EarningsQ2 2026 Earnings Report
DE:IJCA Q2 2026 EPS Results
Actual EPS€0.41
Consensus EPS―
Beat/Miss―
One Year Ago EPS€0.41
DE:IJCA Q2 2026 Revenue Results
Actual Revenue€5.57B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+9.31%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
DE:IJCA Upcoming Earnings
Inchcape's next earnings date is estimated for March 9, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear evidence of execution and financial strength (9% reported revenue growth, strong Americas and Europe & Africa performance, robust free cash flow and an increased GBP 250m buyback) against notable operational challenges in APAC—particularly Australia—where volumes, margins and contract rationalisation have driven restructuring charges. Management reiterated medium-term targets (>10% EPS CAGR, ~6% operating margin, strong free cash flow) and outlined decisive portfolio and cost actions to address underperformance. Given the breadth of growth drivers, cash generation and continued capital returns, but acknowledging material short‑term APAC headwinds and one-off restructuring costs, the overall tone is constructive with risks concentrated in APAC that management aims to address.Company Guidance
Top-line Growth
Group revenue of GBP 4.7bn, reported revenue growth 9% (7% constant currency) including organic revenue growth of 5%; group volumes grew ~9% (organic).
Strong Regional Performance — Americas
Americas TIV up 21%; Inchcape volumes up 18% and organic revenue growth 13%; operating margin expansion of 50 basis points to 6.5%; Chinese OEMs now represent over 40% of new vehicle volumes in the region and Chinese OEM volumes rose ~48% over the last 12 months.
Europe & Africa Outperformance and M&A
Market volumes up 4%, organic revenue growth 7%; volumes up 13% including Iceland acquisition; adjusted operating margin up 20bps to 5.1%; completed integrations and announced Silver Star (Bulgaria) acquisition (completed 1 July) to support H2 growth.
Cash Generation and Strong Balance Sheet
Free cash flow of GBP 84m in H1 with H1 cash conversion of 65% and LTM free cash flow of GBP 327m (112% LTM conversion); closing leverage of 0.5x EBITDA, well within self-mandated ceiling of 1x.
Disciplined Capital Allocation — Buybacks & Dividend
Share buyback program increased from GBP 175m to GBP 250m (top-up of GBP 75m); GBP 167m of buybacks executed to date; interim dividend 10.8p, up 14% year-on-year; dividend policy maintained at 40% of basic EPS.
Reiterated Medium-Term Targets
Reaffirmed medium-term guidance: greater than 10% compound annual EPS growth to 2030; target ~6% operating margins and 100% free cash flow conversion; target GBP 2.5bn cumulative free cash flow to 2030.
Portfolio & Commercial Actions
Won five new distribution contracts (Volvo Ecuador, Deepal Barbados, Subaru & XPENG Brunei, GAC AION Romania); 15 immaterial contract exits agreed (13 in APAC) to prioritise higher-value partnerships; continued focus on value-added services (parts, F&I, aftersales).
Outlook — Confident for H2 and Full Year
Guidance expects organic volume growth at the top end of 3–5% range, operating margins circa 6% for the year, free cash flow conversion targeted >100% and a half 2 weighting with expected ~20,000 uplift in new vehicle volumes in H2 versus H1.
DE:IJCA 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