GRAB

It has been about a month since the last earnings report for Grab Holdings Limited (GRAB). Shares have lost about 7% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Grab due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Grab Holdings Limited before we dive into how investors and analysts have reacted as of late. Grab Holdings Limited 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. 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. 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 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. Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions. Currently, Grab has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a score of D on the value side, putting it in the bottom 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Grab has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Grab Holdings Limited (GRAB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Image source: The Motley Fool. Monday, August 3, 2026 at 8:00 p.m. ET Head of Strategic Finance and Investor Relations - Ken Vin Lek Chief Executive Officer - Anthony Tan President and Chief Operating Officer - Alex Hungate Chief Financial Officer - Peter Oey Ken Vin Lek: Good day, everyone, and welcome to Grab's Second Quarter 2026 Earnings Call. I'm Ken Lek, Head of Strategic Finance and Investor Relations at Grab. And joining me today are Anthony Tan, Chief Executive Officer; Alex Hungate, President and Chief Operating Officer; and Peter Oey, Chief Financial Officer. During this call, we will be making forward-looking statements, including our business and financial performance. These statements are based on our current beliefs and expectations. Actual results could differ materially due to a number of risks and uncertainties as described on this earnings call, in the earnings release and in our Form 20-F and other filings with the SEC. We do not undertake any duty to update any forward-looking statements. We will also be discussing non-IFRS financial measures on this call. These measures supplement but do not replace IFRS financial measures. Please refer to the earnings materials for a reconciliation of non-IFRS to IFRS financial measures. For more information, please refer to our earnings press release, remarks and supplementary presentations available on our IR website. For today's call, Anthony will deliver opening remarks, after which we will open the floor for questions. As a reminder, we are accepting questions via our IR e-mail at [email protected]. Do submit your questions ahead of time, and we will add them to the Q&A queue. With that, I'll hand it over to Anthony. Ping Yeow Tan: Thanks, Ken. Good day, everyone, and thank you for joining us. We delivered a record second quarter. Adjusted EBITDA grew 54% year-over-year to $168 million, more than twice our revenue growth rate with margin expanding to 16.9% of revenue from 13.3%, our 18th consecutive quarter of adjusted EBITDA growth. On-demand GMV grew 21% year-over-year or 22% on a constant currency basis to $6.5 billion, and group MTUs, monthly transacting users reached another record high of 54 million, even as elevated fuel prices persisted across the region. On the strength of the first half, together with the consolidation of Superbank and the acquisition of Stash, we are raising our full year 2026 guidance, which Peter will take you through in detail. Before turning to the business, a brief update on our Board. As we disclosed on July 6, Dara stepped down from our Board effective that date as we continue to enhance our governance in connection with our proposed acquisition of Foodpanda's Taiwan business. Dara joined us in 2018 in connection with the sale of Uber Southeast Asia business to Grab and has been a valued voice in our boardroom for 8 years. On behalf of the Board and everyone at Grab, I want to thank him personally for his contributions. We maintain ongoing dialogue with Uber in their capacity as a shareholder in Grab. On our core business, we continue to demonstrate our ability to drive on-demand growth acceleration, and we are confident that the structural, long-term moats we are investing in today will continue to expand our competitive advantage. What stands out is the health of that growth, led by transactions and users not price. Three structural moats are driving it. Regional penetration remains incredibly nascent, giving us a massive runway. Our affordability initiatives are profitably unlocking new user segments and building durable daily habits. And engagement is deepening with daily transacting user growth, actively outpacing monthly transacting user growth. The clearest expression of our growth runway is groceries. GrabMart grew at 1.7x the rate of food deliveries this quarter as we push deeper into planned everyday grocery occasions. By enhancing the value propositions of our off-line anchors, Jaya Grocer and Everrise, deepening supermarket partnerships and launching our own AI-powered Grab Shopping Agent, we are driving higher purchase frequency, growing basket sizes and expanding our advertising opportunities, all while remaining disciplined in driving profitability expansion. Our Financial Services segment is also fast approaching adjusted EBITDA profitability expected in the second half of 2026. Our lending playbook, acquiring users at minimal CAC, customer acquisition costs, underwriting with proprietary and behavioral transaction data and funding loans with low cost deposits from our digital banks has enabled financial services to continue being our fastest-growing segment. We recently consolidated Superbank, which now serves over 7.4 million customers and in July, we completed our acquisition of Stash, bringing a profitable AI-powered wealth platform and over $5 billion in AUM into our ecosystem. Underpinning all of this is our Grab AI intelligence layer, which now processes trillions of tokens every month. Our cost per AI interaction with driver and merchant partners has approximately halved versus a year ago, while monthly interactions grew tenfold, which is why we can deploy AI to every ecosystem partner rather than reserving it just for the premium tier and why we can continue to treat AI as a margin lever. Internally, our engineers now coexist with autonomous coding agents in standard practice, cutting time to market by up to 30% year-on-year, while BriX, our internal analytics agent platform cumulatively saves our sales teams approximately 40,000 hours every quarter. Ultimately, our second quarter results prove that our business model is successfully converting scale into expanding operating leverage. We ended the second half of the year with a disciplined operating posture and absolute confidence in our ability to keep compounding profitable durable growth. Thank you. Let's open it up for questions. Ken Vin Lek: Thank you, Anthony. We will now begin the Q&A session, and we encourage you to submit your questions throughout the revenue via e-mail. With that, our first question coming from several analysts, Divya from Morgan Stanley, Alicia from Citi, Jiong from Barclays, Ranjan from JPMorgan and Zhiwei of Macquarie. Question is on our revised guidance, upgraded guidance. Question for Peter and Alex. Peter, are they mainly reflect -- is the revised guidance mainly reflecting the consolidation of Superbank for 2H 2026? And second part for Alex, excluding Superbank's consolidation, were there any changes to the revised guidance based off our core business? Peter Oey: Sure. Great question. What you're seeing in the second half [indiscernible] momentum continuing from the second quarter. You saw where we saw great demand growth on our top line business. Our on-demand business continues to grow at over 20% plus now. If you look at the number of rides, it was up 28% on a year-over-year basis. So you see momentum in transactions. And you saw also in -- the momentum in the number of users now touching the platform at 54 million. I'll let Alex talk a little bit more about that because that's