Millicom International Cellular S.A. (TIGO)
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Millicom: Strong Margins, Higher Expectations
Millicom International Cellular is rated a cautious buy, driven by robust margins, strong equity free cash flow, and disciplined execution on acquisitions. TIGO's EBITDA margin of 43.2% and record $225M quarterly equity free cash flow highlight operational strength, with 2026 free cash flow targeted at $900M. Acquisition integration, especially in Colombia and Chile, is the main catalyst, with early successes in margin improvement and rapid cash contribution from acquired assets.
Millicom International Cellular Q1 Earnings Call Highlights
Millicom International Cellular NASDAQ: TIGO reported what management described as a solid start to 2026, with first-quarter revenue and cash flow boosted by recent acquisitions and continued growth in its core mobile business.
Millicom International Cellular SA (TIGO) Q1 Earnings and Revenues Top Estimates
Millicom International Cellular SA (TIGO) came out with quarterly earnings of $0.97 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $1.14 per share a year ago.
Millicom International Cellular S.A. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 16,756 | $818,197.81 | $1.58M | $761,839.37 | 93.11% |
| CE Curtis Ellergodt Rothschild Investment LLC | 81 | $4,353.11 | $7,638.04 | $3,284.93 | 75.46% |
 Dodge & Cox Dodge & Cox Funds | 8.7M | $263.4M | $820.55M | $557.14M | 211.52% |
| ABB Alexander Bjornager Bonde Danske Bank A/S | 1,867 | $139,913 | $176,052.13 | $36,139.13 | 25.83% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 196 | $14,688.24 | $18,525.19 | $3,836.95 | 26.12% |
Millicom International Cellular S.A. Analysts
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| MS Marcelo Santos JP Morgan | 639.66 | $53,801.68 | $63,255.83 | $9,454.15 | 17.57% |
| AC Andres Coello Scotiabank | 967.47 | $14,410.62 | $92,887.19 | $78,476.57 | 544.57% |
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Millicom International Cellular S.A. Profile
| Diversified Telecommunication Services Industry | Communication Services Sector | Marcelo Benitez CEO | NASDAQ (NGS) Exchange | 60081T103 CUSIP |
| LU Country | 14,250 Employees | 8 Oct 2026 Last Dividend | 20 May 2022 Last Split | 28 Feb 1994 IPO Date |
Overview
Millicom International Cellular S.A. is a leading telecommunications and digital services provider focused on delivering advanced connectivity and entertainment services to customers across Latin America. Founded in 1990 and with headquarters in Luxembourg, Millicom operates under the brand names Tigo and Tigo Business, catering to a wide range of audiences, including residential consumers, small, medium, and large businesses, as well as governmental entities. The company is dedicated to enriching the digital lifestyle of its customers through its vast array of services, leveraging the latest technologies to provide innovative and convenient solutions.
Products and Services
Mobile Services: Millicom International Cellular S.A. offers a comprehensive range of mobile services that include voice calls, mobile data, and short message services (SMS). Their offering is designed to meet the connectivity needs of their customers, providing them with the ability to communicate and access information on the go.
Mobile Financial Services: The company provides a suite of financial services through its mobile platform. These services encompass payments, money transfers, international remittances, savings, real-time loans, and micro-insurance. Tigo Money, a notable feature, enables customers to perform financial transactions conveniently without the need for a traditional bank account.
TIGO Sports: This platform is dedicated to delivering local sports entertainment to its subscriber base. TIGO Sports offers exclusive coverage of various sports events, engaging sports enthusiasts with live matches and sports-related content directly through their Tigo service.
TIGO ONEtv: Millicom's pay TV service, TIGO ONEtv, provides customers with a variety of entertainment options, including movies, series, and television shows, ensuring high-quality entertainment is available for the entire family.
Fixed Services: Beyond mobile services, Millicom offers fixed services that include broadband internet and fixed voice communication. These services ensure customers have access to reliable and high-speed internet connectivity, as well as clear and dependable voice calling capabilities.
Telecommunications and Managed Services: The company's portfolio also encompasses comprehensive fixed-voice and data telecommunications services, which include managed services, cloud solutions, security solutions, and other value-added services. These are designed to support businesses in their operations, facilitating smooth and efficient communication and data management.
Tower Infrastructure and Services: Millicom also engages in the provision of tower infrastructure and related services, catering to the needs of various telecommunication companies. This aspect of their business underscores Millicom's role as a key player in the telecommunications industry, supporting the infrastructure that enables widespread connectivity and communication.
