Ferrari (NYSE:RACE) reported third-quarter earnings that beat expectations, buoyed by higher prices and strong demand for customized and hybrid vehicles, even as weaker China sales and US tariff concerns lingered.
Revenue rose 7% to €1.77 billion, surpassing analyst estimates of €1.71 billion, while EBIT increased 8% to €503 million.
Net profit climbed 2% to €382 million, with adjusted EPS of €2.14 versus a consensus of €2.09.
Deliveries were broadly flat at 3,401 units, slightly above forecasts, with hybrids making up 43% of shipments.
Regionally, EMEA deliveries rose 2%, the Americas fell 2%, China/Hong Kong/Taiwan dropped 12%, and the rest of APAC grew 9%. Ferrari’s car and spare parts segment led revenue growth, while sponsorship and brand revenue surged 21% year-on-year.
The automaker raised its full-year guidance, projecting revenue of at least €7.1 billion, EBIT above €2.06 billion, and industrial free cash flow exceeding €1.3 billion. Ferrari also unveiled its new 849 Testarossa and Testarossa Spider hybrid plug-ins and showcased its first full-electric chassis at its new e-Vortex test circuit.
CEO Benedetto Vigna said the company’s electric strategy, embodied in the Ferrari Elettrica, will “drive innovation” in the coming years.
Shares were up 3.5% in early trading Tuesday.