a really important core factor as to how we feel about the second half of this year. And the other thing that we're seeing is also about the Superbank and also the Stash consolidation into play. So you've got the on-demand business and our financial services momentum. You've got now the consolidation of Superbank as well as also Stash into the mix, which is the second pillar of our revised guidance. Also at the same time, we are baking in some FX headwinds into the business. We've got some of the currencies on ASEAN currencies, unfortunately, taking some pressure against the U.S. dollars. And some of that also is mixed into the guidance itself. So I'll let Alex explain a little bit more around the momentum of the business. Alexander Charles Hungate: Thanks, Peter. Yes. So the deliveries business accelerated again this time to 24% year-on-year growth on a constant currency basis. Fintech is now moving convincingly towards profitability in the second half, which is what we had guided for. And finally, we're getting resilient growth of 18% from mobility despite the elevated fuel prices that we've seen since March. So this guidance upgrade from the prior $700 million to $720 million does reflect the factors in -- the fuel price support that we provided for drivers continuing through the second half. And it also includes the FX headwinds of between 2% to 3%, as Peter mentioned earlier. So basically, in summary, the core business is performing well and is in line with the prior guidance. And the new guidance includes the addition of both Superbank and Stash consolidation and these additional FX headwinds that Peter mentioned. Ken Vin Lek: All right. The next question comes from Alicia from Citi and John of Daiwa. The question is on our Financial Services business for Alex. After the consolidation of Superbank and completion of the Stash acquisition, what is management's near-term focus for the fintech business? Should we be expecting the loan book growth to continue? And as Superbank becomes more integrated into Grab's ecosystem, how should we think about the future growth prospect of Indonesia's fintech business and profitability? Alexander Charles Hungate: Okay. Yes. So first, we are on track to achieve profitability for Financial Services in the second half of 2026. I remember it was back in September '22 that we promised this to the market. So we're very pleased to be delivering on our commitments. We are managing risk prudently. So we expect the loan book to exceed $3 billion by the end of this year, including now the Superbank book as well. We are pleased with this consolidation of Superbank in May and then Stash just in July. Grab has obviously been collaborating with Superbank since it was founded in 2022. So we know the business very well. We know the book very well. In fact, there's been a clear focus on the ecosystem since the start for Superbank. So it enables us to lower the customer acquisition costs and improve underwriting because of the deep data science that we can do together with them. Since the app launched in 2024 June, Superbank has grown very rapidly. So it had 1 million customers within the first year. That's 2024. And today it has over 7 million customers with daily transactions of above 1 million. So with more than 60% of Superbank users also using Grab and OVO, it's very clear that, that ecosystem strategy is working very well. Superbank is already delivering robust financials. So it's recorded its full year profitability last year in 2025 already. Efficiency ratios since then have continued to improve. So we've got pretax return on equity already hitting 5.7% in this quarter. And cost of income ratio is already now at 55% and continuing to decrease. Banks expect to continue to driving this ROE improvement, so by end of 2026, and the cost income ratios will continue to track down probably hitting below 50% by the end of the year. The Stash acquisition, as I mentioned earlier, was completed in July. It's already profitable. It's a good team. We like them very much, and they've got strong capabilities that they bring to the group. The asset management growth has continued to accelerate. So we're at 22% asset management growth year-on-year this quarter, reaching USD 5.5 billion and the best thing about it with the subscription model is a very high retention rate with over 1 million active subscribers. So both good acquisitions, fully consolidated now and helping us drive towards this second half breakeven for financial services. Ken Vin Lek: All right. So next question is for Anthony. So the question is about Uber and Grab's relationship. Question comes from Divya from Morgan Stanley, Piyush of HSBC, Jiong from Barclays and Hussaini from Maybank. Can you comment around Uber's proposed acquisition of Delivery Hero? And how that could impact the competitive landscape in Southeast Asia through Foodpanda? Ping Yeow Tan: Thank you for that question. On Uber specifically, we maintain ongoing dialogue with Uber in their capacity as a shareholder in Grab. As shared in our previous public filings, Uber is restricted from competing with Grab in our core markets under 1 year following a full sale of its Grab shareholding. Regardless of that, our markets have always been competitive. Through the years, we have demonstrated steady gains in the category position across the region while driving profitable growth at the same time. Our competitive strength stems from structural advantages that are hard to disrupt. We have continued to deepen our penetration with a record 54 million MTUs, as Peter shared and we are seeing the highest level of DTUs on our platform. This is a result of our core focus on hyper-local execution and strong partnership with governments across 8 distinct markets, which led us to win in the region. GrabMaps, for example, is one that we've shown hyper-local focus. We also continue to double down on our product-led strategy targeted around improving affordability and reliability for partners and consumers. Finally, we have a strong ecosystem flywheel that is reinforced by what Alex just talked about our growing financial service business, which enhances the LTV of our customers from cross-sell across all our core services. Ken Vin Lek: Thanks, Anthony. Next question is on grocery delivery for Alex. So for Mart, are we hitting near the inflection point this quarter with further acceleration of user penetration and transaction volume growth? How should we be thinking about the growth trajectory of the Mart business and contribution to total GMV in 1 year's time? Question is from Alicia from Citi. Alexander Charles Hungate: Okay. Thanks, Alicia. Thanks, Ranjan. Yes, it's true. Grocery penetration is still nascent compared to Deliveries overall. But of course, it's highly complementary to our food business and an important part also of our fintech distribution channel. So GrabMart users grew 42% year-on-year. But even then, Mart still only consists of about 14% of our food user base, so there's still lots of upside there. We spent the year really strengthening the foundations to create the best possible consumer experience. So leveraging both the offline anchors like Jaya Grocer and Everrise in Malaysia and also deepening our partnerships with leading supermarket chains in every country across the region. We've been able to put together a broad everyday assortment of SKUs and then we're also cross-selling organically using Grab more, which continues to improve in terms of its effectiveness as a cross-selling channel. We've got -- also we've introduced an AI-powered Grab shopping agent. So it's very, very convenient. It helps to build baskets for users and allows us to serve the recurring weekly shop better because of this easy automated basket building capability. Overall, GrabMart grew GMV at 1.7x the rate of food deliveries this quarter. So we expect this kind of growth to outpace the overall Deliveries portfolio. And obviously, therefore, it will end the year slightly higher proportion of