Equity Profile

VEON

VEON Ltd.

Communication ServicesWireless Telecommunication Services$3.6B

May13Wed

Pre-Earnings Brief

UpcomingQ1-2026Pre-Market9:00 AM EDT

Company Snapshot

VEON Ltd. is a telecommunications company that provides wireless services and digital solutions across various markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of the company's profitability and financial health.

$1.30

Revenue

Revenue figures provide insight into the company's sales performance and market demand.

$1.2B

Wall Street expectations, options signals, track record, and call prep available with Pro.

VEON Q1-2026 Earnings Preview

Context

Company Snapshot

VEON Ltd. is a telecommunications company that provides wireless services and digital solutions across various markets. With a market cap of $4 billion, it plays a significant role in the communication services sector, which is increasingly focused on connectivity and digital transformation.

Earnings Scorecard·Last 5Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

-55.54%

Avg Stock Reaction

+4.01%

Last Quarter Recap

In the last quarter, VEON reported a significant earnings miss with an EPS of -$1.84 compared to an expected $1.21. Despite this, the stock saw a positive reaction, gaining 14.77% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect VEON to report an EPS of $1.30 and revenue of $1.2 billion, indicating a cautious optimism following a prior quarter's miss.

Bull Case

If VEON meets or exceeds EPS and revenue expectations, it could signal a recovery in profitability and growth, leading to a positive market reaction.

Bear Case

Conversely, if the company fails to meet these expectations again, it could raise concerns about its financial stability and future growth prospects.

Key Metrics to Watch

EPS

$1.30

Earnings per share is a key indicator of the company's profitability and financial health.

Revenue

$1.2B

Revenue figures provide insight into the company's sales performance and market demand.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will VEON's EPS meet or exceed the consensus estimate of $1.30?

This figure will be crucial in assessing the company's recovery from previous losses and its ability to generate profit.

What are the revenue figures compared to the expected $1.2 billion?

Revenue performance will indicate market demand and the effectiveness of VEON's strategies in the competitive telecommunications landscape.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may be underestimating the potential for a rebound in VEON's earnings, given the significant implied move priced into options.

Supporting Evidence

Options are pricing a 14.7% move, indicating that the market expects volatility that may not align with historical performance.

The prior quarter's stock reaction (+14.77%) suggests that even a modest improvement could lead to a strong positive response.

Key Risk

If VEON's EPS comes in below $1.30, it could undermine the recovery narrative and lead to a sharp market reaction.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical for VEON as it seeks to regain investor confidence after a disappointing prior quarter.

Bull Confirmed If

An EPS of $1.30 or higher would confirm the bull case, indicating a strong recovery.

Bear Confirmed If

An EPS significantly below the consensus, particularly a repeat of negative earnings, would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±14.7%

Historical Avg

±4.2%

Pricing rich

The options market is pricing in a significant potential move, suggesting heightened uncertainty or anticipation around the earnings report.

Options are pricing ±14.7% while VEON has averaged ±4.2% over the last 5 prints — setup is pricing rich.

Detail

30d HV

55.0%

Calls (1K)P/C Ratio: 0.60Puts (300)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Communication Services

n=30

Fade rate: 16 of 30 (53%)

This setup has occurred 30 times across Communication Services in the last 2 years. 16 of 30 faded and 14 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.4%, with a raw directional average of -0.6% (modestly negative historical bias).

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

26.52%

of float

Insider

0.06%

of float

Holders

138

institutions

Top Holders· as of Dec 2025

Lingotto Investment Management LLP
6,060,852 sh · $321.2M
8.19%
-49.9%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If VEON beats expectations, history suggests a potential stock move of +7.86%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further clarity from management.

Miss

Should VEON miss expectations again, history suggests a potential downside move of +7.86%, raising concerns about its financial trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on subscriber growth or churn rates.
2Insights into cost management and operational efficiency improvements.
3Management's outlook on competitive pressures in the telecommunications market.
4Details on any new product or service offerings that could drive revenue.
5Comments on macroeconomic factors affecting performance.

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Company Snapshot

VEON Ltd. is a telecommunications company that provides wireless services and digital solutions across various markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of the company's profitability and financial health.

$1.30

Revenue

Revenue figures provide insight into the company's sales performance and market demand.

$1.2B

Wall Street expectations, options signals, track record, and call prep available with Pro.

VEON Q1-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 5Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

-55.54%

Avg Stock Reaction

+4.01%

Last Quarter Recap

In the last quarter, VEON reported a significant earnings miss with an EPS of -$1.84 compared to an expected $1.21. Despite this, the stock saw a positive reaction, gaining 14.77% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect VEON to report an EPS of $1.30 and revenue of $1.2 billion, indicating a cautious optimism following a prior quarter's miss.

Bull Case

If VEON meets or exceeds EPS and revenue expectations, it could signal a recovery in profitability and growth, leading to a positive market reaction.

Bear Case

Conversely, if the company fails to meet these expectations again, it could raise concerns about its financial stability and future growth prospects.

Key Metrics to Watch

EPS

$1.30

Earnings per share is a key indicator of the company's profitability and financial health.

Revenue

$1.2B

Revenue figures provide insight into the company's sales performance and market demand.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will VEON's EPS meet or exceed the consensus estimate of $1.30?

This figure will be crucial in assessing the company's recovery from previous losses and its ability to generate profit.

What are the revenue figures compared to the expected $1.2 billion?

Revenue performance will indicate market demand and the effectiveness of VEON's strategies in the competitive telecommunications landscape.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may be underestimating the potential for a rebound in VEON's earnings, given the significant implied move priced into options.

Supporting Evidence

Options are pricing a 14.7% move, indicating that the market expects volatility that may not align with historical performance.

The prior quarter's stock reaction (+14.77%) suggests that even a modest improvement could lead to a strong positive response.

Key Risk

If VEON's EPS comes in below $1.30, it could undermine the recovery narrative and lead to a sharp market reaction.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical for VEON as it seeks to regain investor confidence after a disappointing prior quarter.

Bull Confirmed If

An EPS of $1.30 or higher would confirm the bull case, indicating a strong recovery.

Bear Confirmed If

An EPS significantly below the consensus, particularly a repeat of negative earnings, would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±14.7%

Historical Avg

±4.2%

Pricing rich

The options market is pricing in a significant potential move, suggesting heightened uncertainty or anticipation around the earnings report.

Options are pricing ±14.7% while VEON has averaged ±4.2% over the last 5 prints — setup is pricing rich.

Detail

30d HV

55.0%

Calls (1K)P/C Ratio: 0.60Puts (300)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Communication Services

n=30

Fade rate: 16 of 30 (53%)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

26.52%

of float

Insider

0.06%

of float

Holders

138

institutions

Top Holders· as of Dec 2025

Lingotto Investment Management LLP
6,060,852 sh · $321.2M
8.19%
-49.9%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If VEON beats expectations, history suggests a potential stock move of +7.86%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further clarity from management.

Miss

Should VEON miss expectations again, history suggests a potential downside move of +7.86%, raising concerns about its financial trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on subscriber growth or churn rates.
2Insights into cost management and operational efficiency improvements.
3Management's outlook on competitive pressures in the telecommunications market.
4Details on any new product or service offerings that could drive revenue.
5Comments on macroeconomic factors affecting performance.