Orange SA (ORANN) Q3 2026 Earnings Report
MX:ORANN Q3 2026 EPS Results
- Actual EPS
- MXN 6.87
- Consensus EPS
- MXN 6.89
- Beat/Miss
- Missed by -MXN 0.02
- One Year Ago EPS
- MXN 6.96
MX:ORANN Q3 2026 Revenue Results
- Actual Revenue
- ―
- Expected Revenue
- MXN 252.15B
- Beat/Miss
- ―
- YoY Revenue Growth
- ―
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- Before Open
- Conference Call
- Tuesday, October 27, 2026
MX:ORANN Upcoming Earnings
Orange SA's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:ORANN Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. Orange reported broad-based revenue, EBITDAaL and operating cash flow growth, raised full-year EBITDAaL guidance to above 4.5%, and highlighted strong commercial momentum, particularly in Africa and the Middle East, France and Europe 6. The main challenges were the decline in Orange Business revenue, continued negative service revenue in Spain, French ARPU pressure, macroeconomic and political uncertainty, limited initial Skylo adoption and a temporary mobile network outage.
Company Guidance
Orange upgraded its full year EBITDAaL growth guidance to above 4.5%, while eCapEx to sales is expected to be around 15%; France is expected to deliver stable plus EBITDAaL growth for 2026, including H2 stable plus EBITDAaL, Spain is expected to deliver low single-digit EBITDAaL growth in H2, Africa and Middle East is expected to achieve double-digit EBITDAaL growth for the full year, and Europe 6 is expected to deliver mid-single-digit EBITDAaL growth for the full year. Orange also reiterated its 2026-2028 guidance of an EBITDAaL CAGR of plus 3%, with the signing of the SFR transaction planned by the end of this year, 2026 and closing by the end of 2027.
- Strong Q3 Group Performance and Raised GuidanceQ3 revenue grew 3.6% to EUR 12.2 billion, EBITDAaL increased 4.6%, and operating cash flow grew 10.3%. Revenue increased across all geographies, and full-year EBITDAaL growth guidance was upgraded to above 4.5%.
- Disciplined Investment and Efficiency ProgresseCapEx to sales decreased during the quarter and remained in line with the full-year guidance of around 15%. EBITDAaL growth was supported by continued focus on efficiencies, and the company said its efficiency plans remain firmly on track.
- Strong France Commercial MomentumFrance delivered record net adds across mobile, fixed and convergence, with convergence net adds of 57,000, the highest since 2018, and mobile net adds of 146,000. Mobile churn declined by more than 1 point year-on-year and fixed broadband churn decreased by more than 2 points year-on-year.
- France Customer Satisfaction and Retail ResilienceFrance revenue increased 0.5% in Q3, while retail revenue excluding PSTN grew 1.1%, compensating for the decline in PSTN. Orange maintained an NPS of 36, which was 9 points ahead of its closest competitors, as well as best-in-class churn across all segments.
- Spain Revenue and New Services GrowthSpain revenue increased 3.5% in Q3, supported by wholesale and equipment sales. Services revenue improved sequentially by 0.5 points, while B2B expansion, positive fixed and mobile net adds, convergence ARPU growth and 169,000 customers subscribing to financial services, home security, energy or insurance supported the outlook for low single-digit EBITDAaL growth in H2.
- Exceptional Africa and Middle East PerformanceAfrica and Middle East revenue increased by more than 14%, with 10 countries growing double digit. Fixed broadband, data, Orange Money and B2B each grew above 14%, and the company reported its 14th consecutive quarter of double-digit revenue growth, reinforcing confidence in achieving double-digit EBITDAaL growth for the full year.
- Europe 6 and Poland GrowthEurope 6 revenue increased 5.3% in Q3, reflecting acceleration in convergence as well as IT and integration services. Convergence ARPU grew 5% in Poland, while Orange Poland revenue increased close to 8% and the company confirmed its outlook for mid-single-digit EBITDAaL growth in Europe 6 for the full year.
