Ferrari N.V. ( RACE ) reported its Q4 2025 earnings , and, after months of decline, the stock is finally seeing a strong 10% move higher at the time of writing. Since October, Ferrari's shareholders have been tested in a way that has never happenedI’m a long-term investor focused on U.S. and European equities, with a dual emphasis on undervalued growth stocks and high-quality dividend growers. Through years of experience, I’ve learned that sustained profitability—evident in strong margins, stable and expand ...

Financial Data and Key Metrics Changes - In 2025, the company achieved revenues exceeding EUR 7.1 billion, with EBIT growing to over EUR 2.1 billion, marking a double-digit growth [10] - Industrial cash flow generation surpassed EUR 1.5 billion, reflecting a significant increase of approximately 50% compared to the previous year [22] - The EBITDA margin reached 38.8%, while the EBIT margin stood at 29.5%, indicating strengthened percentage margins despite external challenges [22] Business Line Data and Key Metrics Changes - The sports car segment saw an improved overall mix, contributing positively to revenue growth, despite the phase-out of the Daytona SP3 [17] - Revenues from racing increased due to new partnerships and enhanced sponsor contributions [17] - The lifestyle segment maintained a growth pace aligned with the company's development investments [17] Market Data and Key Metrics Changes - The company reported a solid order book extending towards the end of 2027, indicating strong demand dynamics [11] - Residual values remained stable and solid, supported by recent auction results [11] - The company noted a decline in deliveries to the U.S. market, attributed to model changeovers rather than demand weakness [73] Company Strategy and Development Direction - The company launched six new sports cars in 2025, including the Ferrari Luce, as part of its strategy for horizontal product diversification and technology neutrality [6] - Future plans include the complete introduction of the Ferrari Luce and the launch of four new models in 2026 [14] - The company aims to enhance client experiences through craftsmanship and quality, emphasizing a client-centric approach [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term opportunities despite ongoing global uncertainties [25] - The company anticipates 2026 to be a year of growth, with expectations for a stronger product mix and continued investment in brand development [15][24] - Management highlighted the importance of maintaining a disciplined approach in the current economic context [16] Other Important Information - The company completed its EUR 2 billion share buyback program one year ahead of schedule [18] - A competitive award of up to EUR 14,900 was announced for employees in Italy, reflecting the company's strong performance [10] Q&A Session Summary Question: Margin expectations for 2026 - Management indicated that operating margins are expected to be flat to up in the second half of 2026, with a stronger product mix anticipated [30] Question: Guidance for 2026 and cost offsets - Management expects mix and pricing to offset higher SG&A and industrial costs in 2026 [36] Question: Models driving the order book - The 296 Speciale and Testarossa models are significant contributors to the order book, with new clients attracted by the Amalfi model [41] Question: Impact of FX on bottom line - A headwind of about EUR 200 million is anticipated due to foreign exchange rates, primarily from the US dollar and Japanese yen [62] Question: R&D and government grants - R&D expenses are expected to remain stable, with additional government grants anticipated in future years [116] Question: Free cash flow expectations - Free cash flow is expected to be strong, with net working capital contributions being more neutral compared to 2025 [78]

