Vodafone has made significant progress through transformation and restructuring efforts, leading to strong performances in the U.K. and growth markets like Africa and Turkey. However, challenges remain in Germany and the B2B segment, impacting the overall outlook.

Company Guidance -

Q2 2026

During the call, Vodafone provided extensive guidance for the fiscal year 2026, highlighting a series of financial metrics and strategic priorities. The company expects adjusted EBITDAaL for the group to range between €11 billion and €11.3 billion, with a specific target of €7.2 billion to €7.4 billion for Europe. Additionally, Vodafone anticipates a significant acceleration in group adjusted free cash flow growth, forecasting a range between €2.6 billion and €2.8 billion. The impact of the U.K. merger is projected to contribute around €400 million to EBITDAaL, while posing approximately a €200 million drag on adjusted free cash flow for the full year due to front-loaded investments. The company also detailed a continued commitment to shareholder returns, having returned €2 billion through buybacks and €1.8 billion in dividends over the last year, with the first tranche of a new €2 billion buyback program commencing immediately. Vodafone aims to improve its customer experience, as evidenced by record Net Promoter Scores in the U.K. and Germany, and expects continued growth in its adjusted free cash flow, driven by strong performances in the U.K., Africa, and Turkey, alongside its transformation efforts in Germany.

Transformation and Restructuring Success

Vodafone has undergone significant transformation, including the sale of operations in Spain and Italy, and the merger with Three U.K. This has led to a simplified structure, improved customer experience, and a €2 billion return to shareholders through buybacks and dividends.

Strong U.K. Performance

The U.K. segment reported strong EBITDA growth of 8%, with record low customer churn and market-leading Net Promoter Scores (NPS) in both mobile and fixed broadband.

Positive Outlook in Africa and Turkey

Vodafone's operations in Africa and Turkey have strong local positions and growth opportunities, contributing significantly to free cash flow growth in euros.

Guidance for FY '26

Vodafone expects adjusted EBITDAaL for FY '26 to be between €11 billion and €11.3 billion, with adjusted free cash flow growth accelerating to between €2.6 billion and €2.8 billion.

Vodafone (VOD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

VOD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2026 (Q2)	- / -	0.415	―	―	―
May 20, 2025	2025 (Q4)	0.23 / -2.22	0.407	-645.70% (-2.63)
Nov 12, 2024	2025 (Q2)	0.22 / 0.41	-0.139	398.56% (+0.55)
May 14, 2024	2024 (Q4)	0.54 / 0.41	4.204	-90.32% (-3.80)
Nov 14, 2023	2024 (Q2)	0.35 / -0.14	0.363	-138.29% (-0.50)
May 16, 2023	2023 (Q4)	0.71 / 4.20	0.316	1230.38% (+3.89)
Nov 15, 2022	2023 (Q2)	0.50 / 0.36	0.385	-5.71% (-0.02)
May 17, 2022	2022 (Q4)	0.44 / 0.32	-0.489	164.62% (+0.80)	―	―
Nov 16, 2021	2022 (Q2)	0.46 / 0.39	0.486	-20.78% (-0.10)	―	―
May 18, 2021	2021 (Q4)	- / -0.49	0.649	-175.35% (-1.14)	―	―

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

VOD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 20, 2025	$9.42	$10.15	+7.75%
Nov 12, 2024	$8.88	$8.07	-9.12%
May 14, 2024	$7.95	$8.33	+4.78%
Nov 14, 2023	$8.19	$7.85	-4.15%

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.