- Fiber Footprint Expansion in PolandThe acquisition of Nexera expanded Orange's fiber footprint by 30% and strengthened the growth prospects of its FiberCo joint venture.
- Orange Cyberdefense and Trusted Cloud ExpansionOrange Business obtained a new SecNumCloud qualification and was selected to provide the European Union's backbone network for trusted data exchange. Orange Cyberdefense grew 12% and reached EUR 1 billion in revenue over nine months.
- Max-It User Growth in Middle East and AfricaThe Max-It super app reached 38.5 million active users, representing a 1.8x year-on-year increase.
- Satellite Connectivity Partnerships and Network InnovationOrange signed a letter of intent with Deutsche Telekom, Telefonica and Vodafone to prepare a potential joint bid for mobile satellite services spectrum in Europe. Orange also conducted a 50G-PON test in Belgium that achieved near-zero latency.
- Customer Experience and Product InitiativesIn France, Orange launched a new home cinema set-top box for high-end customers, a 5G+ Fast Pass for dedicated connectivity at major events and an Orange Marketplace featuring over 8,000 high-tech products. Poland also launched a B2C cyber app to protect users from cyber threats.
- Operational Simplification and Network MilestonesThe integration of MASORANGE was completed and the business was renamed Orange Espana. Orange also completed the closure of its 2G network in France and tested an AI scanner for the fixed network to detect anomalies and prevent disruption.
- Strong Financing and Balance Sheet PositionOrange issued a EUR 4.1 billion bond at attractive conditions that was 4x oversubscribed. Around 90% of existing debt was at fixed rates; management later specified that the fixed-rate component was 92%, with a 7.2-year maturity and EUR 11 billion of available cash as of June, excluding the incremental bond proceeds.
- Orange Money Underlying Activity GrowthOrange Money revenue continued to grow, supported by more than a 50% increase in merchant payments and more than a 50% increase in microcredit over the last six months, alongside greater integration of services into the Max-It digital platform.
- Cybersecure Customer ExpansionOrange's Cybersecure product had more than 400,000 customers, with additional services being prepared for both B2C and B2B professional customers.
- Planned Efficiency and AI TransformationManagement said efficiency remains a top focus, with an acceleration expected in the second half of 2026 compared with the first half. AI, resource mutualization and operational transformation were expected to continue supporting efficiency in 2027.
- Progress on SFR TransactionOrange said the SFR transaction remained on schedule, with signing planned by the end of 2026 and closing by the end of 2027, subject to regulatory approvals. The antitrust process was progressing in parallel, and management said the transaction's performance trend was currently as foreseen.
MX:ORANN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 18, 2027 | 2026 (Q4) | 6.87- | 7.67 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | 6.896.87 | 6.96 | -1.34% (-0.09) | |
| Jul 28, 2026 | 2026 (Q2) | 5.1112.90 | -1.49 | 963.75% (+14.39) | |
| Apr 23, 2026 | 2026 (Q1) | 4.375.11 | 5.09 | 0.37% (+0.02) | |
| Feb 18, 2026 | 2025 (Q4) | 7.117.67 | 5.84 | 31.31% (+1.83) | |
| Oct 23, 2025 | 2025 (Q3) | 7.616.96 | 8.29 | -15.99% (-1.33) | |
| Jul 29, 2025 | 2025 (Q2) | 5.09-1.49 | 3.28 | -145.45% (-4.78) | |
| Apr 24, 2025 | 2025 (Q1) | 4.635.09 | 2.63 | 93.62% (+2.46) | |
| Feb 13, 2025 | 2024 (Q4) | 7.975.84 | 5.82 | 0.32% (+0.02) | |
| Oct 24, 2024 | 2024 (Q3) | 8.198.29 | 9.61 | -13.79% (-1.33) |
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
