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Sep 30, 2024
ATN Q1 2025 Earnings Report
ATN International reported its first quarter 2025 results, showing a decline in revenues but an increase in Adjusted EBITDA.
Key Takeaways
ATN International reported first quarter 2025 revenues of $179.3 million, a 4% decrease year-over-year, primarily due to the wind-down of subsidy programs in the US Telecom segment. Despite this, Adjusted EBITDA increased by 2% to $44.3 million, driven by disciplined cost management and improved free cash flow.
High-speed broadband homes passed increased by 11% year-over-year.
Total high-speed subscribers grew by 2% compared to the prior year.
Net loss was $(8.9) million, or $(0.69) per share, for the quarter.
Net cash provided by operating activities increased 55% to $35.9 million.
Revenue by Segment
Forward Guidance
ATN International reaffirmed its full year 2025 outlook, expecting revenue (excluding construction revenue) and Adjusted EBITDA to be in line with 2024 results, with capital expenditures in the range of $90 million to $100 million.
Positive Outlook
- Revenue, excluding construction revenue, is expected to be in line with last year's result of $725 million.
- Adjusted EBITDA is expected to be essentially flat with the prior year result of $184 million.
- Capital expenditures are expected to be in the range of $90 million to $100 million (net of reimbursements).
- Net Debt Ratio is expected to remain flat, with a slight potential improvement exiting 2025 compared with 2.54x at the end of 2024.
- Focus on expanding cash flow and fully capturing benefits of strategic investments.
Challenges Ahead
- Domestic revenue will reflect a deliberate transition away from legacy services.
- Near-term impact on revenue from transition strategy.
- The company is not able to provide GAAP reconciliations for Adjusted EBITDA and Net Debt Ratio outlook without unreasonable effort.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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