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Ferrari tops Wall Street’s first-quarter expectations ahead of EV debut

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Ferrari tops Wall Street’s first-quarter expectations ahead of EV debut


Ferrari technicians inspect supercars on the production line inside the company’s factory in Maranello, Italy, October 2, 2025. REUTERS/Remo Casilli/File Photo

Remo Casilli | Reuters

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 company performed in the first quarter compared with average estimates compiled by LSEG:

  • Earnings per share: 2.33 euros (US $2.72) adjusted vs. 2.27 euros expected
  • 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 profit 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 profit 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.

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

The company said 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.”

Ferrari’s results come weeks before the scheduled debut of the Luce, its first fully electric vehicle, on May 25.

“With only twenty days to the world 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 people. It is the evidence of how tradition and innovation can come together to create something unique,” Ferrari CEO Benedetto Vigna said in a statement Tuesday.

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Spirit starts monthslong process of dismantling airline after biggest collapse in a generation

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Spirit starts monthslong process of dismantling airline after biggest collapse in a generation


Spirit Airlines‘ more than three-decade run ended over the weekend, but on Tuesday it was just starting the monthslong process of dismantling the company after the biggest U.S. airline collapse in a generation.

Spirit and its stakeholders were in bankruptcy court in White Plains, New York, to start that process, which will take months. The hearing included discussions about airport landing fees, aircraft and staffing.

The carrier filed a cumulative wind-down budget of around $217 million, though that number could change.

The budget went out to February 2028. It included more than $52 million in employee costs through July and another more than $52 million for aircraft-related expenses.

The airline had 59 Airbus A320s in service and 63 in storage, as well as 37 of the larger A321s in service, and 13 of them in storage, according to aviation data firm Cirium. More than three-quarters of its fleet was leased.

Spirit shut down operations after years of struggles, most recently from heavy debt loads and a surge in costs.

Spirit’s lawyer, Marshall Huebner of Davis Polk, told a bankruptcy court on Tuesday that the jump in jet fuel prices following the U.S.-Israel attacks on Iran in February left the carrier with no choice but to shut down. That added $100 million in incremental costs for Spirit in March and April, he said.

U.S. bankruptcy court in White Plains, N.Y.

Leslie Josephs/CNBC

Talks for a potential government bailout in the form of a $500 million loan that could have given the government an up to 90% stake in Spirit fell apart late last week, and the carrier officially shut down at 3 a.m. ET on Saturday.

Spirit passengers scrambled to rebook reservations. American Airlines, JetBlue Airways, Southwest Airlines, United Airlines and others said they have flown tens of thousands of Spirit customers who were stranded by the collapse.

Spirit had flown about 50,000 people in the day leading up to its closure. The airline said about 17,000 direct and indirect employees lost their jobs.

“The closing of Spirit Airlines is a sad and unfortunate event that adversely affects many parties, and that’s particularly true for the thousands of folks who are Spirit employees and families who depend on them,” the presiding judge, Sean Lane, said at Tuesday’s hearing.

“The stress level for these employees and affinities is very high, and they likely have many questions,” he continued. “Hopefully there’ll be some information discussed today to provide some answers to some of those questions, or provides information about where to get those answers. Bankruptcy can be a very difficult process, and today is a sad example of that.”

Read more about Spirit Airlines’ recent challenges

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Lidl’s loyalty card becomes less generous, shoppers say

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Lidl’s loyalty card becomes less generous, shoppers say



Under the changed system customers collect points rather than reward coupons, with £1 spent equalling one point.



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UK government long-term borrowing costs reach 28-year high

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UK government long-term borrowing costs reach 28-year high



There have been extra jitters in UK government debt markets ahead of Thursday’s local and national elections.



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