What will Ferrari say during their next earnings call?

Purosangue delivery delays indicate significant demand, but specific Q1 data is unavailable. Customer discussions highlight ongoing delivery delays for the Ferrari Purosangue in the US market, indicating a notable lead time for this model ^[1]. Online platforms like FerrariChat feature extensive discussions about "Purosangue delivery delays (US)," suggesting persistent high demand and extended customer waiting periods for the vehicle ^[1]. However, specific customer wait times or detailed data from Q1 2026 dealership checks, such as those at Ferrari of Beverly Hills or H.R. Owen in London, are not available in the provided research for this model ^[1].

Q1 2026 channel checks lack specific wait time data for all models. The available web research does not provide specific data points or statistics from Q1 2026 channel checks for either the Purosangue or the 296 GTB from premier dealerships ^[1]. Similarly, no specific data regarding wait times for the 296 GTB is available within the provided research ^[1]. Ferrari is anticipated to release its First Quarter 2026 financial results on May 5, 2026, at which time management commentary on the company's 'Backlog' is expected ^[2].

There have been no recent negative patent filings, supplier announcements, or reports from Ferrari's E-Cells Lab in Bologna or its key battery partner SK On that signal a delay or production issue specifically with its first electric vehicle. On the contrary, Ferrari and SK On announced a strengthened and expanded partnership to continue leading innovation in cell technology, signing a memorandum of understanding in March 2024 ^[1]. This collaboration is viewed as a positive development for future battery advancements.

Ferrari's E-Cells Lab focuses on long-term battery innovation and research. The E-Cells Lab, a collaboration with the University of Bologna and NXP, was inaugurated in April 2024 ^[4]. This facility is dedicated to electrochemical research, including next-generation technologies like solid-state cells, indicating a focus on long-term innovation rather than immediate production setbacks for the first EV ^[2]. While a delay has been reported, it specifically concerns Ferrari's second EV model, which has been pushed to at least 2028 due to "weak demand" rather than any battery-related production issues or challenges from SK On or the E-Cells Lab affecting the first EV ^[3].

Specific quarter-over-quarter growth for supercars is not explicitly available. Detailed quarter-over-quarter growth rates for imported supercars in the >2M RMB price bracket are not explicitly provided by the latest April 2026 data from the China Automobile Dealers Association (CADA) or other available auto market reports ^[1]. While the provided sources offer broader insights into the Chinese imported car market for early 2026, they do not offer the granular data required for this specific high-value segment.

Overall imported car sales show a significant decline. The broader market trend for imported vehicles in China during early 2026 indicates a challenging period, rather than robust growth for high-end imports. For instance, China's overall imported car sales registered a substantial decline of 18.3% in February 2026 ^[2]. Although this figure represents the general imported car market and does not isolate the supercar segment above 2 million RMB, it sets a broader negative trend for vehicle imports during the first quarter. CADA provided a market scan for April 7-12, 2026 ^[1], and separate reports detailed March 2026 imported car sales ^[3], but these focus on overall import volumes rather than granular breakdowns by specific high-value price brackets or supercar categories.

Data does not support a positive 'China' mention. Given the significant decline observed in overall imported car sales in February 2026 ^[2] and the absence of specific counter-evidence for strong growth within the niche imported supercar segment from the available CADA data or related auto market reports, the information does not support a positive 'China' mention. The prevailing trend for imported vehicles in early 2026 suggests a contraction, rather than an expansion that would warrant optimism regarding high-frequency luxury spending in this specific category.

Scuderia Ferrari's Q1 2026 financial results are not yet publicly available. These results, which are crucial for assessing Formula 1 as a material financial "Tailwind" post-Hamilton signing, particularly through specific sponsorship and licensing revenue, are anticipated. Ferrari N.V. is scheduled to release its first quarter 2026 financial results on May 5, 2026. These forthcoming results are expected to provide the detailed financial information necessary to evaluate the material financial impact of Formula 1 and any new partnerships ^[1].

Despite pending Q1 2026 data, Ferrari's 2025 performance was notably strong. This strong performance in the preceding year established a solid foundation for continued growth into 2026 ^[3]. The company's sponsorship power is estimated to be approaching €400 million, although budget cap restrictions can influence its impact on track performance ^[2]. Additionally, Ferrari unveiled a new gloss car for the 2026 season, featuring both Lewis Hamilton and Charles Leclerc, an initiative that holds potential to attract new sponsors or strengthen existing collaborations ^[4].

No specific sell-side analyst reports directly addressed Ferrari's 9% price drop in late April 2026. Research did not identify any direct reports from major automotive desks like Morgan Stanley, Goldman Sachs, or Mediobanca focusing on a 9% price drop for Ferrari (NYSE: RACE) during the week of April 28th, 2026. While general automotive articles from Morgan Stanley were found ^[4], they did not concentrate on the specified price movement or timeframe. Other relevant news and market updates concerning Ferrari or the broader automotive sector from Capital.com ^[5] and Reuters ^[1] were published earlier in April 2026, preceding the designated week.

However, tariff risks were a primary concern management would likely address. Web research around the specified period highlighted significant tariff risks, with multiple sources emphasizing the impact of current and potential US tariffs on the automotive corporate sector ^[1]. Specifically, the US trade representative indicated that "Trump tariffs" were expected to remain in place ^[1], and the "US Administration and the tightening of tariffs" was a key focus ^[6]. Ferrari's stock forecast itself was explicitly linked to "US Tariffs" and "Middle East Shipments" in mid-April ^[5].

Beyond tariffs, other issues, including geopolitical tensions, also presented management challenges. Geopolitical tensions and associated supply chain risks were cited as increasing concerns for the North American vehicle market ^[2]. Additionally, questions were raised regarding whether Ferrari's stock was "Pricing In Too Much Optimism After Recent Share Price Swings," suggesting a potential overvaluation that management might need to address ^[3].