Singapore's Grab lifts 2026 forecasts on strong ride-hailing, delivery demand

Singapore's ride-hailing and delivery giant Grab has raised its 2026 revenue forecast, buoyed by strong performance in its ride-hailing unit and growing demand for its delivery services. The company now anticipates generating between US$4.15 billion and US$4.20 billion in revenue, an increase from the previous range of US$4.10 billion to US$4.15 billion. Despite elevated fuel costs and inflation pressures, Grab's CFO, Peter Oey, reported that consumers continue to use the platform more frequently and spend more.

Grab's financial services unit, which includes loans, insurance products, and other offerings, reported its first positive adjusted EBITDA of US$12 million, a significant turnaround from a US$28 million loss the previous year. This growth can be attributed to increased adoption of its lending and insurance products. Promotions, such as GrabMall, along with expansion into new categories like pharmaceuticals and beauty products, helped drive higher usage and larger order sizes.

To support drivers ahead of the holiday travel season, Grab is offering fuel subsidies, insurance benefits, and lending programs to help them transition to electric vehicles. These incentives are expected to boost the number of active drivers. In the third quarter, Grab's revenue rose 27% to US$1.11 billion, surpassing analysts' estimates of US$1.07 billion. Shares of the company surged 5.0% in extended trading on Monday, after falling 42% so far in 2022.