Full Truck Alliance Co. Ltd. (YMM)
NYSE:YMM
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Earnings Data
Report Date
Aug 20, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.19Last Year’s EPS
0.19Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple operational and product wins—accelerating fulfilled order growth (~14% YoY), record-high fulfillment rate (44.1%), strong transaction revenue growth (>33% YoY), rising commission penetration (>94%), expanded fueling network and AI pilots—supported by solid operating cash flow (RMB 1.56 billion). Challenges noted were manageable and largely strategic: modest overall revenue growth (5.5% YoY), short-term demand pressure from oil price volatility, transitional decline in self-operated invoicing as the company shifts to an aggregator model, and regulatory uncertainty around invoicing. Overall, the positives (improved quality of orders, monetization gains, stronger fulfillment, product and AI progress, and healthy cash flow) outweigh the near-term tactical and external headwinds.Company Guidance
Order Growth and Scale Expansion
Fulfilled orders reached 50.0 million in Q1 2026, up ~14% year-over-year (company also cited 14.3% acceleration). Management attributed the acceleration to platform governance, oil-driven shipper migration, and improved matching efficiency.
Shipper Engagement and MAUs
Average shipper MAUs were 3.11 million in Q1, up ~12.7–13% year-over-year, driven by improved user acquisition efficiency (App Store, feed ads, partnerships), referral growth and scenario-specific product benefits.
Fulfillment Rate Improvement
Overall fulfillment rate was 44.1%, a record high, up ~4.9 percentage points year-over-year and 1.4 percentage points quarter-over-quarter. Low/medium-frequency direct shippers averaged nearly 65% fulfillment.
Revenue Mix and Transaction Revenue Strength
Total net revenues grew 5.5% year-over-year to RMB 2.85 billion. Excluding freight brokerage services, net revenues were RMB 2.02 billion, up 17% year-over-year. Transaction service (commission) revenues reached RMB 1.39 billion, up >33% year-over-year.
Commission Penetration and Monetization per Order
Commission penetration exceeded 94%, up ~9 percentage points year-over-year. Average monetization per order was ~RMB 26.9, continuing a steady upward trend.
Strong Operating Cash Flow
Net cash provided by operating activities increased significantly year-over-year to RMB 1.56 billion, reinforcing operational resilience and funding capacity for innovation.
Truck Supply and Engagement
Monthly active truckers responding to orders remained around 3 million. Average fulfilled orders per active trucker rose year-over-year and median time-to-transaction remained near historical lows, supported by extended freight payment protection and trucker credit-rating incentives.
Fueling Network Expansion and Strategic Partnership
Fueling network expanded to ~12,000 gas stations; strategic cooperation with Sinopec went live across Jiangsu, Zhejiang and Anhui with >3,000 Sinopec stations accessible on the platform, enabling preferential fuel rates and subsidies to help truckers manage fuel costs.
AI and Product Innovation
AI initiatives moved from exploration to targeted pilots: AI shipper assistant integrated into posting, matching and tracking; AI-assisted posting showed materially higher fulfillment rates. Matching and fulfillment agents, trucker AI assistant and AI-powered customer service launched/expanded in pilots.
Product Expansion and International Traction
Less-than-truckload (LTL) products expanded toward nationwide coverage via dedicated line carriers; Qmove gained traction across 4 international markets. Pilot programs for autonomous delivery vehicles were launched.
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 |
|---|---|---|---|
May 21, 2026 | $8.46 | $8.82 | +4.26% |
Mar 12, 2026 | $9.05 | $8.90 | -1.65% |
Nov 17, 2025 | $12.21 | $10.76 | -11.93% |
Aug 21, 2025 | $10.84 | $11.91 | +9.81% |
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 Co. Ltd. (YMM) report earnings?
Full Truck Alliance Co. Ltd. (YMM) is schdueled to report earning on Aug 20, 2026, Before Open (Confirmed).
What is Full Truck Alliance Co. Ltd. (YMM) earnings time?
Full Truck Alliance Co. Ltd. (YMM) earnings time is at Aug 20, 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 (Q2) is 0.19.
