Ferrari Confirms Guidance as Deliveries Top Estimates — Update

By Dominic Chopping

Ferrari backed its full-year guidance after it delivered more vehicles than expected in the third quarter, as weakness in Americas and China was offset by higher shipments elsewhere.

Share were 3.4% higher in European afternoon trade, outperforming the wider auto sector that was lower on the day.

The Italian sports-car maker said its model lineup, which includes a greater share of more profitable cars, and increased customization requests helped boost revenue in the quarter. However, U.S. import tariffs held back profitability.

The Ferrari Roma Spider, 296 GTS and Purosangue drove deliveries, while the 12Cilindri continued its ramp-up phase and the SF90 XX family of cars increased their contribution.

That was enough to counter the SF90 Spider being phased out and lower shipments of the Daytona SP3 as it completed its limited run.

Around 57% of all the cars delivered were powered by internal combustion engines while the remaining had hybrid engines, it said.

Ferrari recently unveiled details of its first fully-electric car--at the same time as it scaled back it electric-vehicle ambitions to focus on a greater share of combustion engine models in the coming years.

"We continue to advance with conviction and strong visibility on our development path," Chief Executive Benedetto Vigna said. "On the product front, we continue to provide our clients with maximum freedom of choice in terms of powertrain."

In Ferrari's two largest regional markets shipments were mixed: deliveries were up 1.6% in Europe, the Middle East and Africa, but fell 2.3% in the Americas. Meanwhile, shipments dropped 12% in mainland China, Hong Kong and Taiwan while the rest of the Asia-Pacific region recorded an 8.7% rise.

Ferrari reported net profit of 382 million euros ($440 million) in the three-month period, up from 375 million euros in the same quarter last year. Net revenue rose 7.4% to 1.77 billion euros and it shipped 3,401 vehicles to customers, 18 more than a year earlier.

Analysts polled by FactSet had forecast 1.7 billion euros in net revenue, with shipments at 3,376 units.

The company last month raised full-year guidance and outlined new longer-term financial targets at an investor event. It maintained those targets Tuesday, expecting revenue of more than 7 billion euros, adjusted earnings before interest, taxes, depreciation and amortization of at least 2.72 billion euros and adjusted earnings before interest and taxes of at least 2.06 billion euros for this year.

The adjusted Ebitda margin is still seen hitting at least 38.3%, with an adjusted EBIT margin of at least 29%.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 04, 2025 08:18 ET (13:18 GMT)