Financial Data and Key Metrics Changes - In 2025, the company achieved revenues exceeding EUR 7.1 billion, with EBIT growing to over EUR 2.1 billion, marking a double-digit growth [10] - Industrial cash flow generation surpassed EUR 1.5 billion, reflecting a 50% increase compared to the previous year [22] - The EBITDA margin was reported at 38.8%, while the EBIT margin stood at 29.5%, indicating strengthened percentage margins despite external pressures [22] Business Line Data and Key Metrics Changes - The sports car segment saw an improved overall mix, contributing positively to revenue growth, despite the phase-out of the Daytona SP3 [17] - Revenues from racing increased due to new partnerships and enhanced sponsor contributions [17] - The lifestyle segment maintained a growth pace aligned with development investments, with successful client activations driving engagement [9][17] Market Data and Key Metrics Changes - The company reported a solid order book extending into late 2027, with stable residual values evidenced by strong auction results [11] - The Americas market experienced a decline in deliveries, attributed to model changeovers rather than demand weakness [73] Company Strategy and Development Direction - The company launched six new sports cars in 2025, including the Ferrari Luce, as part of a strategy focused on horizontal product diversification and technology neutrality [6] - Future plans include the complete introduction of the Ferrari Luce and the launch of four new models in 2026, alongside continued investment in brand and lifestyle retail networks [15][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term opportunities despite ongoing global uncertainties, emphasizing a disciplined approach to growth [16][25] - The company anticipates 2026 to be a year of growth, with expectations for a stronger product mix and continued support from sponsorships and lifestyle activities [24][25] Other Important Information - The company completed its EUR 2 billion share buyback program one year ahead of schedule, reflecting strong financial performance [18] - A competitive award of up to EUR 14,900 was announced for employees in Italy, aligning employee rewards with company performance [10] Q&A Session Summary Question: Margin expectations for 2026 - Management indicated that operating margins are expected to be flat to down in H1 2026, with an anticipated increase in the second half due to a stronger product mix [29][31] Question: 2026 guidance on mix and pricing - Management expects mix and pricing to offset higher SG&A and industrial costs in 2026 [35][36] Question: Models driving the order book - The 296 Speciale, Testarossa, and Amalfi models are currently driving the order book, with new clients attracted to the brand [40][41] Question: F80 shipments in Q4 - A few units of the F80 were shipped in Q4, with production ramping up as planned [51] Question: Foreign exchange impact on bottom line - The company anticipates a EUR 200 million headwind from foreign exchange rates in 2026, primarily due to the lack of hedging benefits compared to 2025 [62][90] Question: R&D and government grants - R&D expenses are expected to remain stable, with additional government grants anticipated in future years [116] Question: Residual values and dealer confidence - Residual values are reported as stable and solid, with strong dealer confidence in the brand [50][56]

Financial Data and Key Metrics Changes - In 2025, the company achieved revenues exceeding EUR 7.1 billion, with double-digit growth in EBIT reaching over EUR 2.1 billion and industrial cash flow generation surpassing EUR 1.5 billion [9][20][22] - The EBITDA margin was reported at 38.8% and EBIT margin at 29.5%, despite challenges from increased U.S. import duties and currency headwinds [20][22] - The industrial free cash flow generation increased by approximately 50% compared to the previous year [20] Business Line Data and Key Metrics Changes - The sports car segment saw an improved mix, contributing positively to revenue growth, despite the phase-out of the Daytona SP3 [15][17] - Revenues from racing increased due to new partnerships and improved sponsor contributions [15] - The lifestyle segment maintained a growth pace, supported by successful client activations and increased engagement [15] Market Data and Key Metrics Changes - The company reported a solid order book extending towards the end of 2027, indicating strong demand dynamics [10] - The residual values of vehicles remained stable, supported by strong auction valuations [10] Company Strategy and Development Direction - The company launched six new sports cars in 2025, including the Ferrari Luce, as part of its strategy for horizontal product diversification and technology neutrality [5][6] - Plans for 2026 include the complete introduction of the Ferrari Luce and the launch of four additional models, focusing on innovation and craftsmanship [10][12] - The company aims to enhance its lifestyle retail network with new flagship stores in London and New York [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's momentum and the ability to navigate persistent global uncertainties [10][14] - The company anticipates continued growth in 2026, with a focus on model changeovers and maintaining a strong product mix [22][24] - Management emphasized the importance of client centricity and the unique experience offered to customers [7][9] Other Important Information - The company successfully concluded its EUR 2 billion share buyback program one year ahead of schedule [16] - A competitive award of up to EUR 14,900 was announced for employees in Italy, reflecting the company's strong performance [9] Q&A Session Summary Question: Margin expectations for 2026 - Management indicated that operating margins are expected to be flat to up in the second half of 2026, with a stronger product mix anticipated [27][30] Question: 2026 guidance on mix and pricing - Management expects mix and pricing to offset higher SG&A and industrial costs in 2026 [34][35] Question: Models driving the order book - The 296 Speciale and Testarossa models are significant contributors to the order book, with new clients attracted by the Amalfi model [38][39] Question: Residual value trends - Residual values are stable and solid, with actions taken in the UK to stabilize values through reduced shipments [49][50] Question: FX impact on EBIT - A EUR 200 million headwind from foreign exchange is anticipated for 2026, primarily due to the lack of hedging benefits compared to 2025 [62][92] Question: R&D and CapEx expectations - R&D expenses are expected to remain stable, with CapEx anticipated to be slightly higher in 2026 [35][129]

