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Helios Towers (8HT) Q3 2026 Earnings Report

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DE:8HT Q3 2026 EPS Results

Actual EPS
―
Consensus EPS
―
Beat/Miss
―
One Year Ago EPS
EUR 0.02

DE:8HT Q3 2026 Revenue Results

Actual Revenue
EUR 652.06M
Expected Revenue
EUR 218.80M
Beat/Miss
Beat by +EUR 433.26M
YoY Revenue Growth
―

Earnings Announcement Details

Quarter
Q3 2026
Date
11/05/2026
Time
Before Open
Conference Call
Thursday, November 5, 2026
DE:8HT Upcoming Earnings

Helios Towers's next earnings date is estimated for March 18, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

DE:8HT Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 05, 2026|% Change Since:14.46%|
Earnings Call Sentiment|Positive

The call was strongly positive, with record tenancy additions, double-digit revenue and EBITDA growth, improved returns on invested capital, upgraded 2026 guidance, a constructive 2027 outlook and significant long-term market opportunities. The lowlights were limited to an expected Q4 working capital reversal, slightly lower margins from power escalators, substantial remaining coverage gaps in the DRC, limited satellite-related activity and the planned reduction in upgrade CapEx.

Company Guidance

For 2026, Helios Towers expects around 4,000 tenancy additions, a 13% increase in its total tenancy base, roughly $535 million of EBITDA, a 14% year-on-year increase, recurring free cash flow greater than $235 million, representing growth of 13% year-on-year, discretionary CapEx of $230 million-$245 million, non-discretionary CapEx of $50 million, and shareholder distributions of more than $80 million; for 2027, it anticipates more than 3,000 additional tenancies, another year of double-digit EBITDA growth, over 10% EBITDA growth, further deleveraging, completion of the $175 million cumulative share buyback program by the end of 2027, and a 10% growth in its dividend; through 2030, IMPACT 2030 targets more than $1.3 billion of cumulative recurring free cash flow, more than $500 million of organic growth investment, more than 9% annually EBITDA growth, leverage of 2.5x-3.5x, more than $400 million of cumulative shareholder distributions, and 2.5x or more tenants per site.

