IHS (IHS) Q1 2026 earnings summary

Executive summary

• Revenue from continuing operations reached $415.4M in 1Q26, up 6% year-over-year, with discontinued Latam operations contributing $51.8M, up 9% year-over-year.

• Adjusted EBITDA grew 6.4% year-over-year to $269M, and income for the period surged to $77M from $30.7M, driven by favorable FX and lower interest payments.

• Adjusted Levered Free Cash Flow (ALFCF) increased 15.8% year-over-year to $174M, supported by reduced net interest payments.

• Total Capex decreased 5.3% year-over-year to $41M, reflecting a narrowed focus on capital allocation.

• Announced strategic sales: proposed sale to MTN Group at $6.2B enterprise value, Latam towers to Macquarie for $952M, and I-Systems stake to TIM S.A. for $453M (completed in May 2026).

Financial highlights

• Revenue from continuing operations was $415.4M, with discontinued operations contributing $51.8M.

• Adjusted EBITDA margin was 64.8% in 1Q26; total margin 57.5%.

• ALFCF cash conversion rate improved to 64.6% from 59.3% year-over-year.

• Cash and cash equivalents stood at $967M, with an additional $300M undrawn revolving credit facility.

• Capital expenditure decreased 5.3% to $41.4M, mainly due to lower discretionary and fiber capex.

Outlook and guidance

• Continued focus on financial discipline, cash flow generation, and capital allocation.

• Expectation to publish the 8th Sustainability Report in 2Q26, with ongoing alignment to UN Sustainable Development Goals.

• Proposed sale to MTN Group expected to close in 2026, marking a strategic milestone for future development.

• Management highlights continued commercial momentum and disciplined execution as drivers for ongoing growth.