Full Truck Alliance reports Q2 adjusted EPS 13c, consensus 13c

Reports Q2 revenue $380.38M, consensus $376.67M. Fulfilled orders in Q2 reached 49.1M, an increase of 22% from 40.2M in the same period of 2023. Average shipper MAUs in the second quarter reached 2.65M, an increase of 32.8% from 2M in the same period of 2023. Peter Hui Zhang, founder, chairman and CEO of FTA, commented, “We are pleased to see our team’s unwavering commitment to user centricity in the first half of 2024 despite pressure from macroeconomic challenges and extreme weather conditions. In the second quarter, we made steady progress across the board and delivered a strong operational and financial performance. Focusing on the core of our product and business from the user’s perspective has empowered consistent execution excellence. As a result, our shipper-user scale reached an all-time high. Meanwhile, we enhanced the infrastructure serving our truck-cargo matching system, driving continuous order structure improvement and a steady increase in fulfillment rate. As we move into the second half of the year, we are confident of achieving progress in various businesses and maintaining growth in both scale and profits.”