InPost narrowly beats second-quarter forecasts but cuts guidance

Aug 31 (Reuters) - Parcel locker company InPost, subject of a takeover offer by a consortium led by FedEx and Advent International, narrowly beat market expectations for second-quarter core earnings but cut its 2026 guidance for the metric on Monday.

The outlook cut from a flat annual core profit to a mid-single-digit percent decline was dictated by investment costs, a more competitive pricing environment in InPost's home market Poland, and the ongoing business transformation in Britain and Ireland, it said.

"The UK remains a work in progress," founder and CEO Rafal Brzoska said in a statement, referring to the old Yodel business' revamp focused on lowering costs per parcel and improving the use of its logistic network.

InPost's adjusted earnings before interest, taxes, depreciation and amortisation were 1.04 billion zlotys ($277.6 million) in the second quarter, while analysts polled by the company had expected 1.01 billion zlotys on average.

However, its adjusted core profit margin slumped by 3.3 percentage points in the quarter and by 5.7 percentage points in the first half of the year.

InPost is the target of a €7.8 billion ($9.0 billion) takeover bid from a group of investors headed by FedEx and private equity firm Advent. The offer, which was launched in May and has obtained all regulatory clearances, will run through September 18.

Although the companies are set to remain independent competitors following the acquisition, the deal would allow U.S.-based FedEx to expand its reach in Europe while helping build a European parcel locker champion.

($1 = 3.7469 zlotys)

($1 = €0.8630)

(Reporting by Mateusz Rabiega in Gdansk, editing by Milla Nissi-Prussak)