  • Record Customer Demand and Tenancy GrowthHelios Towers added over 3,400 tenancies year to date, including 942 new sites, already significantly ahead of the 2,500 tenancies added throughout 2025. Total tenancies increased 12% year-on-year to 35,379, while total sites rose 7% year-on-year to 15,688. The tenancy ratio increased to 2.3x tenants per site from 2.2x a year earlier.
  • Strong Revenue, EBITDA and Cash Flow PerformanceQuarterly revenue increased 17% year-on-year to $252 million. EBITDA increased 13% year-on-year, and recurring free cash flow increased 10% to $134 million. Full-year 2026 guidance calls for roughly $535 million of EBITDA, representing 14% year-on-year growth, and more than $235 million of recurring free cash flow, representing 13% year-on-year growth.
  • Improving Returns on Invested CapitalReturn on invested capital increased by 40 basis points to 14.2%. Management stated that growth capital expenditure has historically delivered incremental returns on invested capital of more than 30%.
  • Upwardly Revised 2026 GuidanceThe company tightened full-year guidance upwards to around 4,000 tenancy additions, roughly $535 million of EBITDA, more than $235 million of recurring free cash flow, and more than $80 million of shareholder distributions attributable to 2026.
  • Accelerating Shareholder DistributionsHelios Towers repurchased $48 million of shares year to date, bringing total buybacks to $72 million since launching the program last November. The company increased its share buyback authorization by a further $100 million to $175 million and extended the program through the end of 2027. It also paid its inaugural interim dividend.
  • Strong Contracted Revenue VisibilityThe company reported a record $6.2 billion of future contracted revenues from high-quality multinational mobile operators. Approximately 70% of revenue comes from investment-grade customers, customer agreements typically have initial terms of 10 to 15 years and are largely non-cancellable, and the average remaining contract life is 6.4 years.
  • Resilient Long-Term Earnings Track RecordHelios Towers has grown EBITDA at a 23% compound annual growth rate over the past decade and delivered uninterrupted annual EBITDA growth throughout that period. The company is guiding to around $535 million of EBITDA for 2026, almost 10 times its 2015 level.
  • Favorable African Mobile Operator Investment OutlookCurrent consensus forecasts indicate that mobile operator CapEx in Africa is expected to increase by around 50% between 2025 and 2029, compared with 4% growth in the U.S., declines of 14% in Europe, 9% in Asia, and 7% in Latin America. Management said customers are increasing investment in network coverage, capacity expansion and technology upgrades.
  • Multi-Decade Addressable Market OpportunityBetween 2025 and 2040, the population across Africa and the Middle East is expected to increase by around 600 million people, or 33%, with around 65% of the population under age 30. Management expects around 800 million additional unique mobile subscribers, mobile internet penetration across its markets to increase by around 15%, and mobile data consumption to increase 12-fold by 2040.
  • Significant Future Tenancy RunwayThe company estimates around 72,000 additional addressable tenancies across its nine markets by 2040, roughly twice the size of its current tenancy portfolio. Management stated that this opportunity is within existing markets and does not require entering new countries or pursuing acquisitions.
  • IMPACT 2030 Capital Allocation TargetsIMPACT 2030 targets more than $1.3 billion of cumulative recurring free cash flow between 2026 and 2030, more than $500 million of organic growth investment, more than 9% annual EBITDA growth through 2030, and more than $400 million of cumulative shareholder distributions through 2030.
  • Disciplined Investment and Balance Sheet FrameworkThe company is prioritizing organic investment, including co-locations, OpEx initiatives and selective new builds, while targeting a 2.5x-3.5x leverage range. Management expects further deleveraging and increasing financial flexibility as earnings and cash flows grow.
  • Positive 2027 Initial OutlookManagement anticipates more than 3,000 additional tenancies in 2027, another year of double-digit EBITDA growth following around 14% expected growth in 2026, further net leverage reduction, completion of the $175 million cumulative share buyback program by the end of 2027, and 10% growth in the dividend.
  • Broad-Based Growth Across Markets and Use CasesManagement said tenancy growth is occurring in every market, including Senegal, Ghana, Madagascar and other smaller and medium-sized markets, alongside the larger markets. Demand includes coverage, capacity and technology upgrades, with the 5G cycle starting or having started in most markets.
  • Attractive Build-to-Suit and Co-Location MixThe company remains on track for a medium-term mix of roughly 75% co-locations and 25% builds, with the current tenancy ratio moving toward the IMPACT 2030 target of 2.5x or more tenants per site. New builds are being leased up in about two to three years, according to management.
  • Strong Hard-Currency and Contractual ProtectionThe company reported that 69% of revenue and 70% of adjusted EBITDA are in hard currency. Contractual CPI and power escalators provide protection against local inflation and power price movements, while four markets are innately hard currency through dollarization, dollar pegs or euro pegs.
  • High-Return Growth CapEx OpportunityNine-month overall CapEx was $196 million, including $173 million of discretionary CapEx supporting 3,435 tenancy additions and 942 new sites. Full-year CapEx guidance was tightened to $230 million-$245 million, and the $100 million of incremental growth CapEx announced earlier in the year is expected to deliver a return on invested capital of more than 25%.
  • Improving Liquidity and LeverageThe company reported a blended cost of debt of 6.7%, a weighted average debt maturity of just over three years, and more than $500 million of available cash and undrawn debt facilities. Net leverage declined by 0.2x year-on-year to 3.4x, with further reduction expected by year-end.
  • Operating Efficiency and Sustainability InitiativesManagement stated that hybrid and solar solutions can deliver attractive returns because fuel is the most expensive form of operating a site and falling deployment costs are improving the economics. These initiatives are intended to reduce fuel utilization, drive returns and improve the company's carbon footprint.
  • Strengthening Geospatial Planning CapabilitiesThe company's proprietary Geographic Information System has been used for more than 10 years and continues to incorporate additional satellite, crowdsourced and building-level data. Management said the system supports customer collaboration and helps identify coverage and capacity requirements, including solutions involving small towers, outdoor DAS and in-building systems.
  • Supplier Financing Supports CapEx DeploymentThe company entered supplier financing arrangements as CapEx increases, deferring some payments for CapEx items into late next year. Management described the arrangements as enabling the company to obtain returns from investments now while delaying payment.
  • Organic Growth Prioritized Over M&AManagement described M&A as toward the lower end of its priorities and said new sites in existing markets, co-locations and OpEx initiatives are more attractive because they use the existing invested capital base, market expertise and customer relationships. The company continues to monitor potential opportunities.

DE:8HT Earnings History

DE:8HT earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Mar 18, 20272026 (Q4)―-0.01――
Nov 05, 20262026 (Q3)―-0.02―
Jul 30, 20262026 (Q2)―0.050.02100.00% (+0.02)
May 07, 20262026 (Q1)―-0.05―
Mar 12, 20262025 (Q4)―0.010.05-85.00% (-0.04)
Nov 06, 20252025 (Q3)―--0.02―
Jul 31, 20252025 (Q2)―0.02-0.02230.00% (+0.04)
May 08, 20252025 (Q1)―--0.05―
Mar 13, 20252024 (Q4)―0.050.22-77.78% (-0.17)
Nov 07, 20242024 (Q3)―--0.04―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed