ZTO Express Q2 Earnings & Revenues Increase Year Over Year

ZTO ExpressZTO reported second-quarter 2026 earnings of 56 cents per share, which improved from the year-ago quarter. Total revenues of $2.14 billion also improved from the year-ago reported quarter.

ZTO Express (Cayman) Inc. Price, Consensus and EPS Surprise

ZTO Express (Cayman) Inc. price-consensus-eps-surprise-chart | ZTO Express (Cayman) Inc. Quote

Mr. Meisong Lai, founder, chairman and chief executive officer of ZTO, stated, "In the second quarter of 2026, ZTO remained focused on elevating service quality and customer experience, improving operational efficiency, and fostering fair, transparent network policies. We handled a total parcel volume of 10.5 billion, representing a 6.5% year–over–year increase, outpacing the industry average by 2.3 percentage points. Adjusted net income reached RMB 3.1 billion. Daily average retail parcel volume continued to grow faster than traditional e–commerce parcel volumes. This structural shift boosted parcel volumes while enhancing overall profit margins."

Detailed Operational Statistics

Revenues from the core express delivery business increased 23% year over year, owing to 6.5% growth in parcel volume and a 15.5% increase in parcel unit price. Within core express delivery revenues, key account revenues, generated by direct sales organizations, surged 63.6% year over year owing to an increase in e-commerce return parcels.

Revenues from freight forwarding services rose 21.1% year over year. Revenues from sales of accessories, largely consisting of sales of thermal paper for digital waybills, fell 1.7% year over year. Other revenues were mainly derived from financing services.

Gross profit increased 26.8% from the year-ago reported quarter. Gross margin rate improved to 25.7% from 24.9% in the year-ago period.

Total operating expenses were RMB505.3 million ($74.5 million) compared with RMB469.3 million in the same period last year.

ZTO Express exited the first quarter of 2026 with cash and cash equivalents of $1.65 billion compared with $1.43 billion at the end of the prior quarter.

In March 2026, ZTO Express’ board also approved a new share repurchase program (the "New Program"), authorizing share repurchases of up to $1.5 billion of its shares over 24 months, effective from March 20, 2026 to March 20, 2028. In the second quarter of 2026, ZTO Express had repurchased an aggregate of 6,161,216 ADSs for $138 million (including repurchase commissions) under the New Program. The company is left with $1.36 billion of capacity under the authorization.

Outlook

Based on current market and operating conditions, ZTO Express updates its 2026 parcel volume guidance. ZTO Express now expects parcel volume in the range of 40.8 billion to 42.4 billion (reflecting 6-10% year-over-year growth). The prior provided guidance was in the range of 42.37 billion to 43.52 billion.

Currently, ZTO Express 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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