GRAB Q2 Earnings Surpass Estimates, Increase Year Over Year

Grab Holdings Limited (GRAB) reported second-quarter 2026 earnings per share of 6 cents, which surpassed the Zacks Consensus Estimate of earnings of a penny per share. In the year-ago quarter, GRAB reported earnings of 1 cent per share.

Quarterly revenues of $997 million missed the Zacks Consensus Estimate of $1.00 billion. The top line, however, improved 22% year over year on a reported basis or 21% on a constant currency basis. The upside was owing to growth across the company’s On-Demand and Financial Services segments.

On-Demand Gross Merchandise Value (GMV) grew 21% year over year or 22% on a constant currency basis to $6.46 billion. On-Demand monthly transacting users (MTUs) increased 17% on a year-over-year basis.

Adjusted EBITDA of $168 million improved 54% year over year, owing to revenue growth and improved profitability across segments. Adjusted EBITDA margin rose to 16.9% from 13.3% in the second quarter of 2025.

GRAB’s Q2 Segmental Details

Revenues at Grab’s deliveries segment grew 21% year over year, or 19% year over year on a constant currency basis, to $531 million in the first quarter of 2026. The uptick was owing to growth in Deliveries GMV and Advertising business revenues.

Mobility segment revenues grew 12% year over year as well as on a constant currency basis to $331 million. The upside was backed by solid growth in Mobility GMV and continued expansion of Mobility MTUs and transactions.

Revenues for the Financial Services segment improved 59% year over year, or 62% year over year on a constant currency basis, to $134 million in the second quarter of 2026. Growth was backed by increased contributions from lending across GrabFin and Digibanks.

Revenues for Others were $1 million in the second quarter of 2026.

Liquidity & Cash Flow

GRAB exited the second quarter of 2026 with cash liquidity of $7.4 billion compared with $6.9 billion at the end of the prior quarter.

GRAB used $56 million of net cash from operating activities in the second quarter of 2026. Capital expenditures totaled $49 million. Adjusted free cash flow was $73 million during the reported quarter.

GRAB’s 2026 Guidance

Grab raised its 2026 revenues between $4.10 billion and $4.15 billion, indicating 22-23% year-over-year growth (prior view: $4.04 billion and $4.10 billion, indicating 20-22% year-over-year growth). The Zacks Consensus Estimate is currently pegged at $4.09 billion.

Adjusted EBITDA for 2026 is now expected to be in the band of $720 million-$740 million (prior view: $700-$720 million). The updated EBITDA guidance hints at year-over-year growth in the 44-48% range.

Currently, GRAB carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q2 Performances of Other Transportation Companies

Delta Air Lines (DAL) reported second-quarter 2026 earnings (excluding 88 cents from non-recurring items) of $1.56 per share, beating the Zacks Consensus Estimate of $1.51. Earnings declined in double digits (% wise) from a year ago as sharply higher fuel costs pressured profitability.

Revenues rose on a year-over-year basis to $17.67 billion but missed the consensus estimate of $17.76 billion. Broad demand strength lifted adjusted total revenue per available seat mile, or TRASM, 12.4%, while premium and diversified revenue streams continued to expand.

United Airlines Holdings, Inc. (UAL) reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.

Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68-billion consensus mark. A 12.1% increase in total revenue per available seat mile, or TRASM, and broad-based gains across premium, loyalty and cargo revenues supported the top line despite sharply higher fuel costs.

J.B. Hunt Transport Services, Inc. (JBHT) reported second-quarter 2026 earnings of $1.91 per share, up 45.8% from $1.31 a year ago. The figure beat the Zacks Consensus Estimate of $1.71 by 11.7%.

Operating revenues climbed 19.4% year over year to $3.50 billion and surpassed the consensus mark of $3.19 billion by 9.5%. Higher volumes and pricing across several businesses supported growth, led by a 10% increase in Intermodal loads.

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