August 14, 2026
Carreras Limited (CAR)
Unaudited financials for the six months ended June 30, 2026:
Carreras Limited (CAR) for the six months ended June 30, 2026, reported a 28% increase in Operating Revenue totalling $12.69 billion compared to $9.91 billion in the corresponding period last year. Operating Revenue for the second quarter increased by 5% to $5.76 billion compared to $5.50 billion for the comparable quarter of 2025. Management noted that first-half revenue growth was driven by higher year-to-date volumes, as well as the benefit of the Q2 2026 price increase.
Cost of Goods Sold amounted to $5.24 billion (2025: $4.21 billion), representing an increase of 25% year over year. Consequently, Gross Margin increased by 31% to $7.45 billion compared to $5.70 billion for the six months ended June 30, 2025. Gross Margin for the second quarter amounted to $3.43 billion, representing an 11% increase from $3.09 billion reported for the corresponding quarter of 2025. The Gross Margin percentage improved to 58.7% from 57.5% for the six-month period.
Other Operating Income decreased by 5% to $130.94 million from $137.78 million in 2025, while Administrative, Distribution and Marketing Expenses decreased by 3% to $1.59 billion from $1.64 billion in the prior year. Lease Interest Expense also declined by 20% to $36.15 million from $44.91 million. The company also recorded an Expected Credit Impairment Gain of $9.10 million, compared to an impairment loss of $9.01 million in 2025.
Profit Before Income Tax for the six months ended June 30, 2026 amounted to $5.95 billion, representing a 44% increase from $4.15 billion reported in 2025. For the second quarter, Profit Before Income Tax increased by 16% to $2.59 billion compared to $2.24 billion in the corresponding quarter of 2025.
Income Tax increased by 43% to $1.50 billion compared to $1.05 billion in 2025. Consequently, Net Profit for the six months amounted to $4.45 billion, representing a 44% increase from $3.10 billion reported in the prior year. For the second quarter, Net Profit increased by 15% to $1.94 billion compared to $1.68 billion in the corresponding quarter of 2025.
Consequently, Earnings Per Stock Unit for the six months amounted to $0.92, compared to $0.64 in 2025. Earnings Per Stock Unit for the second quarter amounted to $0.40 compared to $0.35 for the corresponding quarter of 2025. The twelve-month trailing EPS was approximately $1.64, and the number of shares used in these calculations was 4,854,400,000.
Notably, CAR’s stock price closed the trading period on August 14, 2026 at $33.85. Using the twelve-month trailing EPS of approximately $1.64, this represents a P/E ratio of approximately 20.66x.
Balance Sheet Highlights
The company’s Total Assets amounted to $7.36 billion at June 30, 2026, representing a marginal increase from $7.33 billion in 2025. The increase was mainly driven by Cash and Cash Equivalents, which rose to $3.29 billion from $2.26 billion, reflecting the company’s strong operating cash generation. Inventories also increased to $819.46 million from $591.00 million, supporting business continuity and anticipated demand requirements.
Shareholders’ Equity increased to $3.42 billion from $3.02 billion in 2025, representing a book value per share of approximately $0.70 compared to $0.62 in the prior year.
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