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EarningsQ2 2026 Earnings Report
LBTYB Q2 2026 EPS Results
Actual EPS-$1.08
Consensus EPS-$0.48
Beat/MissMissed by -$0.61
One Year Ago EPS-$8.09
LBTYB Q2 2026 Revenue Results
Actual Revenue$1.17B
Expected Revenue$1.34B
Beat/MissMissed by -$171.06M
YoY Revenue Growth-7.65%
Earnings Announcement Details
QuarterQ2 2026
Date07/24/2026
TimeBefore Open
Conference CallFriday, July 24, 2026
LBTYB Upcoming Earnings
Liberty Global B's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear operational challenges—primarily heightened UK competition, ARPU pressure (fixed ARPU down ~4.6% YoY at VMO2), and near-term EBITDA/CapEx headwinds in several opcos—with substantial strategic progress and financial positives: confirmed 2026 guidance, material monetizations (≈$1.2B YTD and a ~$726M EdgeConneX exit with ~4x MOIC), regulatory approvals and accelerated timing for the Ziggo Group spin, corporate cost reductions (~75% lower net corporate cost vs two years ago) and an upgraded year-end corporate cash target ($1.5B to $2.0B). On balance the company demonstrated multiple credible levers to unlock value and reduce leverage over time while acknowledging short-term pressures, particularly in the UK.Company Guidance
Confirming 2026 Guidance
Management reconfirmed all 2026 guidance metrics across VMO2, VodafoneZiggo, Telenet and corporate adjusted EBITDA, providing consistency and visibility for the year.
Strong Commercial Quarter in the Netherlands (VodafoneZiggo)
VodafoneZiggo delivered its best consumer broadband performance in six years with the first positive broadband quarter since Q4 2022; fixed ARPU was stable at ~€56 and mobile ARPU ~€17.60 (down ~2% YoY); the quarter included ~32k new postpaid mobile subscribers.
Ziggo Group Spin-Off Progress & Regulatory Milestone
Major progress toward the Ziggo Group spin: Belgian regulator approved the fiber-sharing agreement with Proximus (creating a single fixed network across ~75% of Flanders); Vodafone's 50% Dutch stake acquisition is on track to close at month-end; timing for spin-off moved up to mid-2027 vs H2 2027.
Material Liberty Growth Monetizations and Cash Build
Year-to-date monetizations raised ~$1.2B (including ~$900M from Liberty Growth disposals). EdgeConneX exit produced ~$726M of total proceeds on ~$177M invested (~4x MOIC, ~30% IRR). Consolidated corporate cash ended Q2 at ~$2.4B and the year-end corporate cash target was increased from $1.5B to $2.0B.
Corporate Cost Reductions and Path to Break-Even
Corporate (central) net costs have been reduced by nearly 75% over the last two years following restructuring and headcount reductions; management expects corporate to approach breakeven as early as next year.
Refinancing and Treasury Progress
Completed ~$4.1B of financings YTD and refinanced more than $4B across credit silos; VodafoneZiggo refinanced ~€1.3B eliminating 2028 maturities; Wyre can access a €4.35B facility to rebalance debt between Wyre and Telenet.
Ireland Fiber Rollout Nearing Completion
Virgin Media Ireland fiber rollout is on track to be substantially complete by year-end and is expected to be free cash flow positive in Q4 for the first time since the upgrade program began.
Early, Measurable AI Benefits and Efficiency Targets
AI pilots are already driving results (e.g., personalization reached ~65% of VMO2 customers; generative AI pilots achieved ~75% call containment in the Netherlands). Management expects annual savings in the 'hundreds of millions' over time and highlighted potential OpEx savings of 20–40% broadly and up to ~70% in specific areas like customer care (illustrative, not formal guidance).
LBTYB Earnings History
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