Millicom International Cellular (NASDAQ:TIGO) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Millicom International Cellular reported quarterly EPS of $0.97, topping analyst expectations by $0.08, while revenue came in at $1.99 billion, in line with estimates.
• The company said Q1 2026 got off to a strong start, with organic service revenue up 4.9%, adjusted EBITDA of $857 million, and a record $225 million in equity free cash flow.
• Management left full-year 2026 guidance unchanged, targeting at least $900 million in equity free cash flow and roughly 2.5x leverage by year-end, while it continues integrating the Coltel acquisition in Colombia.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) announced its earnings results on Tuesday. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08, Zacks reports. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.02%.

Here are the key takeaways from Millicom International Cellular's conference call:

• Millicom reported a strong Q1 2026 start, with organic service revenue up 4.9% year over year and adjusted EBITDA of $857 million at a 43.2% margin, showing solid operating leverage despite acquisition-related charges.
• Equity free cash flow reached a first-quarter record of $225 million, and management said Coltel should likely be a net contributor for full-year 2026, helping offset integration and financing costs.
• The company highlighted strong customer momentum, including 5.6 million postpaid net additions and 1.5 million home net adds reported on an acquired basis, with underlying organic growth also positive in mobile, home, and B2B. Management emphasized continued pre-to-post migration as a key growth driver.
• Colombia is becoming a major focus after the Coltel acquisition, with management outlining a three-part integration plan: cost reset, network improvement (including a 4x increase in 5G coverage), and commercial uplift. They identified more than $100 million of expected year-one savings.
• Management kept full-year 2026 guidance unchanged, targeting at least $900 million of equity free cash flow and around 2.5x leverage by year-end, but said it is still too early to update outlook until more integration work is completed in Q2.

Millicom International Cellular Price Performance

TIGO traded down $0.88 during trading hours on Thursday, hitting $81.11. The company's stock had a trading volume of 435,746 shares, compared to its average volume of 1,346,124. The business's 50-day moving average price is $78.00 and its 200-day moving average price is $63.90. Millicom International Cellular has a 12 month low of $34.91 and a 12 month high of $85.26. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 11.05 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81.

Millicom International Cellular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular's payout ratio is currently 40.76%.

Wall Street Analyst Weigh In

TIGO has been the subject of several recent research reports. Morgan Stanley restated a "positive" rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. Zacks Research raised shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Scotiabank lifted their price target on shares of Millicom International Cellular from $43.00 to $51.20 and gave the company a "sector underperform" rating in a report on Monday, March 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 28th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $65.64.

Institutional Investors Weigh In On Millicom International Cellular

Several large investors have recently bought and sold shares of TIGO. Vident Advisory LLC increased its position in Millicom International Cellular by 2.3% during the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company's stock valued at $635,000 after acquiring an additional 254 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Millicom International Cellular by 4.1% in the fourth quarter. Cetera Investment Advisers now owns 10,935 shares of the technology company's stock worth $606,000 after purchasing an additional 428 shares during the last quarter. AQR Capital Management LLC lifted its stake in Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock worth $290,000 after acquiring an additional 453 shares during the period. Altshuler Shaham Ltd purchased a new stake in Millicom International Cellular in the fourth quarter worth about $26,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Millicom International Cellular by 55.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company's stock worth $53,000 after acquiring an additional 502 shares during the period.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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