Inchcape (LSE:INCH), the leading global automotive distributor, reported Q1 2026 organic revenue growth of 6% and reported revenue up 8% to £2.3bn for the period 1 January to 31 March.
The performance was driven by distribution contract wins and market share gains, with Inchcape volume growth of 9% versus Inchcape market TIV growth of 6%.
Regionally, the Americas and Europe & Africa delivered continued momentum while APAC lagged as management implements actions to address an increasingly competitive Australian market and brand supply phasing, with Europe aided by a bolt‑on acquisition in Iceland completed in Q3 2025.
"We remain on track to meet our 2026 guidance of EPS growth of more than 10%, in line with our medium term target," Duncan Tait, Group Chief Executive, said.
The group reiterated FY 2026 guidance at constant currency, citing EPS growth of >10% driven by organic volume growth towards the lower end of the 3-5% range, resilient operating margins of c.6% and c.100% free cashflow conversion.
Inchcape said it has repurchased approximately £27m under its £175m share buyback programme as at 29 April and has an active pipeline of bolt‑on acquisitions.
Adrian Lewis, Group CFO, will host a conference call for analysts and investors today, and the company lists its next reporting milestones as interim results on 28 July and a Q3 trading update on 22 October.