Deliveries GMV. Longer term, we can see that some of the global peers are reporting something like 30% or even higher for grocery penetration. So there's obviously lots of upside there when you compare against best-in-class outside of Southeast Asia, and we'll continue to target that kind of much higher growth for grocery going forward. Most importantly for us, grocery already drives more frequent user behavior than food alone. And that's really important because we see that frequency expansion and transaction growth coming through this quarter with MTU growth at 54% year-on-year. So that really shows that consumers like the Mart service and come back with multiyear kind of frequency increases for us. So we're scaling groceries deliberately, but we're doing it within our commitment to grow Deliveries margins year-on-year. And you can see in this quarter, we did achieve that milestone also despite the large growth that we generated from groceries within the overall Deliveries segment. Ken Vin Lek: Okay. Next question is from John from Barclays. It's in regards to Indonesia and the commission caps there. A question for Alex. What's the latest in regard to the regulations and commission caps for mobility in Indonesia? Is there any potential that this set of regulations will spill over to be implemented for Deliveries or for 4-wheelers in addition to 2-wheel? Alexander Charles Hungate: Right. Okay. So yes, so the 2-wheel taxi business or as we call it Ojol in Indonesia represents 6% of our total mobility GMV, so relatively small. It does contribute though positive adjusted EBITDA to our business today. The good news is that with the changes that have been implemented in July, we expect to be able to maintain this positive margin profile going forward for the Ojol business in Indonesia. It's very important that we continue to engage with ministers and with the driver groups themselves in terms of how the implementation goes into place because we are very focused on making sure that driver earnings remain sustainable and that, therefore, the Ojol marketplace continues to remain healthy in Indonesia to provide earnings opportunities for those drivers. The full year guidance I can confirm does assume that the commission structure remains as currently implemented for Ojol only and there's no information that we have to suggest that anything otherwise will occur. So overall, therefore, reiterating our group mobility margins for the second half will remain within the historical range of between 8.5% and 9%. Ken Vin Lek: Thanks, Alex. Sticking to mobility, this time a question on fuel prices. A question for Alex. What is your outlook for fuel prices and the timing for mobility margins to go back to the higher end of the range? Alexander Charles Hungate: Well, I don't think any of us are going to stand here and try to predict fuel price through the rest of the year. It's obviously a very volatile situation. But I'll tell you what, we are committed to continuing to support our drivers no matter what happens. So we have committed $7 million already to build support programs since the spike began in March, and that's been successful because it has allowed us to keep the -- maintain the health of the marketplace with more drivers coming into the marketplace to drive for Grab. And that's really our goal is to support them through this difficult time and make sure that marketplace health continues to flourish. It's already -- this kind of support through the rest of the year is already factored into our guidance. So just to confirm, mobility margins this quarter were 8.6%. In other words, very much within the 8.5% to 9% guidance range. We expect to stay within that range during the second half, no matter what happens with fuel prices. Obviously, if fuel prices go down, that will be supportive for us to improve from that point. So the monthly active drivers is up 19%, actually at an all-time high now. So we're very happy with the results of the support that we have put into the marketplace. It's a relatively small number, $7 million in comparison with our overall mobility business. So you can see that we've been very targeted in how we use that support. And therefore, we've been able to manage the margins accordingly. Longer term, obviously, EVs are coming into the marketplace in Southeast Asia in a very rapid rate. We're being a catalyst for that because we think that this is a structural buffer for volatility in oil prices going forward. And it fundamentally reduces the total cost of ownership for drivers. So EVs actually have lower costs once the initial investment is made in the vehicle. So this quarter, for example, we announced 9 new fleet partnerships in Thailand. We've announced a new partnership with Wuling in Indonesia. And we've expanded charging access through the app for drivers in the Philippines. So in nearly every market, we have examples of how we're becoming a positive catalyst for the introduction of cleaner vehicles into Southeast Asia. Ken Vin Lek: Sticking to mobility still, a new question on mobility growth this time around, specifically around the various metrics, GMV revenue and transactions. So mobility GMV grew 18% while transactions grew at 28%, but revenue only grew by 12%. Can management help bridge the net take rate compression across lower average ticket size, product and country mix and higher driver incentives? And should take rates stabilize or recover in second half? And how should we think about mobility revenue growth going forward? Peter Oey: Let me take that one, give Alex a bit of a break. A lot went on in the second quarter into the mobility business, and Alex actually referred to a lot of that. I think 1 critical metric that is one of the signals that we were watching for is the number of rides on the platform. Because we -- as fuel prices went up, this is going back in March and April period, what were the number of drivers that can we see on the platform as well as what does it mean for the riders themselves because they still need to do the commute, they still need to go to point A to point B. So we leaned in on a number of factors there. And that actually translated somewhat of the take rate that you're seeing here on the question itself. Alex talked about the $7 million that we leaned in. We're also leaning over and above that around partner incentives. And that was critical because we wanted to make sure that the supply was strong when it comes to drivers, and there were a few countries that we're leaned in quite hard. Philippines was one of them, Thailand was the other one, with leaned in also in Singapore as well as in Vietnam. Now this is critical because as we wanted to bring the supply up and we saw that in a number of drivers, the monthly active drivers was up 19% on a year-over-year basis. We wanted to make sure the drivers were also earning and were not impacted. We actually saw our drivers' earnings up 4% on a year-over-year basis. Now on the -- as a marketplace, we want to make sure that the riders also are not impacted. What we saw was the number of rides were gone up 28%, yet the prices were actually being compressed, which is exactly what we wanted to do. We wanted to see the riders going -- still using our transport services, which they were while the average ticket size went down because we did implement a lot of the saver products while out there to keep the marketplace very healthy, and it worked. And you saw that in the numbers itself. Now what we were focused was on the margin of the mobility business. And we -- margin was 8.6%, so well within the historical ranges within what Alex talked about here. So it's a combination of really what we saw in keeping the marketplace healthy, which is really critical, keeping mobility rides affordable for the customer, really important at the same time, more drivers on the platform, which we saw, and that's the setup that we want to see going into Q3 because we weren't sure whether the oil or the fuel crisis was going to end. We want