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Turk Telekomunikasyo (TRKNF) Q3 2026 Earnings Report

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TRKNF Q3 2026 EPS Results

Actual EPS
$0.04
Consensus EPS
―
Beat/Miss
―
One Year Ago EPS
$0.06

TRKNF Q3 2026 Revenue Results

Actual Revenue
$1.72B
Expected Revenue
$1.68B
Beat/Miss
Beat by +$37.57M
YoY Revenue Growth
+45.12%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/04/2026
Time
During Market Hours
Conference Call
Wednesday, November 4, 2026
TRKNF Upcoming Earnings

Turk Telekomunikasyo's next earnings date is estimated for February 3, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

TRKNF Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 04, 2026|% Change Since:9.04%|
Earnings Call Sentiment|Positive

The call was predominantly positive, with strong third-quarter revenue, EBITDA, subscriber additions, free cash flow, broadband performance, mobile momentum, maintained guidance, and continued progress in fiber and 5G investments. The main negatives were the 42% year-on-year net profit decline, margin and cost pressures, higher leverage and FX liabilities related to 5G and concession payments, and ongoing macroeconomic volatility. Management remained confident in continued growth through the fourth quarter and 2027.

Company Guidance

Management maintained full year 2026 operating revenue growth guidance at approximately 8% and 2026 EBITDA margin guidance within the 41% to 42% guidance range; CapEx intensity is expected to reach 34% at year-end. Fixed broadband is targeting high single-digit real ARPU growth for 2026 full year and expects strong real ARPU growth to continue in 2027, while mobile ARPU growth is expected to remain positive in the last quarter of this year and continue in the next year, with meaningful ARPU growth targeted in 2027. The next wholesale adjustment is to be implemented in January 2027, and the 5G rollout will take 2 to 3 years of time from now, with 5G compatible device penetration across Turkey estimated at around 25% to 30%.

  • Strong Third-Quarter Revenue and EBITDA GrowthConsolidated revenue increased 12% year-on-year to TRY 86 billion, or 11% excluding the IFRIC 12 accounting impact. EBITDA grew 7% year-on-year to TRY 37 billion, with a 43% EBITDA margin.
  • Robust Demand and Operating MomentumManagement said the business performed much more strongly in the third quarter than in the first half, with no material shifts in demand or subscriber behavior apart from usual seasonality. Mobile data consumption growth remained robust, supported by high-quota 5G plans, while fixed internet activity was relatively stronger during the high season.
  • No Exposure to Recent Market Fund IssuesTurk Telekom reported no exposure or risk related to the recent Turkish market volatility and investment fund issues, citing robust financial risk management and capital allocation practices.
  • Subscriber Base Expansion and Low ChurnThe total subscriber base reached almost 58.5 million after 905,000 net additions quarter-on-quarter. Fixed broadband subscribers increased by 26,000, retail broadband subscribers by 83,000, and mobile subscribers by 670,000. Excluding 121,000 losses in fixed voice, quarterly net additions would have exceeded 1 million. Retail churn was the lowest recorded in the third quarter.
  • Fixed Internet Revenue and ARPU GrowthFixed internet revenue increased 7% year-on-year and ARPU also grew 7%, supported by upselling, recontracting performance, and price revisions. Management is targeting high single-digit real ARPU growth for full-year 2026 and expects strong real ARPU growth to continue in 2027, supported by pricing actions, speed upsells, FTTH expansion, and recontracting.
  • Higher Broadband Speeds and Premium Package AdoptionThe average package speed increased 59% year-on-year to 137 megabits per second. The share of subscribers using packages of 100 megabits per second or higher rose to 45% from 30% a year earlier.
  • Improving Mobile Revenue and ARPU TrendsMobile revenue increased 2% year-on-year in the third quarter compared with flat year-to-date growth. Mobile ARPU excluding M2M declined 1% year-on-year in the quarter but turned positive in September and was also positive in October. Management expects positive mobile ARPU growth in the last quarter of 2026 and into 2027.
  • Postpaid and 5G Tariff MomentumThe postpaid subscriber ratio increased 2.4 percentage points year-on-year to more than 80%. High-quota 5G tariffs supported upselling, recontracting, and ARPU performance, while management expects meaningful ARPU growth in 2027 from cumulative pricing actions and 5G-driven upsell performance.
  • Broad-Based Operational Revenue GrowthOperational revenue exceeded TRY 79 billion, increasing 11% year-on-year. All business lines except fixed voice recorded real growth. Fixed internet and mobile together represented 73% of operational revenue and contributed TRY 2.3 billion of year-on-year growth, while ICT solutions and equipment sales contributed TRY 4.6 billion of incremental revenue. Corporate data and international revenues added a further TRY 1 billion.
  • Large Digital Infrastructure ProjectsAs a technology master partner, Turk Telekom will provide the end-to-end communication and technology infrastructure for COP31 in Antalya. Management described this as a major example of the private- and public-sector digital projects undertaken by the group.
  • Free Cash Flow Growth and Quarterly Profit ImprovementUnlevered free cash flow reached TRY 10 billion, up 39% year-on-year, mainly due to higher operational cash flow generation in the third quarter. Net income was TRY 7.7 billion, an increase of 22% quarter-on-quarter.
  • Continued Fiber and 5G InvestmentCapital expenditure excluding solar investments and license payments totaled TRY 28 billion, compared with TRY 23 billion a year earlier, reflecting 5G rollout expenditures and strong progress in fiber investments. Fixed-line investments, particularly fiber access and core networks, represented 50% of spending, while mobile accounted for 31%.
  • 5G Rollout and Device Adoption ProgressTurk Telekom has prioritized high-traffic locations, including C-band coverage in heavy data-traffic areas and DSS coverage in lower-traffic areas. Management estimates that 5G-compatible device penetration across Turkey is around 25% to 30%, said subscribers are accumulating on 5G tariffs, and expects the rollout to take 2 to 3 years from now.
  • Guidance MaintainedThe company maintained its full-year 2026 operating revenue growth guidance at approximately 8%, its 2026 EBITDA margin guidance, and its first-nine-month EBITDA margin guidance range of 41% to 42%. CapEx intensity was 30.3% for the first nine months, with year-end expected to reach 34% in line with guidance.
  • Improving Hedging Costs and New FinancingHedging transaction costs declined from 33% to 34% in the second quarter to 30% to 31% in the third quarter, with further declines expected if current conditions continue. The company also signed a USD 1 billion long-term club loan agreement with 14 global banks, supporting its financing structure and liquidity position.

TRKNF Earnings History

TRKNF earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 03, 20272026 (Q4)―-0.01――
Nov 04, 20262026 (Q3)―0.040.06-25.04% (-0.01)
Aug 05, 20262026 (Q2)―0.030.0322.25% (+0.01)
May 06, 20262026 (Q1)―0.060.03103.68% (+0.03)
Mar 04, 20262025 (Q4)―0.010.03-66.02% (-0.02)
Nov 04, 20252025 (Q3)―0.060.01795.11% (+0.05)
Aug 13, 20252025 (Q2)―0.030.01243.10% (+0.02)
May 07, 20252025 (Q1)―0.030.01392.28% (+0.02)
Mar 10, 20252024 (Q4)―0.030.07-59.14% (-0.04)
Nov 06, 20242024 (Q3)―0.010.01-48.91% (-0.01)

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