce, said it would present the eagerly awaited new model on May 25 in Rome.
The carmaker is now aiming to have 40% internal combustion engine models, 40% hybrids and 20% fully-electric cars in its 2030 lineup. In its previous business plan it targeted 40% EVs, 40% hybrids and 20% combustion engine models by 2030.
($1 = 0.8401 euros)
(Reporting by Giulio Piovaccari, editing by Alvise Armellini and Louise Heavens)
Key Takeaways
- •Ferrari exceeded Q4 2025 earnings expectations.
- •Core profit is projected to grow in 2026.
- •EBITDA expected to surpass 2.93 billion euros in 2026.
- •Shares rose 8.9% on Milan stock exchange post-announcement.
- •New models are expected to support future growth.
Frequently Asked Questions about Ferrari beats fourth-quarter estimates, sees core profit growing this year
1What is EBITDA?
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure used to analyze a company's operating performance.
2What are core earnings?
Core earnings refer to a company's profit derived from its regular business operations, excluding any income from non-recurring activities.
3What is market capitalisation?
Market capitalisation is the total market value of a company's outstanding shares, calculated by multiplying the share price by the total number of shares.
4What is a financial performance report?
A financial performance report summarizes a company's financial results, including revenues, expenses, and profits, over a specific period.
5What is a profit projection?
A profit projection is an estimate of a company's future profits based on historical data and expected future performance.