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Liberty Global B (LBTYB)
NASDAQ:LBTYB
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-3.84Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call combines several near-term operational headwinds (Q4 revenue and EBITDA declines across major OpCos, elevated commercial competition, and incremental 2026 investments that depress near-term EBITDA and free cash flow) with substantial strategic positives: two large transformational transactions (Vodafone stake acquisition and the Nexfibre/Substantial Group deal) intended to create scale, meaningful synergy potential (estimated ~EUR 1.0 billion for Ziggo combination), a planned 2027 public listing and spin-off of Ziggo, large refinancing actions (~USD 15 billion refinanced), dramatic corporate cost reductions (~75% net corporate spend reduction), and a focused growth portfolio with monetization potential. Management provided explicit 2026 guidance that incorporates investment-driven declines and showed clear liquidity and capital-allocation plans (cash targets, asset disposals, no primary equity raise). On balance, the strategic actions and financial-engineering (deleveraging roadmap, asset monetization plans, and cost reductions) are positioned to unlock significant shareholder value over the medium term, outweighing the near-term operational declines and execution/contingent risks.Company Guidance
Strategic M&A to Unlock Telecom Value
Announced acquisition of Vodafone's 50% stake in VodafoneZiggo for EUR 1.0 billion cash plus 10% of new Ziggo Group equity, with intention to list Ziggo on Euronext in 2027 and spin 90% to Liberty Global shareholders. Management expects ~EUR 1.0 billion of NPV from operational synergies and incremental service revenues and targets ~4.5x leverage and ~USD 500 million of annual free cash flow by 2028.
Major U.K. Nexfibre / Substantial Group Transaction
Nexfibre (50/50 JV with InfraVia) to acquire Netomnia and Substantial Group creating a platform reaching ~8 million fiber homes by end-2027. Total equity injection ~GBP 1.0 billion (InfraVia GBP 850m; Liberty & Telefónica GBP 150m — Liberty direct cash responsibility GBP 75m) plus ~GBP 2.7 billion debt facility. Nexfibre will distribute ~GBP 2.0 billion (GBP 950m to Substantial, GBP 1.1bn to VMO2). VMO2 receives ~500k subscribers, capex avoidance NPV ~GBP 800m and managed services NPV ~GBP 400m; VMO2 gets a direct equity stake in Nexfibre 2.0.
Refinancing and Strong Treasury Activity
Refinanced close to USD 15 billion across credit silos, fully refinanced 2028 maturities at VMO2 and VodafoneZiggo via term loans, senior secured notes and private taps. Committed financing for Wyre at EUR 4.35 billion (contingent on approval). Consolidated cash ended FY2025 at USD 2.2 billion and pro forma cash expected around USD 1.5 billion at end-2026 after transactions and further disposals.
Corporate Restructuring and Cost Reduction
Reshaped corporate operating model and reduced net corporate spend by ~75% over the last 12 months. Liberty Services and Corporate closed 2025 at negative USD 130 million adjusted EBITDA, ~USD 20 million better than the USD 150 million target.
Delivered on Guidance Across OpCos
Operating companies in the U.K., Netherlands and Belgium delivered on full-year guidance metrics for 2025 despite headwinds. Management highlighted commercial and network momentum, improvement in Q4 performance across several OpCos and benefits from initial AI initiatives.
Liberty Growth Portfolio and Asset Progress
Liberty Growth fair market value ~USD 3.4 billion; portfolio concentrated (5 assets = 70% of value). Positive developments include Formula E progress, data centers (EdgeConneX and AtlasEdge) supporting >USD 1 billion year-end valuation, Egg Power securing GBP 400 million senior debt for ~400 MW projects, and Believ reaching 2,500 public charging sockets averaging ~GBP 1,500 EBITDA per socket with ~23,000 awarded.
Liberty Blume and Tech/AI Momentum
Liberty Blume delivered >20% revenue growth in 2025, achieving >GBP 100 million revenue with ~GBP 400 million order book and initial valuation GBP 100 million. Company investing in AI (strategic investment in 11 labs) and moving in-house AI capabilities into Growth to commercialize externally.
Capital Allocation Discipline
Maintained disciplined capital allocation: reduced buyback target from 10% to 5% in anticipation of transactions (repurchased 5% of outstanding shares during the year), have a history of significant buybacks (~USD 15 billion over 9 years, shares outstanding down ~63%). Management emphasizes rotating capital into high-return growth/infrastructure assets.
LBTYB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
LBTYB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $13.37 | $14.08 | +5.29% |
Oct 30, 2025 | $11.71 | $11.00 | -6.06% |
Aug 01, 2025 | $10.20 | $10.40 | +1.96% |
May 02, 2025 | $11.10 | $9.80 | -11.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Liberty Global B (LBTYB) report earnings?
Liberty Global B (LBTYB) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is Liberty Global B (LBTYB) earnings time?
Liberty Global B (LBTYB) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LBTYB EPS forecast?
Currently, no data Available