Ferrari Q3 EBITDA beats at €753M, raises full-year guidance to at least €3B

The raise matters more than the beat: Ferrari nudging full-year adjusted EBITDA guidance higher signals management sees the demand backdrop holding even as net profit landed marginally shy of consensus, a reminder that headline beats can mask mixed line items. This is a luxury-demand read-through rather than a broad auto signal, and it bears on how much pricing power premium brands can keep defending. Whether the guidance raise proves conservative or marks the peak of the upgrade cycle is the open question, along with whether profit growth keeps pace with the top-line beat.