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Ferrari Q3 2026 Results: Personalisation Lifts Profit as Deliveries Fall

Ferrari raised its 2026 forecast for the second time after third-quarter adjusted EBITDA rose 12 per cent to €753m, although it delivered 33 fewer cars than a year earlier. Clients paying for individual specifications and the €3.6m F80 made the difference, while shipments to mainland China, Hong Kong and Taiwan fell by 42 per cent.

Eva Winterer

Ferrari delivered fewer cars in the third quarter and earned more from each of them. Clients paying to have their cars built to their own specification made the difference. Adjusted EBITDA rose 12 per cent to €753m, above the €739m analysts had expected, and Ferrari raised its 2026 forecast for the second time this year. The results place the Maranello carmaker among the houses still growing in a weaker luxury market in 2026.

● In brief

The quarter. Net revenue rose 7 per cent to €1.90bn, or 10 per cent at constant exchange rates. Adjusted EBITDA reached €753m, against €670m a year earlier, with a margin of 39.7 per cent. Net profit rose 13 per cent to €431m.

Deliveries. Ferrari shipped 3,368 cars, compared with 3,401 a year earlier. Shipments to mainland China, Hong Kong and Taiwan fell to 143 from 248. All other regions grew slightly.

The forecast. Ferrari now expects 2026 revenue of about €7.65bn and adjusted EBITDA of at least €3bn, up from €7.6bn and €2.97bn.

The order book. Benedetto Vigna, the chief executive, said orders now reach into 2028. Two more launches are due before the end of the year. The 849 Testarossa Spider began deliveries, while the Roma Spider, 296 GTS and SF90 XX family were phased out.

Detail of the Ferrari CZ26, a one-off built by the Ferrari Design Studio with a client in the United States; personalisation lifted Ferrari’s Q3 results as deliveries fell.
The Ferrari CZ26, a one-off made with a single client. Personalisation lifted Ferrari’s profit in a quarter of fewer deliveries. Photo: Courtesy of Ferrari

● Why it matters

Ferrari’s growth now comes from what each client spends. Stronger demand for personalisation than the company had expected was the main reason it raised its forecast, led by the 296 Speciale family. That income offset currency headwinds and the higher costs of running second in Formula 1. The F80, a limited series priced at €3.6m, added to the mix.

The missing cars come from two regions. Shipments to mainland China, Hong Kong and Taiwan fell by 42 per cent in the quarter. Over nine months, deliveries there were 176 lower and in the Americas 193 lower. Ferrari points to the changeover of its range, as several models end before their successors reach clients.

At the far end of this business sits Special Projects, in which the Ferrari Design Studio builds a one-off car with a single client. The latest, the CZ26, was made with a client in the United States and presented in Monterey in August.

The next figures will show how long personalisation can sustain growth while unit sales stall. With orders into 2028 and two launches to come, the full-year results early next year will show whether China and the Americas return.

Header image of The Future of Luxury After Q3 2026: The Members' Club Era Continue · The reading The Future of Luxury After Q3 2026: The Members’ Club Era Luxury now grows through the clients who already belong: what the third-quarter results of LVMH, Hermès, Kering and Prada show. Read on →

Sources

  • Ferrari N.V., Strong mix and personalizations sustain Q3 growth and further 2026 guidance upgrade, results release, 3 November 2026: full release text
  • Reuters, Ferrari raises full-year outlook after stronger-than-expected Q3 results, 3 November 2026: reuters via timeslive.co.za
  • Ferrari Media Centre, Ferrari CZ26, 14 August 2026: ferrari.com