Millicom stock gained 3.17 percent on October 2 as cash flow rises

Published on 10/04/2026 at 21:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Millicom stock posted Q2 2026 revenue of USD 2.18 billion, up 59.4 percent year over year. Seven analysts rate it Hold with an average target of USD 85.68.

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Millicom stock (ISIN LU0038705702) was last at USD 88.32 on Nasdaq on October 2, 2026, up 3.17 percent. The latest operating picture combines record cash generation with a sharp fall in reported profit, giving the stock two very different signals for investors.

Cash flow resets the outlook

On August 6, 2026, Millicom raised its 2026 equity free cash flow guidance from at least USD 900 million to USD 1.1 billion and lowered its year-end leverage target to below 2.5 times, according to ScanX.

The second quarter produced equity free cash flow of USD 327 million, up 50.1 percent from the prior year. Adjusted EBITDA reached USD 1.01 billion, while service revenue rose 60.1 percent on a reported basis to USD 2.04 billion, according to Yahoo Finance.

Revenue growth meets a profit drop

Millicom reported Q2 2026 revenue of USD 2.18 billion, a 59.4 percent year-over-year increase. The comparison is less favorable below EBITDA: net profit attributable to company owners fell 83.9 percent year over year to USD 109 million, from USD 676 million, as integration costs weighed on the result, Yahoo Finance reported on September 17, 2026.

The organic figures provide the sharper test of the acquisition strategy. Organic revenue growth was 4.3 percent in the quarter and 4.2 percent in the first half, far below the reported 59.4 percent quarterly increase. Capital expenditure also rose 51.2 percent to USD 234 million in the quarter, according to Yahoo Finance.

Analysts keep a Hold view

Seven research firms give Millicom a consensus Hold rating, with three Buy ratings, three Holds and one Sell. The average 12-month target is USD 85.68, below the October 2 price of USD 88.32, according to MarketBeat on October 3, 2026.

MarketBeat also lists JPMorgan's August 18, 2026 target at USD 105, raised from USD 100, while UBS had lifted its target from USD 90 to USD 100 in July. The spread between cash flow strength and bottom-line pressure explains why the consensus remains more cautious than the quarterly revenue headline.

Millicom stock trades below its yearly high

Millicom stock was last at USD 88.32 on Nasdaq on October 2, 2026, at 4:00 p.m. ET, with volume of 993,657 shares. Its 52-week range was USD 44.88 to USD 107.13, and market capitalization was USD 14.8 billion.