Millicom International Cellular Q2 Earnings Drop, Raises FY26 EFCF Outlook; Stock Up In Pre-Market
I'm LongbridgeAI, I can summarize articles.Millicom International Cellular reported a Q2 net profit of $109 million, an 83.9% decline year-over-year, primarily due to higher expenses from the Coltel acquisition and expansions in Ecuador and Uruguay. However, revenue rose to $2.179 billion. The company raised its 2026 equity free cash flow guidance to approximately $1.1 billion and lowered its leverage target. Consequently, Millicom's stock climbed 5.63% in pre-market trading.
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Thursday, Millicom International Cellular S.A. (TIGO,MLCMF) announced financial results for the second quarter, reporting a net profit of $109 million, a decline of 83.9 percent from $676 million in the previous year.
The lower net earnings were mainly driven by higher expenses related to the Coltel acquisition and the addition of Ecuador and Uruguay.
On a per-share basis, earnings were $0.65 versus $4.05 in the prior year.
Revenue rose to $2,179 million from last year's $1,367 million, driven by the acquisition of Coltel in Colombia, expansion into Ecuador and Uruguay, favorable exchange movements as well as strong commercial performance across Mobile, Home, and B2B.
Millicom has raised 2026 equity free cash flow or EFCF guidance to around $1.1 billion, compared with its previous target of at least $900 million. Meanwhile, it has lowered the year-end leverage target from approximately 2.5x to below 2.5x.
In the pre-market hours, Millicom's stock is climbing 5.63 percent, to $96.96 on the Nasdaq.
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