Helios Towers' Q1 revenue, EBITDA climb on tenancy growth

Helios Towers

07/05/2026 07:12

Corrects Q1 free cash flow to -$30.2 mln from $9.7 mln in Key Details table, and third bullet of Overview to say co raised guidance for recurring free cash flow

Overview

The British mobile tower operator's Q1 revenue rose 12% yr/yr, driven by tenancy growth

Adjusted EBITDA for Q1 grew 14% yr/yr, supported by higher tenancy ratio

Company raised 2026 guidance for tenancy additions, adjusted EBITDA, and recurring free cash flow

Outlook

Helios Towers raises FY 2026 tenancy additions guidance to 3,000-3,500 from 2,000-2,500

Company expects FY 2026 adjusted EBITDA of $515m-$530m, up from $510m-$525m

Helios Towers sees FY 2026 recurring free cash flow of $215m-$230m, up from $210m-$225m

Result Drivers

TENANCY GROWTH - Co said revenue and adjusted EBITDA growth were largely driven by increased tenancies as mobile network operators expanded coverage

TENANCY RATIO EXPANSION - Adjusted EBITDA margin rose due to higher tenancy ratio, which the co said was margin accretive

WORKING CAPITAL IMPACT - Recurring free cash flow fell as working capital movements offset adjusted EBITDA growth, which co said reflected typical variability in customer payment timing

Company press release: ID:nRSG3212Da

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EBITDA
$127.20 mln
$125.25 mln (2 Analysts)
Q1 Free Cash Flow
-$30.2 mln
Q1 Operating Profit
$81.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Helios Towers PLC is GBp250.00, about 23% above its May 6 closing price of GBp203.20

The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 22 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)