to have that setup going into the second half and which we're actually going through right now. And we're seeing very similar pattern to what we're seeing in terms of the second quarter with fuel prices in certain countries still a little bit elevated than we wanted to be. Ken Vin Lek: So shifting our attention now to share buyback and capital allocation. A question from Divya from Morgan Stanley and Hussaini from Maybank. This is a question for Peter. Peter, you announced a $750 million share buyback taking total authorization up to $1.75 billion. How should investors think about the pace of execution? And under what circumstances would you accelerate repurchases? Peter Oey: Yes. So let's go back to the first half, we announced a $500 million buyback in February earnings. So out of that, we've executed roughly about $400 million off that $500 million, of which some of those were accelerated, and we felt that it was constructive for us to go in, given where the share price is and some of them were also tied to continued forward purchase. Now with the new $750 million, which takes the whole program up to $1.75 billion of cumulative buyback, we'll keep deploying against that with the same discipline and the same focus on pace, we'll execute where we continue to see a dislocation in the share price. From a capital allocation framework, we remain very balanced between the organic growth that you're seeing in the business, which we're investing in, but also in M&A, which we keep a very high bar, but also returning capital back to our shareholders, which you are seeing also at the same time. We're focused on generating cash flow in the business, which also you see, which actually translates to long-term shareholder value. Ken Vin Lek: All right. Next question is on autonomous vehicles from Piyush from HSBC. A question for Anthony. Anthony, Grab has done several partnerships and investments to be at the cutting edge of autonomous vehicles and remote driving. Can you please update us on the progress of various pilots and commercial rollout time line in your region? Ping Yeow Tan: Thank you, Piyush, for that question. Let me take a step back and start off with some facts. This region remains one where driver partners are across our platform. So let me just share some numbers. Over 50% of all transactions in Southeast Asia are 2-wheel, below $1 per ride, making EVs uneconomical for commercial rollout. And Singapore specifically is only 10% of all 4-wheel transactions regionally. In Singapore, now to answer specifically your question, we are leading the pace of innovation. We aim to build a hybrid ecosystem at whatever pace regulators and communities are ready for. We see global EV players as partners here. And as you said, many of them are we've partnered, we've invested with not just Western players but also Eastern players, which expands our options. Our edge beyond partnership is a decade of mapping POI, high-density, regulatory and customer relationships centered on trust that actually makes this work at scale. Since January, our AIR shuttle, AIR shuttle has served over 9,000 riders. We've moved through this deliberately with community rights first, then full public operations in April. When we surveyed rides, specifically riders with the government, 99% said they'll recommend it to our friend. But riders told us what they actually want the next: more destinations, direct routes, flexible booking. So 2 weeks ago, we announced the next phase. Supported by our government, our riders will now be able to book their own EV, go point to point and be able to go to directly straight to markets, pharmacies, schools, train stations instead of following a fixed loop. That opens the trial riders over the next few months and to the general public in Q4 when we start charging commercial fares. That makes Punggol our first point-to-point revenue-generating autonomous service. So we are building this the right way, focus on not just the software, but people as well. We set up a depot in Punggol adding more vehicles this year. And through Grab Academy in partnership with the government, we've already certified more than 20 of our own driver partners as safety operators, 6 of them have gone further and qualified as remote operators running fleet monitoring out of our EV operations command center. So when the EV moment comes in Singapore, we will be the most experienced hybrid operator in Southeast Asia. Ken Vin Lek: All right. Thanks, Anthony. And now our final question of the day, specifically on Foodpanda, Taiwan. A question from Piyush of HSBC, Navin from UBS and Jacklin from CIMB question for Peter. On Foodpanda Taiwan, can you share progress on your engagement with the regulators and the likely time line for the deal? What's the likely upfront integration cost for Grab on deal completion? Is any upfront costs incorporated into your 2026 guidance? Peter Oey: Look, as much as I can say here is we remain on track with the progress on this transaction itself. We're keen to enter the Taiwan market. We're continuing with all the preparations behind the scenes. We continue to be in very close discussions with the Taiwanese regulators and also expect to close by the end of the year. Ken Vin Lek: Thanks, Peter. So with that, that brings us to the end of our Q&A session. I'll now turn the time over to Peter for his closing remarks. Peter Oey: Great. Look, before we wrap up, just to recap the headlines, scale converted into profitability in this business. You saw the EBITDA growing more than twice as fast as revenue. Our revenue margin expanded 360 basis points as a group. Our EBITDA is our 18th straight quarter of consecutive growth now. We backed that with capital, $1.75 billion in cumulative buyback authorization since 2024 and were reflected in our latest guidance, raising both revenue as well as EBITDA for the full year. Financial Services is turning profitable in the second half is the next real catalyst for us. And as I always remind the Grab team, this is not a 1-quarter story. It's the trajectory that we're driving. So I want to thank everyone for joining us today. Anthony, Alex and I want to genuinely thank you to our drivers and to all our merchant partners, to all our users and customers, our grabbers and our shareholders for sticking with us. IR and myself will be on the road for the next few weeks. We will be in a very few countries, U.S. London, Hong Kong and also hometown, Singapore here. So reach out to us, if you want to meet or have a coffee or have a conversation, we'd love to see that with you. See you all next quarter. Before you buy stock in Grab, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Grab wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $411,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,335,252!* Now, it’s worth noting Stock Advisor’s total average return is 965% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 11, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool recommends Grab. The Motley Fool has a disclosure policy. Grab (GRAB) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Grab Holdings stock has fallen a long way over the past few years, yet the current checks suggest it no longer looks obviously expensive. This raises questions for investors who remember the earlier share price weakness. With the share price at US$3.72 and recent returns still weak, the key issue is whether the current level already reflects the company’s progress and risks. Over the last 5 years, Grab Holdings has delivered a decline of about 64.6%, which means many longer term holders are still sitting on sizeable losses. Record recent business performance and a sizeable share repurchase plan can support confidence in future cash generation, while regulatory scrutiny around the Foodpanda Taiwan acquisition may cap how much investors are willing to pay for the stock. Grab Holdings currently screens as cheap on most of Simply Wall St’s checks, with the stock passing 5 out of 6 valuation tests on the valuation summary. The stock’s next move may depend on whether the recent improvement in business performance and capital returns is enough to justify a higher multiple after such a weak multi year share price record. Find out why Grab Holdings' -25.2% return over the last year is lagging behind its peers. The P/E ratio is a useful way to see what investors are currently paying for Grab Holdings earnings. Grab stock trades at about 25.4x earnings, which is well below the wider transportation industry average of roughly 35.8x and also below the peer group average of around 52.3x. That already suggests the market is not putting a premium price on the company compared with many listed peers. On Simply Wall St’s more tailored fair P/E estimate, which sits at about 23.6x based on Grab Holdings profile and risk, the current 25.4x multiple is only slightly higher. Despite the recent record Q2 2026 results and the US$750m buyback program announced, the stock is still trading close to what this framework suggests is a reasonable earnings multiple. On balance, Grab Holdings appears to be trading at roughly a fair P/E multiple given its current earnings and risk profile. