Millicom International Cellular (NASDAQ:TIGO) Issues Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Millicom International Cellular (NASDAQ:TIGO) issued its quarterly earnings data on Thursday. The technology company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45, Zacks reports. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. Millicom International Cellular’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share.

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

• Strong Q4 profitability and cash generation: Adjusted EBITDA reached $778m (47% margin) in the quarter and full-year Equity Free Cash Flow was $916m (or $864m excl. tower proceeds), exceeding guidance despite DOJ settlements and FX headwinds.
• Operational progress driving structural revenue upgrades: Postpaid continues to scale (9.1m postpaid, +12.6% ex-perimeter) with >200k postpaid adds in Q4 (1.8m incl. Ecuador/Uruguay), plus 40k net home adds and strong digital/B2B momentum, supporting ARPU and lower churn.
• Aggressive footprint expansion via M&A: Company integrated Ecuador and Uruguay, closed a 49% stake JV for Telefónica Chile (limited recourse, earn-outs), took 100% control of Colombia and acquired two-thirds of Coltel, creating upside opportunities but adding integration complexity and contingent payments.
• Near-term leverage and integration pressure: Net leverage rose to 2.31 (pro forma 2.17) and is expected to peak above 2.5 in H1 2026 due to acquisition payments and Coltel restructuring (management flagged “triple-digit” restructuring costs), which could pressure cash flow and capital allocation in the near term.

Millicom International Cellular Trading Up 3.6%

NASDAQ:TIGO traded up $2.56 during trading hours on Friday, hitting $73.24. 1,986,781 shares of the stock were exchanged, compared to its average volume of 1,282,007. The company has a market capitalization of $12.60 billion, a P/E ratio of 11.23 and a beta of 0.93. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76. The company’s 50 day moving average is $59.83 and its two-hundred day moving average is $52.63. Millicom International Cellular has a twelve month low of $25.50 and a twelve month high of $73.44.

Hedge Funds Weigh In On Millicom International Cellular

Several large investors have recently made changes to their positions in TIGO. Altshuler Shaham Ltd acquired a new stake in Millicom International Cellular in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC grew its position in shares of Millicom International Cellular by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock worth $53,000 after buying an additional 502 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Millicom International Cellular during the fourth quarter worth approximately $61,000. CIBC Private Wealth Group LLC lifted its holdings in Millicom International Cellular by 262.5% in the third quarter. CIBC Private Wealth Group LLC now owns 1,381 shares of the technology company’s stock valued at $67,000 after buying an additional 1,000 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in Millicom International Cellular during the 4th quarter worth $87,000.

Analysts Set New Price Targets

TIGO has been the topic of a number of recent analyst reports. Scotiabank lowered Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and dropped their price objective for the stock from $46.80 to $43.00 in a research note on Wednesday, February 11th. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $70.00 in a research report on Thursday, January 15th. Morgan Stanley reiterated a “positive” rating and set a $55.00 price objective on shares of Millicom International Cellular in a research note on Thursday. Zacks Research cut shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.40.

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.