Ferrari NV delivered stronger-than-expected third-quarter results on Tuesday, helping lift shares after a difficult month for the Italian luxury automaker.
The company topped Wall Street’s earnings and revenue estimates as it continues to navigate tariff challenges in the US and investor skepticism following its electric vehicle reveal in October.
The Maranello-based supercar manufacturer reported earnings of €2.14 per share for the July–September period, above analysts’ expectations for €2.06, according to FactSet.
Revenue rose 7% year over year to €1.77 billion ($2.03 billion), exceeding estimates of €1.70 billion.
Net profit increased to €382 million ($439.5 million), up nearly 2% from the same period a year ago.
Ferrari sold 3,401 cars during the quarter, just 18 more than a year earlier.
Shipments to Europe, the Middle East, and Asia climbed 2%, while deliveries to the Americas fell 2%, weighed down by new US tariffs on European imports.
“In America the business proceeds as usual… The only modification is the price increase, because of the new lower tariff that became official,” CEO Benedetto Vigna told Barron’s.
Prices for Ferrari vehicles in the US have increased by up to 5%, Vigna added, due to the imposition of a 15% levy on European Union goods.
The company had previously anticipated raising prices by 10% when the White House was considering a 25% tariff.
Outlook remains intact amid market headwinds
Ferrari reaffirmed its full-year guidance, projecting adjusted earnings of €8.80 per share on revenue of €7.1 billion.
The automaker cited a strong product mix, increased vehicle personalization, and lower-than-expected industrial costs as drivers supporting its outlook.
“We continue to advance with conviction and strong visibility on our development path,” Vigna said in a statement.
“At our Capital Markets Day, we defined a clear trajectory in the long-term interests of our brand, setting the floor for sustainable growth toward 2030.”
The latest results mark a bright spot for Ferrari after a turbulent few weeks.
The company’s Oct. 9 Capital Markets Day, intended to showcase the chassis of its upcoming all-electric model, the Ferrari Elettrica, instead triggered a sharp selloff.
Investors reacted negatively to what they viewed as soft long-term guidance, sending Ferrari’s stock down 16% in its steepest one-day decline since going public in 2015.
Analyst reactions and market movement
Following the earnings release, Ferrari’s US-listed shares rose 2.89% to $403.38 on Tuesday, outperforming the broader market as the S&P 500 fell 0.58%.
Analysts said the strong quarterly performance could help restore investor confidence after the post–Capital Markets Day pullback.
“We expect 2025 consensus numbers to move higher, especially considering the fact that the 2025 guide is a floor,” said RBC analyst Tom Naryan.
He rates Ferrari’s Milan-listed stock “Outperform” with a price target of €460, implying potential upside of around 35%.
“Shares should be up on the strong Q3 numbers, and given Ferrari’s recent post-CMD pullback,” Naryan added.
Despite the recent volatility, Ferrari continues to demonstrate resilience in a challenging luxury auto market.
The company’s ability to maintain margins and reaffirm its guidance amid macroeconomic headwinds and shifting investor sentiment suggests that Ferrari’s strategy remains firmly on track for the long term.
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