Earnings call transcript: Inter Cars posts strong H1 2026 growth, stock slips

Inter Cars reported strong first half of 2026 earnings, with revenue of 11.4 billion złoty, a 30.1% gross margin, and net profit of approximately 500 million złoty. The Polish auto parts distributor's growth was driven by higher sales, improved pricing, and stronger cash generation. Operating cash flow increased to 790 million złoty from 564 million złoty a year earlier, and net debt to EBITDA improved to 1.76 times.

Despite the positive financial results, the company's stock slipped 0.33% to $897 from $900, leaving it just below its 52-week range. International distribution companies generated 6.5 billion złoty in sales, up more than 19%, and the company opened 28 new branches outside Poland over the past year, including its first location in Wuppertal, Germany.

Inter Cars expects capital spending to remain elevated in the near term, with a new logistics center in Stęszew and a warehouse extension in Bulgaria planned. The company's strong financial performance and expanding presence in Western Europe suggest a promising outlook for investors.