Ferrari (RACE IM) Q4 (EUR) EPS 2.14 (exp. 2.05), Revenue 1.80bln (exp. 1.7bln); guides initial FY26 EPS "more than" 9.45 (exp. 9.55), Revenue approx. 7.50bln (exp. 7.53bln)

• Revenue 7.15bln (exp. 7.12bln)

• "Demand for Ferrari remains very solid and is managed with discipline in every market reflecting our exclusivity model: our order book extends towards the end of 2027. We remain true to our identity: forward-looking and defined by our will to progress". 

Ferrari's Q4 performance exceeded expectations with both EPS and revenue providing a solid beat, indicating strong demand and financial health. However, their FY26 guidance slightly underperformed expectations, which could reflect conservative management despite a robust order book into 2027. Overall, this report suggests confidence in future growth, but the slight underperformance in guidance may temper market enthusiasm.