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives take the valuation puzzle around Grab Holdings and turn it into clear, testable stories about what would need to happen with future growth, margins and earnings for the stock to be worth materially more or less than today’s price. These narratives sit on the company’s Community page. Rather than relying on a single multiple or model output, each narrative lays out the assumptions behind its fair value so you can compare them with actual results as they arrive. One of the top community narratives on Grab Holdings: 55% undervalued Read one of the top narratives on Grab Holdings Do you think there's more to the story for Grab Holdings? Head over to our Community to see what others are saying! For investors looking at Grab Holdings today, the stock screens as roughly fairly valued on current earnings with a P/E that sits below many peers yet close to Simply Wall St’s tailored fair multiple. The strong overall value checks suggest the current price already bakes in a reasonable balance of progress and risk rather than offering an obvious bargain. From here, the debate rests on whether Grab can keep turning recent business momentum and capital returns into durable earnings, and whether the market is willing to pay a higher multiple in spite of regulatory and execution risks flagged around deals like Foodpanda Taiwan. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include GRAB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved 18 consecutive quarters of adjusted EBITDA growth by successfully converting platform scale into expanding operating leverage. Growth is primarily driven by transaction volume and user acquisition rather than price, with monthly transacting users reaching a record 54 million. The 'Grab AI' intelligence layer has halved the cost per AI interaction year-over-year, serving as a critical margin lever across the entire ecosystem. Groceries (GrabMart) grew at 1.7x the rate of food delivery, leveraging offline anchors and AI shopping agents to capture planned everyday grocery occasions. Financial Services growth is powered by a low-cost ecosystem playbook: acquiring users at minimal cost, underwriting via proprietary behavioral data, and funding through digital bank deposits. Internal engineering teams adopted autonomous coding agents as standard practice, cutting time to market for new features by up to 30% year-on-year. Raised full-year 2026 guidance to reflect strong core momentum, the consolidation of Superbank and Stash, and anticipated FX headwinds of 2-3%. Financial Services segment is on track to achieve adjusted EBITDA profitability in the second half of 2026, fulfilling a multi-year strategic commitment. Mobility margins are expected to remain stable between 8.5% and 9% despite volatile fuel prices, supported by targeted driver incentive programs. The loan book is projected to exceed $3 billion by the end of this year, which now includes the Superbank book. Autonomous vehicle strategy focuses on a hybrid ecosystem, with the first revenue-generating point-to-point service launching in Punggol, Singapore, in Q4 2026. Completed the acquisition of Stash in July 2026, adding a profitable AI-powered wealth platform with over $5 billion in assets under management. Consolidated Superbank in May 2026, which already achieved full-year profitability in 2025 and serves over 7 million customers. Dara Khosrowshahi stepped down from the Board to enhance governance related to the proposed acquisition of Foodpanda's Taiwan business. Management flagged persistent elevated fuel prices and ASEAN currency pressure against the U.S. dollar as ongoing macro headwinds. The upgrade reflects strong transaction momentum in the core on-demand business and the consolidation of Superbank and Stash. Management noted that core business performance remains in line with prior expectations, but the new guidance accounts for 2-3% FX headwinds. Fuel price support for drivers is factored into the second-half outlook to maintain marketplace health. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Profitability is confirmed for H2 2026, supported by Superbank's existing profitability and Stash's high-retention subscription model. Superbank's integration allows for lower customer acquisition costs, with 60% of its users already active on Grab or OVO. The segment is targeting a cost-to-income ratio below 50% by the end of 2026. Management emphasized that Southeast Asia has always been competitive and their strength lies in 'hyper-local' execution and government partnerships. Grab maintains a 1-year non-compete restriction with Uber following any full sale of Uber's Grab shareholding. The ecosystem flywheel, particularly the cross-sell between mobility and fintech, is viewed as a structural advantage that is difficult to disrupt. The 2-wheel taxi (Ojol) commission changes implemented in July are expected to allow Grab to maintain a positive margin profile. Management stated there is no current indication that these regulations will spill over into the 4-wheel or delivery segments. Guidance assumes the current commission structure for Ojol remains unchanged for the rest of the year. The gap between 28% transaction growth and 12% revenue growth was a deliberate strategy to keep the marketplace healthy amid high fuel prices. Grab compressed prices and expanded 'saver' products to ensure affordability for riders while increasing driver incentives to maintain supply. Despite these investments, mobility margins remained within the target 8.5-9% range.

Interested in Grab Holdings Limited? Here are five stocks we like better. Grab posted record Q2 results: Adjusted EBITDA rose 54% year over year to $168 million, with the margin expanding to 16.9%. On-demand GMV increased 21% to $6.5 billion, while monthly transacting users reached a record 54 million. Full-year 2026 guidance was raised following the consolidation of Superbank and acquisition of Stash. Grab expects its financial-services segment to reach adjusted EBITDA profitability in the second half of 2026, with the combined loan book exceeding $3 billion by year-end. Growth initiatives and shareholder returns are expanding: Grocery delivery and financial services are outpacing core segments, while Grab authorized an additional $750 million share repurchase program. The company also plans to launch commercial autonomous-vehicle fares in Singapore in the fourth quarter. 