IHS Holding Limited Reports Second Quarter 2026 Financial Results
IHS Holding Limited (NYSE: IHS) (âIHS Towersâ or the âCompanyâ), one of the largest independent owners, operators, and developers of shared communicatio

IHS Holding Limited, through its subsidiaries, is a leading provider in the telecommunications industry, specializing in the ownership, operation, and development of ...
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Est. EPS $0.30 · Revenue $420.45M · 1 analysts
Est. EPS $0.38 · Revenue $423.89M · 1 analysts
Est. EPS $0.78 · Revenue $1.79B · 1 analysts
Est. EPS $0.26 · Revenue $442.58M · 1 analysts
EPS $-0.03 · Revenue $428.60M
EPS $0.22 · Revenue $415.40M
EPS $0.42 · Revenue $1.58B
EPS $0.44 · Revenue $455.10M
EPS $0.10 · Revenue $433.30M
EPS $0.10 · Revenue $439.60M
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $1.6B | -7.6% | +3.2% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $143.6M | +108.8% | -111.6% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +54.6% | +13.9% | -13.2% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +16.8% | -39.9% | -33.1% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +9.1% | +109.5% | -111.3% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $417.5M | -9.3% | -29.3% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +26.4% | -1.9% | -31.4% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | -1396.8% | -62.8% | -6.0% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 2.08x | +56.1% | -4.0% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $4.5B | +5.0% | -6.6% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 0.42 vs 0.72 | -41.4% | -0.03 vs 0.12 | -121.7% |
| Revenue Surprise | $1.6B vs $1.8B | -9.6% | $428.6M vs $442.7M | -3.2% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Apr 7, 2026 | Howden Stephen J | officer: EVP, Chief Financial Officer | Ordinary Shares | D | 44,707 | $8.25 |
| Apr 7, 2026 | Howden Stephen J | officer: EVP, Chief Financial Officer | Ordinary Shares | D | 4,505 | $8.25 |
| Apr 7, 2026 | Darwish Mohamad | officer: EVP, IHS Nigeria CEO | Ordinary Shares | D | 25,412 | $8.24 |
| Apr 7, 2026 | Darwish Mohamad | officer: EVP, IHS Nigeria CEO | Ordinary Shares | D | 2,560 | $8.24 |
| Apr 7, 2026 | Darwish Sam | director, officer: Chairman and CEO | Ordinary Shares | D | 112,892 | $8.24 |
Operator: Good day, and welcome to the IHS Holding Limited Third Quarter 2025 Earnings Results Call for the three-month period ended September 30, 2025. Please note that today's conference is being webcast and recorded. At this time, I'd like to turn the conference over to Robert Berg. Please go ahead, sir. Robert Berg: Thank you, operator. Thanks to everyone for joining the call today. I'm Robert Berg, of Investor Relations here at IHS. With me today are Sam Darwish, our Chairman and CEO, and Steve Howden, our CFO. This morning, we filed our unaudited condensed consolidated interim financial statements for the three-month and nine-month periods ended September 30, 2025, with the SEC, which can now be found on the Investor Relations section of our website. We issued a related earnings release presentation and supplemental deck. These are the consolidated results of IHS Holding Limited, which is listed on the New York Stock Exchange under the ticker symbol IHS and which comprises the entirety of the group's operations. Before we discuss the results, I would like to draw your attention to the disclaimer set out at the beginning of the presentation on Slide two, which should be read in full along with the cautionary statement regarding forward-looking statements set out in our earnings release and 6-Ks filed as well today. In particular, the information to be discussed may contain forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, and other important factors that are difficult to predict and that may be beyond our control, including those discussed in the risk factors section of our Form 20-F filed with the Securities and Exchange Commission and our other filings with the SEC. As a result, actual results, performance, or achievements or industry results may be materially different from any future results, performance, or achievements or industry results expressed or implied by these forward-looking statements. We'll also refer to non-IFRS measures, including adjusted EBITDA, that we view as important in assessing the performance of our business, ALFCF, that we view as important in assessing the liquidity of our business, and consolidated net leverage ratio that we view as important in managing the capital resources of our business. A reconciliation of non-IFRS metrics to the nearest IFRS metrics can be found in our earnings presentation, which is available on the Investor Relations section of our website. And with that, I'd like to turn the call over to Sam Darwish, our Chairman and CEO. Sam Darwish: Thanks, Rob. Good morning, everyone, and welcome to our third quarter 2025 earnings results call. I'm pleased to report that we've delivered another quarter of strong results, ahead of expectations, with strong performance across all our key metrics: revenue, adjusted EBITDA, and ALFCF, while at the same time continuing to delever our balance sheet. This performance again underscores …
| Name | Title | Gender | Year Born | Status |
|---|---|---|---|---|
Sam Darwish | Chairman & Group Chief Executive Officer | — | 1971 | Active |
William S. Saad | Co-Founder, Executive VP, Group COO & Executive Director | — | 1972 | Active |
Ayotade Oyinlola | Executive Vice President & Chief Human Resources Officer | Male | 1975 | Active |
Mohamad Darwish | Co-Founder, Executive VP & CEO of IHS Nigeria | Male | 1980 | Active |
Mustafa Tharoo | Executive Vice President & Group General Counsel | Male | 1974 | Active |
Sandile Msimango | Vice President & Chief Executive Officer of IHS South Africa | Male | — | Active |
Steve Howden | Executive Vice President & Group Chief Financial Officer | Male | 1983 | Active |
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