China's Full Truck Alliance Q2 profit lifted by higher orders, rates

Full Truck Alliance

19/08/2026 10:00

Overview
China digital freight platform's Q2 revenue rose 4.4% yr/yr, driven by freight matching growth
U.S-listed company's adjusted net income for Q2 increased 6.0% yr/yr, with 
Company declared a Q3 cash dividend totaling about $87.5 mln

Outlook
Full Truck Alliance expects Q3 2026 net revenues between RMB3.32 bln and RMB3.42 bln vs RMB3.36 billion in the same period of 2025

Result Drivers
TRANSACTION SERVICE GROWTH - Co said revenue growth was mainly driven by a 33.1% increase in transaction service revenues, reflecting higher order volume, penetration rate and per-order fees
BROKERAGE REVENUE DECLINE - Freight brokerage revenues fell due to lower transaction volume, partly offset by higher service fee rates
VALUE-ADDED SERVICES DROP - Value-added services revenue decreased, mainly due to lower credit solutions revenues

Company press release: ID:nPn7HJGxya

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
RMB 3.38 bln
 
Q2 Adjusted Net Income
 
RMB 1.43 bln
 
Q2 Net Income
 
RMB 1.35 bln
 
Q2 Adjusted Operating Income
 
RMB 1.58 bln
 
Q2 Operating Income
 
RMB 1.49 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Full Truck Alliance Co. Ltd. is $12.39, about 40.8% above its August 18 closing price of $8.80
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Aug 18 - China's ZTO Express Q2 profit up 50% on operational efficiency 
Aug 17 - Freightos Q2 revenue hits record, loss narrows as Mideast activity resumes
Aug 19 - Hong Kong's SITC International half-year revenue rises on higher shipping volumes, freight rates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)