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Millicom International Cellular misses top-line and bottom-line estimates; reaffirms FY24 outlook
2024-08-02 18:09
- Millicom International Cellular S.A. press release (NASDAQ:TIGO): Q2 GAAP EPS of $0.46 misses by $0.08.
- Revenue of $1.46B (+5.0% Y/Y) misses by $20M.
- EBITDA $634 million, up 23.1% - Colombia EBITDA margin 39.5%.
- Equity free cash flow $268 million.
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2024 Financial Targets
Millicom targets equity-free cash flow above $600 million in 2024, excluding proceeds for the previously-announced tower sale in Colombia. Millicom also targets leverage to near 2.5x at year-end 2024. Excluded from both targets are cash proceeds and related taxes stemming from any potential future tower transaction.
More on Millicom International Cellular:
- Millicom International Cellular Q2 Earnings Preview (Rating Downgrade)
- Millicom in talks to buy Telefonica’s stake in Coltel for $400M in cash
- Billionaire Xavier Niel's Atlas Luxco confirms $4.1B offer to acquire Millicom
- Financial information for Millicom International Cellular S.A.
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