. FY 2025 RESULTS MARANELLO, FEBRUARY 10, 2026 STRONG PERFORMANCE IN 2025 SETS THE FOUNDATION FOR CONTINUED GROWTH IN 2026 Revenues at ~€7.1B, EBIT(1) at ~€2.1B with +12% growth YoY and industrial free cash flow(1) generation above €1.5B Further enrichment of product line-up with 6 new models, among which the initial steps of reveal of the Ferrari Luce FORWARD LOOKING STATEMENT This document, and in particular the section entitled "2026 Guidance", contain forward-looking statements. These statements may inc ...

Core Viewpoint - Ferrari reported quarterly earnings of $2.49 per share, exceeding the Zacks Consensus Estimate of $2.44 per share, and showing an increase from $2.28 per share a year ago, indicating a positive earnings surprise of +2.05% [1] Financial Performance - The company achieved revenues of $2.1 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 3.66%, and up from $1.85 billion year-over-year [2] - Over the last four quarters, Ferrari has consistently surpassed consensus EPS estimates and revenue estimates [2] Stock Performance and Outlook - Ferrari shares have declined approximately 9.1% since the beginning of the year, contrasting with the S&P 500's gain of 1.7% [3] - The future performance of Ferrari's stock will largely depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $2.60 on revenues of $2.05 billion, and for the current fiscal year, it is $10.92 on revenues of $8.57 billion [7] - The estimate revisions trend for Ferrari was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Automotive - Original Equipment industry, to which Ferrari belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

Group 1 - The Italian supercar maker exceeded Wall Street's profit expectations [1] - The company provided strong margin guidance for the current year [1]

Ferrari said it expects revenue and earnings to rise this year, supported by its lineup of higher-margin luxury sports models and demand for customized vehicles. ...

Italian luxury carmaker Ferrari on Tuesday said its core earnings would rise slightly in 2026 supported by new models coming this year, and beat analyst estimates for the fourth quarter of 2025, sendi... ...

Core Insights - Ferrari reported strong financial performance in 2025, with revenues increasing by 7% to over Euro 7.1 billion, driven by a disciplined volume strategy and solid demand across markets [3][6] - The company achieved an EBIT margin of 29.5%, up 120 basis points from the previous year, and industrial free cash flow exceeded Euro 1.5 billion, reflecting effective management of product mix and personalization [3][6] Financial Performance - For Q4 2025, net revenues reached Euro 1,802 million, a 4% increase from Q4 2024, while shipments decreased by 173 units [4] - For the full year 2025, net profit was Euro 1,600 million, with diluted EPS at Euro 8.96, marking a 6% increase compared to 2024 [4][6] - EBITDA for 2025 was Euro 2,772 million, an 8% increase year-over-year, with an EBITDA margin of 38.8% [4][6] Future Outlook - The company has set a guidance for 2026, targeting approximately Euro 7.50 billion in revenues and an EBITDA margin of 39.0%, supported by a strong product mix [6]