Ferrari on Tuesday beat Wall Street’s first-quarter earnings expectations and reconfirmed its guidance for the year.

The sports car manufacturer reported adjusted EPS of 2.33 euros and revenue of 1.85 billion euros ($2.16 billion) during the first quarter.

Ferrari’s results come weeks before the scheduled debut of the Luce, its first fully electric vehicle, on May 25. Furthermore, experts in earnings report note the continued relevance.

DETROIT — Ferrari on Tuesday beat Wall Street’s first-quarter earnings expectations and reconfirmed its guidance for the year, weeks ahead of the sports car maker revealing its first all-electric vehicle.

Here’s how the enterprise performed in the first quarter compared with average estimates compiled by LSEG:

Revenue: 1.85 billion euros vs. 1.81 billion euros expected

Ferrari’s revenue was up more than 3% compared with 1.79 billion euros during the first quarter of 2025, while its operating income and adjusted earnings increased 1.1% and 4.2% year-over-year, respectively.

The company’s 2026 guidance includes 7.5 billion euros in net revenues and an adjusted operating earnings of at least 2.22 billion euros, or 9.45 euros adjusted EPS. Its industrial free cash flow is targeted at 1.5 billion euros or more for the year. This also touches on aspects of bull market.

Those results were despite deliveries being down 4.4% year-over-year to 3,436 units, as the sports car maker mentioned it slowed production to “ease the execution of the planned model change-over.”

The enterprise commented deliveries “were not impacted by the surge of hostilities in the Middle East, as Ferrari leveraged its geographical allocation flexibility, bringing forward certain deliveries to other regions.”

“With only twenty days to the international community premiere of the Ferrari Luce, the sense of anticipation has never been so high. The Ferrari Luce brings together so much extraordinary technologies and the passion of so many citizens. It is the evidence of how tradition and innovation can come together to create something unique,” Ferrari CEO Benedetto Vigna mentioned in a statement Tuesday.

Vigna on a call with media Tuesday declined to disclose order details or expectations for the Luce other than saying that the debut event is “fully booked, actually overbooked.” He stated Ferrari expects to attract current and fresh owners with the company’s first EV.

“So clearly there are expectations from everyone. We are very pleased. I think we did a superb job, but at the end of the story, the client is the supreme judge,” he mentioned on the call.

Initial analyst reactions were positive on Ferrari’s beat and the confirmed guidance for 2026. Ferrari stock was roughly flat following the results.