NYSE$YMM
Full Truck Alliance Co. Ltd · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
Full Truck Alliance Co. Ltd reported Q2 2026 results with total net revenues of RMB 3.38 billion, up 4.4% year-over-year, and net income of RMB 1.35 billion.
Full Truck Alliance Co. Ltd (YMM) announced unaudited financial results for the second quarter ended June 30, 2026. Total net revenues reached RMB 3,381.6 million, driven by growth in transaction services within freight matching. Net income increased 6.3% to RMB 1,345.1 million, supported by operational efficiencies and higher fulfillment rates.
- Total net revenues RMB 3,381.6 million (+4.4% YoY), with transaction service revenues up 33.1% to RMB 1,766.4 million.
- Net income RMB 1,345.1 million (+6.3% YoY); non-GAAP adjusted net income RMB 1,433.8 million (+6.0% YoY).
- Fulfilled orders 68.5 million (+12.7% YoY); average shipper MAUs 3.57 million (+12.8% YoY).
- Operating cash flow RMB 2,150.2 million; free cash flow RMB 2,040.0 million; strong cash position of RMB 33.4 billion.
Headline financials
Revenue & EPS history
FTA · Revenue · Quarterly
¥502M
Revenue by segment
FTA · ¥6.39B total across 5 segments · Q2 2026
- Freight matching services¥3.01B+9.6%47.1%
- Transaction service¥1.77B+33.1%27.6%
- Freight brokerage¥995M—15.6%
- Value-added services¥369M-24.9%5.8%
- Freight listing¥251M—3.9%
Forward guidance
Expects total net revenues between RMB 3.32 billion and RMB 3.42 billion for Q3 2026.
Tailwinds
- Strong growth in transaction services and fulfilled orders.
- Record fulfillment rates and improved user satisfaction.
- Robust cash generation and liquidity position.
Headwinds
- Decline in value-added services revenues.
- Increased R&D expenses due to acquisitions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports
+2.7%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.6%
Avg return
30 days after
57%
12 / 21 earnings
Positive
+21.1%
Q2 2022
Best reaction
-11.9%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +4.5% | +2.5% | -7.8% | |
| Q4 2025 | -1.5% | -4.4% | -9.4% | |
| Q3 2025 | -11.9% | -15.8% | -8.5% | |
| Q2 2025 | +10.3% | +17.5% | +23.4% | |
| Q1 2025 | -1.3% | -7.6% | -3.6% | |
| Q4 2024 | +13.6% | +4.5% | -4.6% | |
| Q3 2024 | +13.2% | +10.7% | +32.1% | |
| Q2 2024 | +3.0% | +1.6% | +3.0% | |
| Q1 2024 | -1.9% | -4.9% | -5.8% | |
| Q4 2023 | +1.6% | +8.4% | +17.1% | |
| Q3 2023 | +11.4% | +10.7% | -4.7% | |
| Q2 2023 | +9.5% | +12.3% | +10.9% | |
| Q1 2023 | -2.0% | -0.3% | +12.8% | |
| Q4 2022 | -9.1% | -8.6% | -12.0% | |
| Q3 2022 | +3.9% | +8.1% | +32.6% | |
| Q2 2022 | +21.1% | +9.9% | -6.1% | |
| Q1 2022 | +1.4% | -11.4% | +11.2% | |
| Q4 2020 | -4.9% | +18.7% | -1.8% | |
| Q4 2021 | -5.0% | -7.0% | -27.7% | |
| Q3 2021 | -5.5% | -16.5% | -32.5% | |
| Q2 2021 | +6.6% | -16.8% | +35.3% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — |
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