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Millicom's Q3 revenue jumps 61%, beats expectations

By Reuters News


Overview

  • Luxembourg-based telecom provider's Q3 revenue rose 60.8% yr/yr, beating analyst expectations

  • Adjusted EBITDA grew 57.7% yr/yr, while net profit fell 49.9%


Outlook

  • Millicom maintains 2026 equity free cash flow guidance of around $1.1 bln

  • Company remains on track for year-end leverage target of below 2.5x

  • Millicom says priorities remain network investment, efficiency, and cash flow generation


Result Drivers

  • EFFICIENCY INITIATIVES - Co said improved operational efficiency contributed to profitability and cash flow growth

  • PREPAID-TO-POSTPAID MIGRATION - Co said migration strategy improved customer retention and ARPU

  • PRICING STRATEGY - Co said 'more-for-more' pricing led to higher revenue per user


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$2.28 bln

$2.23 bln (3 Analysts)

Q3 EBIT

Beat

$600 mln

$518.57 mln (2 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the wireless telecommunications services peer group is "buy."

  • Wall Street's median 12-month price target for Millicom International Cellular S.A. is $93.50, about 21.3% above its November 4 closing price of $77.09

  • The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 18 three months ago


Reuters Recommended Reads

  • Nov 4 - Liberty Latin America's Q3 adjusted OIBDA rises

  • Nov 4 - ATN International Q3 operating income rises as revenue holds steady

  • Nov 5 - BT Group HY profit up 14% on Openreach FTTP demand, cost savings


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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