EarningsQ2 2026 Earnings Report
DE:2FE Q2 2026 EPS Results
Actual EPS€2.62
Consensus EPS€2.50
Beat/MissBeat by +€0.12
One Year Ago EPS€2.38
DE:2FE Q2 2026 Revenue Results
Actual Revenue€1.94B
Expected Revenue€1.87B
Beat/MissBeat by +€64.74M
YoY Revenue Growth+8.40%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
DE:2FE Upcoming Earnings
Ferrari's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:2FE Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a generally positive picture: strong top-line growth (11% CC / 8% reported), high profitability (EBIT margin 31.2%), robust free cash flow and a strengthened product portfolio highlighted by successful launches (Ferrari Luce, 12Cilindri Manuale). Personalization trends materially beat expectations (~20% of cars & spare parts revenues), supporting an upward guidance revision. Headwinds include model changeover-driven volume phasing, higher SG&A/R&D/D&A in H2, a working capital build, regional shipment softness in the Americas and medium-term FX uncertainty beyond the current hedges. On balance, the highlights—especially demand, pricing/personalization and product innovation—outweigh the lowlights.Company Guidance
Strong Quarterly Financials
Q2 revenues of EUR 1.94 billion, EBITDA of EUR 755 million and industrial free cash flow of EUR 275 million; net revenues grew 11% at constant currency and 8% reported year-over-year.
High Profitability Metrics
EBIT margin at 31.2% (slightly up vs. prior year) and EBITDA margin at 39% (slightly down, influenced by Formula 1 ranking assumptions), demonstrating robust margin levels despite model changeover and FX headwinds.
Personalization Outperformance
Personalizations accounted for about 20% of cars and spare parts revenues (higher than expected), materially contributing to mix and ASP upside and supporting the decision to raise full-year guidance.
Order Book and Demand Visibility
Management reports a healthy demand outlook with an order book that covers the entire 2027 production year; several families (including 296 Speciale and 12Cilindri) are already sold out for their runs.
Product Innovation and Portfolio Diversification
Launches in Q2 included the Ferrari Luce (first electric Ferrari, >60 new patents) and the 12Cilindri Manuale (limited series of 1,499 units). Company now offers ICE, hybrid and electric powertrains, citing two more model unveilings planned by year-end.
Improved Guidance and FX/Hedge Positioning
Full-year guidance was raised driven by stronger personalization trends and a more favorable FX environment; H2 planning assumes USD/EUR ~1.16 and about 80% of FX exposure hedged for H2.
Capital Allocation and Balance Sheet Strength
Net industrial debt stood at EUR 131 million after dividend payments and share buybacks; buyback activity reducing share count supports EPS progression.
Brand & Experience Momentum
Successful lifestyle activations and racing progress (events like Le Mans, Goodwood, Cavalcade) reinforced client engagement and brand desirability, aiding repeat orders and client loyalty.
DE:2FE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed