PLDT (PHI) Q1 2026 earnings summary

Executive summary

• EBITDA grew 2% year-over-year to ₱28.3bn, driven by disciplined cost management and Maya's increased contribution, despite flat revenues and temporary headwinds in Home and Wireless Consumer segments.

• Core income rose 2% to ₱9.1bn, supported by Maya's profitability and asset monetization.

• Enterprise segment showed resilience, offsetting legacy service declines with strong ICT and digital infrastructure growth.

• Data and broadband accounted for 86% of service revenues, totaling ₱41.9bn.

• Reported net income for Q1 2026 was ₱8.9bn.

Financial highlights

• Gross service revenues were ₱54.9bn, up 3% year-over-year, with total revenues at ₱56.5bn.

• EBITDA margin remained stable at 52%.

• Net income attributable to equity holders was ₱8.87bn, down 2% year-over-year.

• Cash opex, subsidies, and provisions declined 2% to ₱20.6bn.

• Depreciation and amortization increased 7% to ₱13.9bn.

Outlook and guidance

• Capex guidance for 2026 is in the mid-₱50bn range, with a focus on ROI-driven investments and continued reduction in capex intensity.

• Positive free cash flow is expected to be sustained, with a target to reduce net debt/EBITDA to 2.0x and a 60% dividend payout.