TPG Telecom Posts "Good" H1 Result, Jefferies Says

MT Newswires Live10:33

TPG Telecom (ASX:TPG) delivered a "good" result for the first half of the year, with earnings before interest, taxes, depreciation, and amortization (EBITDA) of AU$821 million in line with the consensus forecast, Jefferies said in a Friday note.

The telecommunications company logged AU$0.036 in underlying EPS compared with AU$0.037 a year ago.

Revenue was AU$2.43 billion for the six months ended June 30 versus AU$2.45 billion previously. It is 3% below the consensus forecast of AU$2.49 billion because of lower handset sales, Jefferies said.

The company reaffirmed its fiscal 2026 EBITDA guidance of AU$1.67 billion to AU$1.74 billion, with a skew towards the fiscal second half underpinned by improving trends.

Capital expenditure is anticipated to be around AU$750 million, excluding spectrum.

Jefferies maintained a hold rating and AU$3.80 price target on TPG.

TPG shares rose 6% in midday trade on Friday.

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