3 Penny Stocks Under $5 Backed by Real Revenue Growth Grab (NASDAQ:GRAB) reported record second-quarter results, with adjusted EBITDA rising 54% year over year to $168 million as the Southeast Asian technology company continued to expand margins, grow its user base and integrate newly acquired financial-services businesses. Chief Executive Officer Anthony Tan said adjusted EBITDA growth exceeded the company’s revenue growth rate by more than two times, lifting adjusted EBITDA margin to 16.9% of revenue from 13.3% a year earlier. The quarter marked Grab’s 18th consecutive quarter of adjusted EBITDA growth. → Lost in Space: Why Aerospace Valuations Are Plummeting Right Now Grab Holdings Faces Hurdles, But Upside Potential Is Hard to Ignore On-demand gross merchandise value rose 21% year over year, or 22% on a constant-currency basis, to $6.5 billion. Monthly transacting users reached a record 54 million, despite elevated fuel prices across the region. “What stands out this quarter is the health of that growth, led by transactions and users, not price,” Tan said. → MarketBeat Week in Review – 07/27- 07/31 Buyback Watch: KLA, Flutter, and Grab Move Fast as Their Stocks Swing Grab raised its full-year 2026 guidance, citing momentum in its core on-demand business, the consolidation of Superbank and the acquisition of Stash. Chief Financial Officer Peter Oey said the outlook also incorporates foreign-exchange pressure from Asian currencies against the U.S. dollar. President and Chief Operating Officer Alex Hungate said the upgraded outlook includes an estimated 2% to 3% foreign-exchange headwind and continued fuel-price support for drivers in the second half. He said the core business remains in line with the company’s prior guidance, while the revised outlook reflects the addition of Superbank and Stash. → GE HealthCare Stock Climbs on Vital Diagnostics Demand Deliveries grew 24% year over year on a constant-currency basis, while mobility GMV rose 18% despite higher fuel costs. Grab said ride transactions increased 28% year over year. The company said its financial-services segment is expected to reach adjusted EBITDA profitability during the second half of 2026. Grab expects its loan book, including Superbank’s book, to exceed $3 billion by year-end. Superbank, which Grab consolidated in May, had more than 7 million customers and daily transactions above 1 million, Hungate said. More than 60% of Superbank users also use Grab and OVO. The bank was profitable for the full year 2025, and its pre-tax return on equity reached 5.7% in the second quarter, while its cost-to-income ratio was 55%. Grab completed its acquisition of wealth platform Stash in July. Hungate said Stash was already profitable, had more than $5 billion in assets under management and reported 22% year-over-year asset-management growth during the quarter. Grab highlighted grocery delivery as a major growth opportunity. GrabMart GMV grew at 1.7 times the rate of food-delivery GMV during the quarter, while GrabMart users increased 42% year over year. Still, grocery customers represented only about 14% of Grab’s food user base, according to Hungate, leaving room for further penetration. The company is expanding its assortment through its Jaya Grocer and Everrise retail businesses in Malaysia as well as supermarket partnerships across the region. Grab has also introduced an AI-powered Grab Shopping Agent designed to help customers build recurring grocery baskets. Hungate said the company expects grocery growth to continue outpacing the broader deliveries portfolio while maintaining its commitment to expand deliveries margins year over year. Tan said Grab’s AI infrastructure processes trillions of tokens each month. The cost per AI interaction with driver and merchant partners has approximately halved from a year ago while monthly interactions increased tenfold, he said. Internally, the company said autonomous coding agents have reduced time to market by as much as 30% year over year, while its BriX analytics platform saves sales teams about 40,000 hours each quarter. Grab said it spent $7 million on driver-support programs after fuel prices rose beginning in March. The company’s monthly active drivers increased 19% year over year to an all-time high, while driver earnings increased 4%, Oey said. Mobility adjusted EBITDA margin was 8.6% in the second quarter, within Grab’s historical 8.5% to 9% range. Hungate said the company expects group mobility margins to remain within that range through the second half, with driver support already incorporated into the full-year outlook. In Indonesia, the company said two-wheel taxi, or Ojol, accounted for 6% of total mobility GMV and remained adjusted EBITDA positive. Grab’s full-year guidance assumes the current commission structure for Ojol remains in place, Hungate said. The company is also expanding electric-vehicle partnerships, including nine new fleet partnerships in Thailand, a partnership with Wuling in Indonesia and expanded charging access for drivers in the Philippines. Grab authorized an additional $750 million share repurchase program, bringing cumulative buyback authorizations to $1.75 billion since 2024. Oey said Grab had executed roughly $400 million of the $500 million buyback announced in February. The company will continue repurchases when it sees a “dislocation” in its share price, he said. Grab expects to close its proposed acquisition of foodpanda’s Taiwan business by the end of the year, Oey said, adding that the company remains in close discussions with Taiwanese regulators. He did not provide details on integration costs. Tan also discussed Grab’s autonomous-vehicle work in Singapore. Since January, the company’s Ai.R Shuttle has served more than 9,000 riders. Grab plans to open point-to-point autonomous-vehicle service to trial riders in the coming months and to the general public in the fourth quarter, when it expects to begin charging commercial fares in Punggol. Tan said Grab continues to engage with Uber as a shareholder following Dara’s departure from Grab’s board on July 6. He noted that Uber is restricted from competing with Grab in its core markets for one year following a full sale of its Grab shareholding. Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing "super app" across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions. Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Grab Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Grab Holdings Limited (GRAB) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +500.00%. A quarter ago, it was expected that this company would post earnings of $0.03 per share when it actually produced a loss of $0.01, delivering a surprise of -133.33%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Grab , which belongs to the Zacks Internet - Software industry, posted revenues of $997 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.45%. This compares to year-ago revenues of $819 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Grab shares have lost about 29.9% since the beginning of the year versus the S&P 500's gain of 9.4%. While Grab has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Grab was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.02 on $1.07 billion in revenues for the coming quarter and $0.10 on $4.09 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the bottom 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Paycom Software (PAYC), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This maker of human-resources and payroll software is expected to post quarterly earnings of $2.28 per share in its upcoming report, which represents a year-over-year change of +10.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Paycom Software's revenues are expected to be $512.29 million, up 5.