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Full Truck Alliance (YMM)
NYSE:YMM
Earnings Data
Report Date
May 26, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.13Last Year’s EPS
0.08Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive tone: the company reported strong full-year revenue and profitability growth, meaningful improvement in monetization (transaction service revenue growth, higher commission penetration and monetization per order), record fulfillment rates, successful ecosystem governance to improve long-term platform quality, advancing AI deployments from pilot to commercial usage, and a clear shareholder return program. Lowlights were mainly transitional: a temporary slowdown in order growth driven by intentional governance actions, short-term pressure in the credit business due to regulatory-aligned rate reductions and some asset-quality volatility, and multi-year investments (AI, autonomous driving, overseas expansion) that will take time to monetize. Overall, the highlights significantly outweigh the lowlights, supporting a positive outlook while acknowledging near-term execution and regulatory headwinds.Company Guidance
Order Growth and Scale Expansion
Total fulfilled orders reached 63.9 million in Q4 (YoY +12.3%) and 236 million for the full year (YoY +19.8%). Full-year cold chain orders grew nearly 30% YoY, indicating strong category expansion.
Shipper and Trucker Engagement Metrics Improved
Average monthly active shippers were 3.28 million in Q4 and 3.14 million for the full year (YoY +11.6% Q4, +18.6% full year). The 12-month rolling active trucker base remained high and the next-month retention rate for truckers who responded to orders exceeded 85%.
Revenue and Profitability Gains
Net revenues for FY2025 reached RMB 12.49 billion (YoY +11.1%). Transaction service revenues grew to RMB 5.32 billion (YoY +38.2%). GAAP net income was RMB 4.46 billion (YoY +42.8%) and non-GAAP adjusted net income was RMB 4.79 billion (YoY +19.3%), demonstrating stronger profitability and scale benefits.
Strong Transaction Service Momentum in Q4
Q4 transaction service revenue was ~RMB 1.49 billion (YoY +~28%). Commission penetration reached 88.6% (up ~6 percentage points YoY) and average monetization per order improved to RMB 26.3, supporting durable monetization despite slower order growth.
Record and Improving Fulfillment Rates
Overall fulfillment rate in Q4 reached 42.7% (a YoY increase of more than 5 percentage points and a new record). Fulfillment for mid- and low-frequency direct shippers approached ~65%, driven by product, policy and credit scoring improvements.
AI Adoption Moving from Pilot to Commercial Deployment
AI initiatives advanced: Giga AI heavy truck feed is commercially operating in express and fast freight; an AI assistant for shippers was piloted (voice-based posting, automated dispatch and negotiation); AI integrated into customer service; company plans broader AI integration across matching, dispatching, pricing and risk management.
Ecosystem Governance Improved Platform Quality
Platform governance removed fake/noncompliant accounts, nearly eliminated resale/trading of trucker accounts on third-party platforms, and increased trucker vehicle verification rates close to 100%. Customer complaints reduced and freight reselling activity declined materially.
Disciplined Capital Allocation and Shareholder Returns
Company returned ~USD 200 million in dividends in 2025 and repurchased ~USD 52.4 million of shares. Management announced a medium- to long-term return plan of ~USD 400 million for 2026 and a Q1 dividend of ~USD 87.5 million, signaling strong cash generation and shareholder focus.
YMM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
YMM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 12, 2026 | $9.13 | $8.98 | -1.64% |
Nov 17, 2025 | $12.32 | $10.85 | -11.93% |
Aug 21, 2025 | $10.94 | $12.01 | +9.78% |
May 21, 2025 | $12.01 | $11.83 | -1.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Full Truck Alliance (YMM) report earnings?
Full Truck Alliance (YMM) is schdueled to report earning on May 26, 2026, Before Open (Confirmed).
What is Full Truck Alliance (YMM) earnings time?
Full Truck Alliance (YMM) earnings time is at May 26, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is YMM EPS forecast?
YMM EPS forecast for the fiscal quarter 2026 (Q1) is 0.13.
