Ferrari’s new sports cars, electric debut lift 2026 forecast

By Giulio Piovaccari

MILAN, Feb 10 (Reuters) – Ferrari forecast 2026 core earnings growth of at least 6% on the back of last year’s five new model launches and its forthcoming electric car debut, driving its shares as much as 11% higher on Tuesday after exceeding fourth quarter expectations.

Milan-listed Ferrari will launch a further five new models this year, including the Luce EV in May. While pre-orders for the new EV will only open next month, Ferrari CEO Benedetto Vigna said feedback from clients was “very positive”.

Ferrari’s order book extends towards the end of 2027, Vigna said, adding that the 240,000 euro ($285,648) Amalfi and the 460.000 euro 849 Testarossa models were leading the order intake.

“Demand for Ferrari remains very solid and is managed with discipline in every market reflecting our exclusivity model,” the CEO said.

Shipments were down 112 to 13,640 cars last year in what the Italian luxury sports car maker said was a strategy “to ease the significant model change-over, that will continue in 2026”.

CORE PROFIT TO RISE

Ferrari forecast adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of more than 2.93 billion euros in 2026, versus 2.77 billion euros in 2025, when it also generated cash from industrial activities for over 1.5 billion euros, up 50% year-on-year.

Analysts at JP Morgan said Ferrari had an “all in all strong end of the year” beating earnings expectations and had provided full-year 2026 guidance “moderately” exceeding consensus.

In the fourth quarter, adjusted EBITDA rose 9% to 700 million euros, topping a 668 million euro analyst consensus forecast from a Reuters poll.

Ferrari shares were up 9% at 1545 GMT.

SHARE PRICE REBOUND

Before Tuesday’s bounce, Ferrari shares had lost almost a third of their value since early October when it unveiled a new business plan which some analysts and investors saw as too conservative given its valuation. It also marked a shift towards a less ambitious electrification strategy.

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 = 0.8402 euros)

(Reporting by Giulio Piovaccari, editing by Alvise Armellini, Louise Heavens and Alexander Smith)