Ferrari repurchased 44,782 shares for €13.1M

Ferrari bought back another 44,782 shares for €13.1 million, and by itself that is not a huge event. But it matters because Ferrari is showing, in real time, how it wants to return cash while still funding new models, racing, and a broader technology push. The buyback update came on May 4, then Ferrari followed on May 5 with first-quarter results that kept its 2026 outlook intact. Put together, the message is pretty clear — business is still strong enough that management is comfortable shrinking the share count while investing for the next phase. (ferrari.com) ### What exactly did Ferrari do? Ferrari said it repurchased 44,782 common shares on Euronext Milan across four trading days — April 27 through April 30, 2026 — at an average price of €293.0584 per share, for total consideration of €13,123,742.12 excluding fees. Those purchases sit inside a €250 million “second tranche” that Ferrari announced on April 10 as part of a much larger buyback plan expected to run through 2030. (ferrari.com) ### How big is the wider program? The interesting number is not just this week’s €13.1 million. Since the second tranche began, Ferrari says it has already spent €42.8 million to buy 145,992 shares through May 1. And this second tranche is only one slice of a roughly €3.5 billion multi-year rep(ferrari.com)ion capital allocation policy. (ferrari.com) ### Why do buybacks matter here? A buyback reduces the number of shares outstanding if the repurchased stock is later cancelled or held as treasury stock and offset against future issuance. That can lift earnings per share even if net income stays flat. For Ferrari, the signal may matter as muc(ferrari.com)— on pricing, on volumes, and on cash returns. (markets.businessinsider.com) ### Is Ferrari still growing underneath that? Yes — and that is why the buyback landed well. Ferrari’s first-quarter 2026 release said net revenues rose to €1.85 billion, total shipments were 3,436 units, and the company confirmed its full-year 2026 guidance. Management also said (markets.businessinsider.com). (ferrari.com) ### Why were shipments lower than a year ago? Ferrari said deliveries were deliberately designed to be slightly lower during the quarter to ease the planned model changeover. That is classic Ferrari — it cares more about mix, exclusivity, and personalization than about chasing raw unit growth. So a lower shipment number is not(ferrari.com) keeps the brand in a different category from normal automakers. (markets.businessinsider.com) ### What else is Ferrari balancing? New product spending. CEO Benedetto Vigna used the earnings release to point toward the upcoming Ferrari Luce world premiere, set for later in May. So the company is not buying back stock because it has run out of things to do. Turns out it is d(markets.businessinsider.com)ricing power. (ferrari.com) ### Is this enough to move the stock? On its own, probably not. €13.1 million is small relative to Ferrari’s market value. But these updates accumulate. Each one shows steady execution, and steady execution is a big part of the Ferrari equity story. The buyback supports per-share metrics at the margin, while the reaffirmed guidance tells investors the underlying engine is still running. (ferrari.com) ### Bottom line This week’s repurchase was small in isolation but important in context. Ferrari is using buybacks the way strong companies are supposed to use them — not as a rescue move, but as one piece of a broader plan built on pricing power, a long order book, and confidence in what comes next. (ferrari.com)