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Grab Holdings Limited (GRAB) : Free Stock Analysis Report Paycom Software, Inc. (PAYC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Adjusted EBITDA: Grew 54% year over year to $168 million, with margin expanding to 16.9% of revenue from 13.3%. Revenue Growth: Adjusted EBITDA growth was more than twice the revenue growth rate. On-Demand GMV: Grew 21% year over year, or 22% on a constant currency basis, to $6.5 billion. Monthly Transacting Users (MTUs): Reached a record high of 54 million. GrabMart Growth: Grew at 1.7 times the rate of food deliveries in the quarter. Financial Services: Fast approaching adjusted EBITDA profitability, expected in the second half of 2026. Superbank Customers: Now serves over 7.4 million customers. Stash Acquisition: Completed in July, adding a profitable AI-powered wealth platform with over $5 billion in AUM. AI Cost per Interaction: Approximately halved versus a year ago, while monthly interactions grew tenfold. Time to Market: Cut by up to 30% year over year through autonomous coding agents. BriX Platform Savings: Cumulatively saves sales teams approximately 40,000 hours every quarter. Warning! GuruFocus has detected 4 Warning Sign with GRAB. Is GRAB fairly valued? Test your thesis with our free DCF calculator. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record Q2 2026 with adjusted EBITDA up 54% YoY to $168 million, marking the 18th consecutive quarter of growth. On-Demand GMV grew 21% YoY (22% constant currency) to $6.5 billion, with MTUs hitting a record 54 million. Financial Services is on track for adjusted EBITDA profitability in H2 2026, with Superbank and Stash acquisitions strengthening the segment. GrabMart is growing at 1.7x the rate of food deliveries, with users up 42% YoY, indicating strong grocery penetration potential. AI-driven initiatives are cutting costs and improving efficiency, with cost per AI interaction halving and time-to-market reduced by up to 30%. Raised full-year 2026 guidance, reflecting strong core business momentum and contributions from Superbank and Stash. Mobility margins remain within the 8.5%-9% range despite fuel price pressures, supported by targeted driver incentives. Share buyback program expanded to $1.75 billion, with $400 million already executed in H1 2026. Autonomous vehicle pilots are progressing, with point-to-point revenue-generating service expected in Q4 2026 in Singapore. Superbank is already profitable with pre-tax ROE of 5.7% and cost-income ratio improving to 55%. Elevated fuel prices persist across the region, pressuring Mobility margins and requiring $7 million in driver support programs. Mobility revenue growth (12%) lags GMV growth (18%) and transaction growth (28%) due to take rate compression from lower ticket sizes and higher incentives. FX headwinds from ASEAN currencies weakening against the USD are baked into guidance, impacting revenue. The foodpanda Taiwan acquisition is still pending regulatory approval, with no clear timeline for closure beyond year-end. Grocery penetration remains nascent at only 14% of the food user base, indicating significant room for growth but also execution risk. The commission cap regulation in Indonesia for two-wheel mobility (ojol) could potentially spill over to other segments, though no such plans are currently indicated. The company is investing heavily in AVs and other long-term initiatives, which may not yield immediate returns. The consolidation of Superbank and Stash adds complexity and integration risks, though they are expected to be accretive. The company's guidance assumes no further deterioration in fuel prices or FX, which could be optimistic given current volatility. The share buyback pace may be slower than expected if the share price does not remain dislocated, as execution is tied to market conditions. Q: Peter, is the revised guidance mainly reflecting the consolidation of Superbank for 2H 2026? And excluding Superbank's consolidation, were there any changes to the revised guidance based on the core business?A: Peter Oey (CFO) and Alex Hungate (President and COO) explained that the guidance upgrade reflects continued momentum from the second quarter, including over 20% growth in On-Demand GMV and a record 54 million MTUs. The revised guidance also incorporates the consolidation of Superbank and Stash, as well as FX headwinds of 2% to 3%. The core business is performing in line with prior guidance, with the new guidance primarily adding the impact of the new consolidations and FX pressures. Q: After the consolidation of Superbank and completion of the Stash acquisition, what is management's near-term focus for the fintech business? Should we expect loan book growth to continue, and how should we think about the future growth and profitability of Indonesia's fintech business?A: Alex Hungate (President and COO) stated that Financial Services is on track to achieve profitability in the second half of 2026, a commitment made in September 2022. The loan book is expected to exceed $3 billion by year-end, including Superbank's book. Superbank, consolidated in May, has over 7 million customers and recorded full-year profitability in 2025, with pre-tax ROE at 5.7% and cost-income ratio at 55%. The Stash acquisition, completed in July, is already profitable with $5.5 billion in AUM and over 1 million active subscribers. Q: Can you comment on Uber's proposed acquisition of Delivery Hero and how that could impact the competitive landscape in Southeast Asia through foodpanda?A: Anthony Tan (CEO) noted that Grab maintains ongoing dialogue with Uber as a shareholder, and Uber is restricted from competing in Grab's core markets until one year after a full sale of its stake. He emphasized Grab's structural advantages, including record MTUs of 54 million, hyper-local execution, GrabMaps, and a strong ecosystem flywheel reinforced by the growing financial services business, which enhances customer LTV. Q: Are we hitting near the inflection point this quarter with further acceleration of user penetration and transaction volume growth for grocery delivery? How should we think about the growth trajectory of the Mart business and its contribution to total GMV in one year's time?A: Alex Hungate (President and COO) reported that GrabMart users grew 42% year over year, yet Mart penetration is still only 14% of the food user base, indicating significant upside. GrabMart GMV grew at 1.7 times the rate of food deliveries this quarter, and the company expects this to continue outpacing the Deliveries portfolio. Grocery drives more frequent user behavior, and the company is scaling it deliberately while maintaining Deliveries margin growth year over year. Q: What's the latest in regard to the regulations and commission caps from mobility in Indonesia? Is there any potential that this set of regulations will spill over to be implemented for deliveries or for four-wheelers in addition to two-wheel?A: Alex Hungate (President and COO) clarified that the two-wheel taxi business (ojol) represents only 6% of total Mobility GMV and contributes positive adjusted EBITDA. With changes implemented in July, Grab expects to maintain this positive margin profile. The full-year guidance assumes the commission structure remains as currently implemented for ojol only, with no indication of spillover. Group Mobility margins for the second half are reiterated within the historical range of 8.5% to 9%. Q: What is your outlook for fuel prices and the timing for Mobility margins to go back to the higher end of the range?A: Alex Hungate (President and COO) stated that Grab is committed to supporting drivers through fuel price volatility, having committed $7 million to support programs since March. This support is factored into guidance, with Mobility margins at 8.6% in Q2, within the 8.5% to 9% range. Monthly active drivers are at an all-time high, up 19%. Longer-term, EVs are seen as a structural buffer against oil price volatility, with new fleet partnerships in Thailand, Indonesia, and the Philippines. Q: Mobility GMV grew 18% while transactions grew 28%, but revenue only grew by 12%. Can management help bridge the net take rate compression, and should take rate stabilize or recover in the second half?A: Peter Oey (CFO) explained that the take rate compression was driven by deliberate investments in partner incentives and saver products to keep the marketplace healthy amid elevated fuel prices. This strategy resulted in a 19% increase in monthly active drivers and a 4% increase in driver earnings, while rides grew 28% with lower average ticket sizes. Mobility margins remained at 