Millicom International Cellular SA SEDR

TIGO SDB: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SEK 755.00	Gxznlz	Wqwyfgm

Millicom Earnings: Execution Struggles Continued as Expected Following June Warning

Michael Hodel

Jul 28, 2023

As telegraphed in its earnings warning at the end of June, Millicom’s operational struggles continued during the second quarter. Consolidated profitability remains under pressure as revenue growth has lagged inflation and the firm spends on restructuring efforts. We are leaving our fair value estimate at $30 as we expect Millicom will take steps in the coming quarters to improve its overall position.

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