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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
MTN Nigeria Communications
MTN Nigeria Communications (MTNN) investor relations material
MTN Nigeria Communications Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary2 Nov, 2026
Executive summary
9M service revenue grew 23.7% to N4,586.0bn; Q3 growth rebuilt to 19.7% YoY and 8.4% QoQ, with momentum increasingly volume-led.
9M EBITDA increased 36.8% to N2,624bn, PAT rose 55.3% to N1,165.2bn, and free cash flow grew 57.5% to N1,169.7bn.
Financial highlights
9M total revenue rose 23.6% to N4,613.3bn; operating expenses grew 8.5%, below revenue growth, while depreciation and amortisation increased 32.6%.
Operating profit increased 38.2% to N1,992.5bn; net finance costs fell 25.3% to N277.0bn, and net FX gain was N80.1bn.
Net cash from operating activities reached N2.31tn, compared with N1.56tn in 9M 2025.
Outlook and guidance
Medium-term targets remain average service revenue growth of at least low-20% and EBITDA margin in the mid-to-high-50% range; FY26 remains on track.
Medium-term capex intensity guidance is unchanged; 9M capex intensity was 18.7%.
Q4 priorities include subscriber and usage growth, broadband and fintech scale-up, airtime/data-credit recovery, expense efficiency, network investment and sustainable shareholder returns.
Airtime/data-credit recovery is targeted to reach expected levels by end-November 2026; XtraTime was expected to return to normal levels in Q4.
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Latest events from MTN Nigeria Communications
- Revenue growth held strong, but naira-driven forex losses turned earnings negative.MTNN
Q4 2023 - Revenue and profit surged, EPS climbed 70.6%, and an interim dividend of N26.00 per share was approved.MTNNQ2 2026
- Revenue grew but losses deepened; all resolutions passed and recovery plans are underway.MTNNAGM 2025
- Net profit surged 165.9% on strong revenue and EBITDA growth, with robust cash flow.MTNNQ1 2026
- Revenue and EBITDA surged, with strong cash flow and reduced forex risk supporting financial strength.MTNNQ4 2025
- Profit after tax rose to N750.2bn, revenue up 57.5%, and EBITDA margin reached 51.4%.MTNNQ3 2025
- Service revenue and PAT surged, with robust growth in data, fintech, and EBITDA margin.MTNNQ2 2025
- Forex losses led to a N514.9 billion loss despite 33.6% service revenue growth.MTNNQ3 2024
- Strong revenue growth offset by forex losses, leading to a N519.1bn loss after tax.MTNNQ2 2024
Next MTN Nigeria Communications earnings date
Q4 20265 Mar, 2027
MTN Nigeria Communications
Next MTN Nigeria Communications earnings date
Q4 20265 Mar, 2027
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Frequently asked questions
MTN Nigeria Communications PLC is a Nigeria-based telecommunications company that provides a wide range of voice, data, digital, fintech, and enterprise services. It operates mobile and fixed networks, offering solutions for individuals, businesses, and government organizations across Nigeria. The company’s services include mobile voice and internet, mobile financial services, enterprise connectivity, and digital content distribution. MTN Nigeria is a subsidiary of MTN Group Limited, a multinational telecommunications group. The company is headquartered in Lagos, Nigeria, and its shares are listed on the NGX.