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RACEBullishEarningsShort Term

High materiality8/10

PERSONALIZATIONS AND MIX CONTINUE TO DRIVE STRONG RESULTS AND 2026 GUIDANCE RAISE

StockNews.AIJul 30, 6:58 AM EDT2 sources

Trading thesisImportance 8/10

Bullish on RACE in the near term as raised guidance and strong FCF drive potential multiple expansion.

AI summary

What happened and why it matters

Ferrari reported a strong Q2 2026 with €1,938m in net revenues, €605m EBIT (31.2% margin), and €463m net profit (€2.62 per diluted share). The company raised 2026 guidance on higher personalization and improved FX headwinds, supported by a robust product mix, racing and lifestyle revenue growth, and an order book covering 2027. These dynamics suggest continued margin strength and cash flow resilience for RACE in the near term.

Guidance for 2026 raised; net revenues ~€7.60b and adj. EBITDA margin ≥39%.
Order book fully covers 2027; ongoing model change-over supports mix and pricing power.
Racing and lifestyle revenues uplift; FX headwinds moderating.
Dividend €599m and buybacks €209m in 2026 reinforce capital returns.

Sentiment rationale

The quarter delivered solid top-line growth, higher margins, and a raised full-year outlook, all of which tend to support near-term stock upside and potential multiple expansion, especially for a luxury/high-end brand like Ferrari with strong FCF and shareholder returns.

Key facts

01
Q2 2026 net revenues €1,938m; up 8% YoY, 11% cc.
02
EBIT €605m; EBIT margin 31.2%, up 10% YoY (16% cc).
03
Net profit €463m; diluted EPS €2.62; EBITDA €755m.
04
2026 guidance raised: net revenues ~€7.60b; adj EBITDA margin ≥39%.
05
Industrial FCF €276m; net debt €131m as of Jun 30, 2026.

Earnings

Category: Earnings. The release centers on quarterly results and updated full-year guidance, with margin expansion, cash flow strength, and a robust product/racing ecosystem driving the investment thesis for Ferrari (RACE). This fits an earnings-driven category with a constructive outlook for 2026.