EarningsQ2 2026 Earnings Report
MX:ORANN Q2 2026 EPS Results
Actual EPS$12.49
Consensus EPS$4.95
Beat/MissBeat by +$7.54
One Year Ago EPS-$1.45
MX:ORANN Q2 2026 Revenue Results
Actual Revenue$441.64B
Expected Revenue$219.58B
Beat/MissBeat by +$222.05B
YoY Revenue Growth+12.69%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
MX:ORANN Upcoming Earnings
Orange SA's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ORANN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive tone: management reported a record H1, upgraded full-year guidance (EBITDAaL >4% and organic cash flow ~EUR 4.3bn), confirmed MasOrange and Scorefit are accretive/captured in plans, showed clear operational momentum in France, stabilization in Spain, and strong growth drivers in Africa & Middle East (mobile data and Orange Money). Key execution initiatives — data center JV, satellite trials, and B2B wins — provide upside. The main negatives are regulatory timing risk on the French consolidation (possible 18-month review), accounting-driven near-term EBITDAaL drag in Spain (IFRS3), competitive pricing pressure in parts of Spain, wholesale/PSTN headwinds in France, and the balance-sheet impact of Scorefit and local wildfire disruption. Overall, highlights substantially outweigh the lowlights.Company Guidance
Upgraded 2026 Guidance and Strong H1
Company reported a record H1 and raised 2026 guidance (now including MasOrange for 7 months). EBITDAaL guidance increased to above 4% and organic cash flow guidance was upgraded to circa EUR 4.3 billion.
MasOrange Accretion
MasOrange consolidation is cash-accretive and expected to deliver immediate EBITDAaL accretion of around EUR 900 million; transaction expected to be low CapEx intensity and contributed to the upgraded organic cash flow guidance.
Strong Commercial Momentum in France
France delivered positive commercial performance with 62,000 fixed net adds and 84,000 mobile net adds. Fixed broadband and convergence ARPUs increased with premium offers (Livebox Max) performing well; adjacent services growing faster than the 5% strategic target.
Spain: Stabilizing Service Revenues and B2B Growth
Service revenue trends in Spain stabilized (neutral in June). Retail remains competitive but B2B and new businesses are growing (major contract wins cited). Management expects to meet low single-digit EBITDAaL growth in H2 and MasOrange is cash accretive to the group.
Africa & Middle East Acceleration
Guidance for Africa, Middle East was upgraded. Mobile data is the main driver with traffic growing ~25% year-over-year and Orange Money net adds ~50% higher versus last year. Group is investing in 4G/CapEx and plans to double fiber footprint in key markets over the coming 3 years.
Data Center JV to Unlock Value
Announced creation of a co-controlled data center platform to professionalize and scale existing assets (five future‑proof data centers initially). Project intended to be asset-contribution based (no Orange equity injection), deliver dividends, generate revenues/margins for Orange Business, and has potential scale (project references up to ~400 MW and capacity that could be multiplied ≈ x10).
Scorefit Acquisition Closed
Scorefit closing completed in July. The transaction was presented as industrially sensible to internalize financing monetization activities; financial effects (including the IFRS debt increase of ~EUR 1.3 billion) were already considered in prior guidance and efficiency targets.
Proactive Satellite and Partner Strategy
Multiple satellite trials/partnerships underway (Skylo in France, Starlink trial in Spain, AST in Romania, Eutelsat OneWeb in Africa). Strategy focuses on complementing terrestrial networks, mastering handover/experience, and avoiding simple MVNO-only deals.
MX:ORANN 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