Millicom International Cellular (NASDAQ:TIGO) Releases Quarterly Earnings Results

Millicom International Cellular (NASDAQ:TIGO) released its quarterly earnings results on Tuesday. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08, Zacks reports. The business 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

Shares of NASDAQ:TIGO traded down $0.88 during midday trading on Thursday, reaching $81.11. 435,746 shares of the company’s stock traded hands, compared to its average volume of 1,346,124. Millicom International Cellular has a 1 year low of $34.91 and a 1 year high of $85.26. The company has a market cap of $13.71 billion, a P/E ratio of 11.05 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The company has a fifty day simple moving average of $78.00 and a two-hundred day simple moving average of $63.90.

Millicom International Cellular Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EP Wealth Advisors LLC purchased a new position in Millicom International Cellular in the 4th quarter valued at $217,000. Quarry LP purchased a new position in Millicom International Cellular in the 3rd quarter valued at $143,000. Osaic Holdings Inc. lifted its holdings in Millicom International Cellular by 1,981.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,973 shares of the technology company’s stock valued at $216,000 after purchasing an additional 5,686 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new position in Millicom International Cellular in the 2nd quarter valued at $201,000. Finally, Thrivent Financial for Lutherans purchased a new position in Millicom International Cellular in the 2nd quarter valued at $203,000.

Wall Street Analyst Weigh In

Several research firms have commented on TIGO. Scotiabank increased 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 research report on Monday, March 30th. 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. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Morgan Stanley reiterated a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. 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’s stock. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

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.