Ferrari N.V. reported its first-quarter earnings for 2025, showcasing robust financial performance with net revenues reaching €1.79 billion, a 13% increase from the previous year. The company's adjusted diluted earnings per share (EPS) stood at €2.30, surpassing the consensus estimate of €2.27. Operating profit (EBIT) rose by 22.7% to €542 million, while EBITDA was reported at €693 million, slightly below the expected €697.1 million. Net profit for the quarter was €412 million, marking a 17% increase year-over-year. Despite the strong start, Ferrari's stock experienced a decline following the earnings release. The company maintained its full-year 2025 guidance, expecting revenues to exceed €7 billion and adjusted EBIT to be at least €2.03 billion, both figures slightly below analyst expectations of €7.2 billion and €2.09 billion, respectively. Ferrari plans to launch six new models this year, including the much-anticipated Ferrari elettrica. Ferrari's CEO, Benedetto Vigna, highlighted the company's success in the first quarter, attributing the growth to a strong product mix and continued demand for personalizations. The company shipped 3,593 units, marking a 1% increase year-over-year. However, Ferrari also warned of potential risks from U.S. tariffs on EU car imports, which could impact profitability by up to 50 basis points. The company noted that orders are already covering 2026, and it maintains a high operating margin of 28%.