Who needs high-volume manufacturing when you can just charge the price of a small suburban home for custom stitching and bespoke paint? Ferrari has once again proven that basic laws of supply and demand are merely optional suggestions for the Prancing Horse.
In the third quarter of 2026, Ferrari managed to deliver slightly fewer supercars, handing over 3,368 keys compared to 3,401 in Q3 2025, yet somehow watched its net profit climb a cool 13% to €431 million. Diluted earnings per share comfortably reached €2.44, proving that selling fewer cars for absurd amounts of money remains the most lucrative business model on Earth.
Between July and September, total revenues surged 7% to €1.896 billion, up from €1.766 billion in the same period last year. Had foreign exchange rates not rained slightly on the parade, revenue growth would have hit a staggering 10%.
Heavy lifting came courtesy of the flagship F80 hypercar and an insatiable buyer appetite for lucrative options across the 296 Speciale family. Operating profit (EBIT) jumped 12% to €563 million with an enviable 29.7% margin, while EBITDA also rose 12% to €753 million, bringing margins up to 39.7%. At constant exchange rates, EBIT growth actually skyrocketed by 23%.
The real showstopper, however, was industrial free cash flow, which erupted by 43% to reach €567 million. That operational windfall flipped a €131 million net industrial debt position in June into a healthy €219 million positive cash balance by September 30. Naturally, CEO Benedetto Vigna and team used these stellar numbers to raise their full-year 2026 financial guidance.
For the first nine months of 2026, revenues hit €5.682 billion, pushing full-year projections toward €7.65 billion. Adjusted EBITDA is now expected to cross at least €3 billion (a 39.2% margin), while adjusted EBIT should hit at least €2.285 billion. With adjusted diluted EPS targeted at a minimum of €9.85 and industrial free cash flow projected to reach €1.65 billion, Ferrari’s golden goose is building a vault.