Ferrari raises 2026 guidance after Q2 earnings beat

Ferrari is bumping up its 2026 guidance after beating Wall Street's second-quarter expectations amid healthy demand for the famed Italian sports car brand's products. Here's how the company performed in the second quarter compared with average estimates compiled by LSEG: - Earnings per share: 2.62 euros ($2.97) adjusted vs. 2.50 euros expected - Revenue: 1.94 billion euros vs. 1.88 billion euros expected The automaker's new 2026 guidance includes revenue of roughly 7.6 billion euros, up from 7.5 billion euros; adjusted earnings of 2.97 billion euros, up from 2.93 billion euros; as well as slight increases to its industrial free cash flow and adjusted earnings and operating profit. Ferrari CEO Benedetto Vigna attributed the company's second-quarter results and guidance increase to a "sustained trend in personalizations" as well as resilient demand for its vehicles, with its order book full through 2027. RBC Capital Markets analyst Tom Narayan noted that the timing of the guidance raise is important for investors: "Ferrari rarely raises its guide in Q2, favoring instead to do so in Q3, and as such we view this a positive indicator for the remainder of the year and would expect shares to move higher." Shares of the company were up roughly 2% during premarket trading Thursday. Ferrari's second-quarter results included an operating profit of 605 million euros, or 31.2% margin, and a net profit of 463 million euros, up roughly 9% from a year earlier. This is breaking news. Please check back for additional details.