Ferrari nudges up full-year forecasts after beating consensus in Q3

The Italian luxury sports car maker guided for its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to rise to at least €3 billion ($3.36 billion) in 2026, versus a previous forecast for a result of at least €2.97 billion.

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The company said the forecast upgrade was based on stronger-than-expected personalisations - hose touches customers request at extra cost to make their cars better suited to their individual tastes - ofter currency headwinds and Ferrari's current second place in the Formula 1 Championship.

"Our order book now reaches into 2028, and we still have two more launches to come this year," Chief Executive Benedetto Vigna said in a statement.

Milan-listed shares in the company turned positive after initially extending losses when results were published. By 1210 GMT they were up 0.7%.

CORE INCOME RISES 12% IN Q3, CAR SHIPMENTS KEEP FALLING

In the third quarter, Ferrari's adjusted EBITDA rose 12% to €753 million, topping a €739 million analyst consensus in a Reuters poll.

Sales of the €3.6 million limited-edition F80 supercar improved Ferrari's product mix in the third quarter and its result in the period, the company said, despite another drop in overall car shipments.

In the July-September period Ferrari shipped 3,368 vehicles, 33 fewer than in the same period of last year.