Zacks upgrades Millicom stock to Strong Buy as revenue hits USD 2.18 billion

Published on 10/08/2026 at 14:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Millicom stock posted USD 2.18 billion Q2 revenue, up 59.40 percent year over year. Adjusted EBITDA reached USD 1.01 billion.

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Millicom (LU0038705702) was upgraded from Hold to Strong Buy by Zacks Research in a note issued on October 8, 2026, while second-quarter revenue reached USD 2.18 billion. The upgrade contrasts with a sharp split in the latest operating figures, as adjusted EBITDA rose to USD 1.01 billion but net profit attributable to company owners fell to USD 109.00 million.

Analyst signal meets mixed results

According to MarketBeat, Zacks Research moved Millicom from Hold to Strong Buy on October 8, 2026. The same report said seven analysts covered by its overview included one Strong Buy, three Buy, two Hold and one Sell rating.

The latest reported quarter delivered scale but also a profitability warning. As Yahoo Finance reported on September 17, 2026, service revenue rose 60.10 percent year over year to USD 2.04 billion in the second quarter of 2026, while net profit dropped 83.90 percent to USD 109.00 million from USD 676.00 million.

What do the numbers mean for margins?

Millicom's organic service-revenue growth was 4.30 percent in the second quarter of 2026, far below the 59.40 percent reported increase. That comparison matters because acquisitions in Colombia, Ecuador and Uruguay supplied much of the reported expansion, while adjusted EBITDA increased 58.00 percent to USD 1.01 billion.

Cash generation provided the stronger counterweight. Equity free cash flow reached USD 327.00 million in the second quarter of 2026, up 50.10 percent year over year, and management raised full-year 2026 equity free cash flow guidance from at least USD 900.00 million to USD 1.10 billion, according to Yahoo Finance on September 24, 2026.

Millicom's recent milestones

On May 20, 2026, Millicom's annual meeting approved dividend distributions totaling USD 3.00 per share, according to Affarsvarlden. On August 6, 2026, the company reported USD 2.18 billion in second-quarter revenue and raised its full-year cash-flow target to USD 1.10 billion. On October 8, 2026, Zacks Research upgraded the stock from Hold to Strong Buy, as reported by MarketBeat.

Next dividend date

Millicom's next substantiated cash distribution date is October 15, 2026, when shareholders are scheduled to receive USD 0.75 per share, according to Futu News on October 7, 2026.

Valuation and trading context

Millicom had a market capitalization of USD 15.2 billion as of October 7, 2026. Its 52-week range was USD 44.88 to USD 107.13, placing the latest structured quote below the yearly high while the analyst upgrade points to a more constructive view of the operating trajectory.