Ferrari nudges up full-year forecasts after beating consensus in Q3

Ferrari on Tuesday raised forecasts for this year's results marginally after beating consensus on core profit and revenue in the third quarter, helped by sales of higher-margin vehicles and contributions from the lucrative finishing touches added to its cars.

The Italian luxury sports car maker guided for its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to rise to at least €3 billion ($3.36 billion) in 2026, versus a previous forecast for a result of at least €2.97 billion.

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The company said the forecast upgrade was based on stronger-than-expected personalisations - hose touches customers request at extra cost to make their cars better suited to their individual tastes - ofter currency headwinds and Ferrari's current second place in the Formula 1 Championship.

"Our order book now reaches into 2028, and we still have two more launches to come this year," Chief Executive Benedetto Vigna said in a statement.

Milan-listed shares in the company turned positive after initially extending losses when results were published. By 1210 GMT they were up 0.7%.

CORE INCOME RISES 12% IN Q3, CAR SHIPMENTS KEEP FALLING

In the third quarter, Ferrari's adjusted EBITDA rose 12% to €753 million, topping a €739 million analyst consensus in a Reuters poll.

Sales of the €3.6 million limited-edition F80 supercar improved Ferrari's product mix in the third quarter and its result in the period, the company said, despite another drop in overall car shipments.

In the July-September period Ferrari shipped 3,368 vehicles, 33 fewer than in the same period of last year.