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

Millicom International Cellular (NASDAQ:TIGO) announced its quarterly 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 for 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 Stock Down 0.4%

Shares of NASDAQ TIGO traded down $0.32 during trading on Thursday, hitting $81.66. The stock had a trading volume of 934,834 shares, compared to its average volume of 1,351,647. Millicom International Cellular has a 12 month low of $34.91 and a 12 month high of $85.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market capitalization of $13.80 billion, a PE ratio of 11.10 and a beta of 0.93. The firm has a fifty day moving average of $78.00 and a two-hundred day moving average of $63.90.

Millicom International Cellular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be paid a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.7%. Millicom International Cellular’s dividend payout ratio is presently 40.76%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TIGO. Wall Street Zen lowered shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 28th. Scotiabank lifted their target price on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research report on Monday, March 30th. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, March 6th. Finally, Morgan Stanley restated a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently made changes to their positions in TIGO. Royal Bank of Canada boosted its holdings in shares of Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after buying an additional 14,990 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of 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 buying an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Millicom International Cellular in the first quarter worth about $2,188,000. Goldman Sachs Group Inc. purchased a new stake in shares of Millicom International Cellular in the first quarter worth about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Millicom International Cellular in the first quarter worth about $8,504,000.

About Millicom International Cellular

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.