Earnings call transcript: J&T Express Q3 2026 parcel growth lifts volume, shares fall

J&T Express reported a 24.8% increase in third-quarter parcel volume to 9.584 billion pieces, driven by strong growth in Southeast Asia and emerging markets. Despite this impressive performance, the company's shares fell by 3.15% to $8.93 following the earnings call. China saw a 15.3% increase in parcel volume, outpacing the industry average of 4.6% growth.

Southeast Asia led growth with a 44.5% rise to 2.88 billion parcels, while other markets surged by 159% year-over-year, primarily benefiting from Latin America. The company maintained its guidance and acknowledged challenges like oil-price volatility and macro pressures. Management emphasized shifting focus from pure volume expansion to sustainable growth, emphasizing service quality and efficiency. The company's total buyback spending since listing amounted to HKD 2.2 billion.