MTN Nigeria Communications (MTNN) Q1 2026 earnings summary

Executive summary

• Revenue grew 41.6% year-over-year to ₦1.50 trillion for Q1 2026, with operating profit up 84.5% and profit before tax up 169.6%.

• Net profit surged 165.9% to ₦355.5 billion, and EPS rose 166.1% to ₦16.95.

• Strong cash generation from operations and improved equity position, with total equity at ₦903.9 billion.

Financial highlights

• Revenue: ₦1,498,322 million (Q1 2026) vs ₦1,057,973 million (Q1 2025), up 41.6%.

• Operating profit: ₦632,305 million, up 84.5% year-over-year.

• Profit before tax: ₦546,421 million, up 169.6% year-over-year.

• Net profit: ₦355,501 million, up 165.9% year-over-year.

• Basic and diluted EPS: ₦16.95 (Q1 2026) vs ₦6.37 (Q1 2025).

• Market price per share at period end: ₦760.00, market capitalization ₦15.96 trillion.

Outlook and guidance

• Directors affirm going concern status, citing strong cash flows and compliance with loan covenants.

• No significant macroeconomic or regulatory risks anticipated; stable inflation and currency appreciation noted.

• Forecasts indicate sufficient operational cash flows to meet obligations.