May 18, 2026
Carreras Ltd (CAR)
Unaudited financials for the first quarter ended March 31, 2026:
Carreras Ltd (CAR) for the first quarter ended March 31, 2026, reported a 57% increase in Operating Revenue totalling $6.93 billion compared to $4.40 billion in the corresponding three months last year.
Cost of Operating Revenue amounted to $2.91 billion (2025: $1.80 billion), representing an increase of 62% year over year. Consequently, Gross Operating Profit increased by 54% to $4.02 billion compared to $2.61 billion for the first quarter ended March 31, 2025.
Other Operating Income decreased by 20% to close at $88.60 million (2025: $110.43 million), while Administrative, Distribution and Marketing Expenses decreased by 6% from $783.06 million in 2025 to $734.38 million for the three months. Lease Interest Expense declined by 19% to $18.50 million (2025: $22.71 million), while Expected Credit Impairment reflected a gain of $8.66 million compared to a loss of $8.04 million in 2025.
Profit Before Income Tax for the first quarter ended March 31, 2026, amounted to $3.36 billion, a 76% increase relative to $1.90 billion reported in 2025.
Income Tax for the three months amounted to $848.50 million, a 72% increase relative to $492.35 million reported in 2025. Net Profit for the three months amounted to $2.51 billion, a 78% increase from the $1.41 billion reported in 2025.
Consequently, Earnings Per Share for the three months amounted to $0.52 (2025: EPS: $0.29). The twelve-month trailing EPS was $1.59, and the number of shares used in these calculations was 4,854,400,000.
Notably, CAR’s stock price closed the trading period on May 15, 2026, at a price of $22.47 with a corresponding P/E ratio of 14.17x.
Balance Sheet Highlights
The company’s assets totalled $10.21 billion (2025: $9.85 billion). The increase in total assets was mainly driven by Cash and Cash Equivalents, which rose to $6.27 billion from $4.57 billion in the prior year. Inventories also increased to $671.97 million from $547.83 million. However, the overall increase was partly offset by a decline in Accounts Receivable, which fell to $1.96 billion from $3.31 billion, as well as a reduction in Non-current Assets to $1.31 billion from $1.43 billion.
Shareholders’ Equity was $3.73 billion (2025: $2.55 billion), representing a book value per share of $0.77 (2025: $0.53).
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