$TIGO · MILLICOM INTERNATIONAL CELLULAR SA
Millicom filed its Q3 2026 earnings release and unaudited interim financials for the nine months ended September 30, 2026. Revenue grew to $2.276B in Q3 (from $1.415B) and $6.44B for nine months (from $4.15B), driven by consolidation of Coltel, Tigo Uruguay, and Tigo Ecuador. Net profit attributable to owners fell to $98M in Q3 (from $195M) and $316M for nine months (from $1.064B), with EPS of $0.58 versus $1.17 a year earlier. A $99M expense from settling litigation with four former Tigo Guatemala executives weighed on results.
- Q3 revenue $2.276B, up from $1.415B a year earlier.
- Q3 EPS $0.58, down from $1.17.
- Nine-month net profit attributable to owners $316M vs $1.064B.
- $99M expense recorded for Tigo Guatemala executive litigation settlement.
- Nine-month operating profit $1.478B vs $1.163B.
Extended-hours last trade $78.00, down 1.42% vs the $79.12 regular close, suggesting a mildly negative after-hours reaction to the EPS decline.
Top-line growth from acquisitions masks a sharp EPS decline driven by a one-off $99M legal settlement.
Latin American telecom consolidation (Coltel, Uruguay, Ecuador) is inflating Millicom's top line while one-off legal and acquisition costs compress reported earnings.
$99M Guatemala settlement expense with $68M still payable over seven years; tax risk exposure of $378M with only $60M provisioned.