8.6%, within historical ranges, and the company is confident in this setup for Q3. Q: You announced a $750 million share buyback taking total authorization up to $1.75 billion. How should investors think about the pace of execution and under what circumstances would you accelerate repurchases?A: Peter Oey (CFO) noted that of the initial $500 million buyback announced in February, roughly $400 million has been executed, with some accelerated due to share price dislocation. The new $750 million brings the cumulative program to $1.75 billion. Grab will maintain the same disciplined approach, executing where there is share price dislocation, while balancing organic growth investments, M&A with a high bar, and returning capital to shareholders. Q: Grab has done several partnerships and investments to be at the cutting edge of autonomous vehicles and remote driving. Can you update us on the progress of various pilots and commercial rollout timelines?A: Anthony Tan (CEO) highlighted that over 50% of Southeast Asia transactions are two-wheel and below $1 per ride, making AVs uneconomical for most of the region. In Singapore, which is only 10% of regional four-wheel transactions, Grab is leading innovation with a hybrid ecosystem. Since January, the Ai.R shuttle has served over 9,000 riders, with 99% recommending it. The next phase allows riders to book point-to-point AV rides, with commercial fares expected in Q4, making Punggol the first revenue-generating autonomous service. Q: On foodpanda Taiwan, can you share progress on your engagement with regulators and the likely timeline For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Grab Holdings Limited GRAB used its second-quarter 2026 earnings call to emphasize transaction-led growth, stronger engagement and expanding operating leverage. Management raised full-year guidance, with Superbank and Stash consolidation driving much of the revision. Grab reported earnings of 6 cents per share, beating the Zacks Consensus Estimate of 1 cent. Revenues rose 22% to $997 million but came in below the consensus estimate of $1.00 billion. Grab Holdings Limited price-consensus-eps-surprise-chart | Grab Holdings Limited Quote Chief financial officer Peter Oey said 2026 revenues are now expected in the range of $4.10 billion to $4.15 billion, up from $4.04 billion to $4.10 billion. The adjusted EBITDA outlook was increased to $720 million to $740 million from $700 million to $720 million. The new ranges imply 22% to 23% revenue growth and 44% to 48% adjusted EBITDA growth. Responding to analysts from Morgan Stanley, Citi, Barclays, JPMorgan and Macquarie, Oey cited on-demand momentum, acquired-business consolidation and foreign-exchange pressure. President and chief operating officer Alex Hungate added that the core business remains in line with the prior outlook. Chief executive officer Anthony Tan highlighted adjusted EBITDA of $168 million, up 54%, as margin expanded to 16.9% of revenues from 13.3%. This was the 18th consecutive quarter of adjusted EBITDA growth. On-demand GMV rose 21% to $6.5 billion, or 22% in constant currency, while monthly transacting users reached a record 53.9 million. Tan said users and transactions, rather than price, led growth. Total incentives reached $706 million. On-demand incentives rose to 10.9% of GMV as Grab supported driver earnings during elevated fuel costs and promoted affordable service tiers. Hungate said Financial Services remains on track for adjusted EBITDA profitability in the second half of 2026. Segment adjusted EBITDA improved to a loss of $15 million from a loss of $26 million. Revenues increased 59% to $134 million, while the gross loan portfolio reached $2.3 billion. Excluding Superbank, the portfolio doubled year over year. During the Q&A, Hungate said the loan book should exceed $3 billion by year-end. He also cited Superbank’s more than 7 million customers and Stash’s $5.5 billion of assets under management as added ecosystem scale. Mobility GMV grew 18% to $2.214 billion, while transactions advanced 28% as affordable products reduced the average ticket. Revenues rose 12%. Oey said Grab increased partner incentives and committed more than $7 million to fuel-support programs. Monthly active drivers increased 19%, and average driver earnings rose 4%. A Barclays analyst asked about Indonesia’s commission caps. Hungate said the two-wheel Ojol business represents 6% of mobility GMV, remains adjusted EBITDA positive and should preserve that profile under current rules. He reiterated a second-half mobility margin range of 8.5% to 9%. Hungate said GrabMart users grew 42% year over year, but reached only 14% of the food user base. GrabMart GMV grew at 1.7 times the rate of food deliveries. Hungate said supermarket partnerships and an AI-powered shopping agent aim to increase recurring grocery purchases. Tan said AI interaction costs have approximately halved while monthly interactions increased tenfold. Analysts from Morgan Stanley and Maybank asked about buyback pace. Oey said the new $750 million authorization lifts cumulative authorization since 2024 to $1.75 billion and that repurchases will remain disciplined. He also told HSBC, UBS and CIMB analysts that the Foodpanda Taiwan transaction is expected to close by year-end. Management’s tone was confident but measured. Tan centered the strategy on user growth, transaction frequency and AI-enabled efficiency, while Oey emphasized cash generation and operating leverage. Near-term priorities are to sustain on-demand growth, deliver second-half Financial Services profitability, support mobility supply through fuel volatility and integrate Superbank and Stash without weakening margin discipline. GRAB carries a Zacks Rank #3 (Hold), placing it outside the top two ranks emphasized by the Style Score framework. Its Value Score is D, Growth Score is F, Momentum Score is A and VGM Score is F. The Momentum Score reflects the strongest part of the style profile, while the Value, Growth and VGM grades are weaker. Style Scores complement the Zacks Rank, with the strongest combinations generally involving a Zacks Rank #1 (Strong Buy) or #2 (Buy) and A or B scores. The Zacks Rank can change as analysts revise estimates after the results. You can see the complete list of today’s Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Grab Holdings Limited (GRAB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Grab Holdings Limited (GRAB) reported $997 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 21.7%. EPS of $0.06 for the same period compares to $0.01 a year ago. The reported revenue represents a surprise of -0.45% over the Zacks Consensus Estimate of $1 billion. With the consensus EPS estimate being $0.01, the EPS surprise was +500%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Grab performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: On-Demand GMV: $6.46 billion versus $6.41 billion estimated by two analysts on average. GMV - Deliveries: $4.25 billion compared to the $4.18 billion average estimate based on two analysts. GMV - Mobility: $2.21 billion compared to the $2.23 billion average estimate based on two analysts. Revenue- Deliveries: $531 million compared to the $536.31 million average estimate based on two analysts. Revenue- Financial Services: $134 million compared to the $126.02 million average estimate based on two analysts. Revenue- Mobility: $331 million compared to the $338.21 million average estimate based on two analysts. Adjusted EBITDA- Deliveries: $96 million versus the two-analyst average estimate of $97.75 million. Adjusted EBITDA- Financial Services: $-15 million compared to the $-18.22 million average estimate based on two analysts. Adjusted EBITDA- Mobility: $191 million compared to the $195.58 million average estimate based on two analysts. View all Key Company Metrics for Grab here>>> Shares of Grab have returned -10.3% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Grab Holdings Limited (GRAB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research