New York, March 13, 2026, 10:45 EDT
Grab Holdings climbed roughly 0.9% to $3.79 early Friday on the Nasdaq, partially clawing back from a 3.6% drop the day before. The Singapore ride-hailing and delivery firm drew attention with new perks for its drivers in the Philippines—fuel rebates, lower commissions, and extra incentives—as gasoline costs surged.
That’s coming into play now as Grab works to calm investors after its softer 2026 outlook last month. The latest support package might keep more drivers working in a crucial market, but it also forces investors to consider if added incentives will drag on adjusted EBITDA — earnings before interest, taxes, depreciation and amortization — a key profit metric.
Grab Philippines Managing Director Ronald Roda called helping drivers “earn viably and fairly” the company’s top focus right now, alongside keeping service solid. Details of the support package: drivers can get up to 4 Philippine pesos off per litre on fuel, and almost 20,000 partners will see a 3-peso-per-litre rebate. There are also commission rebates going to GrabCar drivers, plus a 3-peso bonus for every completed GrabFood motorcycle delivery. Grab
The picture isn’t straightforward. Back in February, Grab reported a 19% jump in fourth-quarter revenue, hitting $906 million, and said 2025 was its first year turning a net profit across the calendar. Even so, the company revealed that on-demand incentives accounted for 10.4% of gross merchandise value in the quarter—higher than before. The board cleared a $500 million share buyback as well.
Management is now guiding for 2026 revenue between $4.04 billion and $4.10 billion, and sees adjusted EBITDA landing in a $700 million to $720 million range—both numbers trailing analyst projections from LSEG. Grab CFO Peter Oey told Reuters the company aims to “continue to make our rides affordable,” adding that the grocery segment is clocking growth 1.7 times quicker than food delivery. Reuters
Some key dates are coming up. Grab reported filing its 2025 annual report on March 6. According to a Feb. 20 document, an extraordinary general meeting is set for March 24. That same filing also noted President and COO Alex Hungate will step onto the board May 1, taking over from Oey, while Cheryl Goh exited the board at February’s end.
Grab’s pitch is still centered on a long-term profit push. Last month, in a Reuters interview, Hungate laid out targets: more than 20% annual revenue growth over the next three years, and EBITDA hitting $1.5 billion by 2028. The plan calls for most of that cash to cycle straight back into Southeast Asia. Investors tend to measure those ambitions against what Uber and Lyft are doing, but the key regional wildcard remains Indonesia—specifically, any moves involving GoTo. On that, Hungate said there’s “no update.” Reuters
The risk isn’t hard to spot. Grab described Friday’s package for drivers as just an initial step, leaving the door open for more aid if prices keep spiking. There’s no guarantee spending stops here. On Friday, Reuters said Philippine authorities were looking for ways to rein in climbing electricity costs linked to Middle East shipping snarls and pricier LNG—a clear indication that household financial stress in one of Grab’s largest markets hasn’t let up.
Friday’s uptick recovers just part of Thursday’s drop. Investors are still looking for something basic: evidence that Grab can balance driver supply, keep fares in check, and turn a profit—all at once.
