The earnings call highlighted significant revenue growth, strong cash flow, and a robust order book extending into 2027. The launch of new models and sustainability achievements were positive aspects. However, challenges such as U.S. import tariffs, FX headwinds, and lower deliveries due to model phaseouts were noted. The positive aspects overall outweighed the negatives.

Company Guidance

During the Ferrari Q3 2025 Results Conference Call, CEO Benedetto Vigna outlined the company's ambitious plans for the end of the decade, targeting EUR 9 billion in revenues, a 40% EBITDA margin, and a 30% EBIT margin. The company aims to maintain a diverse powertrain mix by 2030, with 40% ICE, 40% hybrid, and 20% electric vehicles, adjusting from previous expectations due to market dynamics and client preferences. In Q3 2025, Ferrari recorded total revenues of approximately EUR 1.8 billion, a 7.4% year-over-year growth, with EBIT exceeding EUR 500 million and an industrial free cash flow of EUR 365 million. This strong performance led to an upward revision of the 2025 guidance. The company also highlighted progress in decarbonization, achieving significant reductions in Scope 1, 2, and 3 emissions. Looking forward, Ferrari plans to continue innovating and expanding its model lineup, with a focus on maintaining exclusivity and enhancing client experiences.

Record Revenue Growth

Total revenues reached approximately EUR 1.8 billion, a 7.4% growth year-over-year, with strong profitability including EBIT of over EUR 500 million.

Strong Cash Flow and Upward Guidance

Industrial free cash flow stood at EUR 365 million, leading to an upward revision of 2025 guidance, exceeding profitability targets set for 2026 a year in advance.

Order Book and Launch Success

Order book extends well into 2027, with new launches like the Ferrari Elettrica and 849 Testarossa contributing to high demand and customer interest.

Sustainability Achievements

Ferrari has achieved approximately 30% reduction in Scope 1 and Scope 2 emissions, and approximately 10% reduction per car in Scope 3 emissions in 2024 versus 2021.

Personalization and Product Mix Impact

Personalizations accounted for approximately 20% of total revenues from cars and spare parts, contributing significantly to revenue growth.

Ferrari (RACE) Earnings, Revenues Date & History

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RACE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 29, 2026	2025 (Q4)	2.54 / -	2.473	―	―	―
Nov 04, 2025	2025 (Q3)	2.38 / 2.47	2.404	2.88% (+0.07)
Jul 31, 2025	2025 (Q2)	2.75 / 2.75	2.647	3.93% (+0.10)
May 06, 2025	2025 (Q1)	2.64 / 2.66	2.254	17.95% (+0.40)
Feb 04, 2025	2024 (Q4)	2.16 / 2.47	1.872	32.10% (+0.60)
Nov 05, 2024	2024 (Q3)	2.30 / 2.40	2.103	14.29% (+0.30)
Aug 01, 2024	2024 (Q2)	2.35 / 2.65	2.115	25.14% (+0.53)
May 07, 2024	2024 (Q1)	2.16 / 2.25	1.872	20.37% (+0.38)
Feb 01, 2024	2023 (Q4)	1.71 / 1.87	1.398	33.88% (+0.47)
Nov 02, 2023	2023 (Q3)	1.86 / 2.10	1.422	47.97% (+0.68)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

RACE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 04, 2025	$392.03	$399.39	+1.88%
Jul 31, 2025	$498.79	$443.39	-11.11%
May 06, 2025	$466.46	$474.14	+1.65%
Feb 04, 2025	$425.69	$455.82	+7.08%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.