IHS Holding Q3 Net Loss Widens, Revenues Down; Backs FY23 Outlook; Stock Down In Premarket

(RTTNews) - IHS Holding Limited (IHS), a shared telecommunications infrastructure provider in Africa, reported Tuesday that its third-quarter loss was $265.35 million, sharply wider than last year's loss of $36.65 million.

Adjusted EBITDA was $232.0 million, compared to $274.4 million a year ago. Adjusted EBITDA margin was 49.7 percent, down from 52.6 percent last year.

During the third quarter, revenue was $467.02 million, a decrease of 10.4 percent from last year's $521.3 million. Organic revenue growth was 30.6 percent

Looking ahead for fiscal 2023, the company continues to expect adjusted EBITDA of $1.13 billion to $1.15 billion and revenue of $2.08 billion to $2.11 billion.

Organic revenue growth would be approximately 34 percent, or 31 percent when excluding the $48.1 million non-recurring revenue in first quarter 2023.

In pre-market activity on the NYSE, the shares were trading at $5.40, down 3.05 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.