Business
ATN Reports Third Quarter 2024 Results; Updates Full-Year 2024 Outlook
“First-to-Fiber” and “Glass & SteelTM” Strategies Yield Year-Over-Year Increases in High-Speed Data Subscriber and Network Reach Metrics Total high-speed
About this update from Atn International, Inc.
[{"type":"text","content":"“First-to-Fiber” and “Glass & SteelTM” Strategies Yield Year-Over-Year Increases in High-Speed Data Subscriber and Network Reach Metrics Total high-speed broadband subscribers increased 6% year-over-yearBroadband homes passed by high-speed data services expanded 20% year-over-yearCapital expenditures were $85.7 million (net of $71.8 million reimbursements) for the first nine months of 2024, reduced from $126.6 million (net of $14.3 million reimbursements) for the first nine months of 2023 Q3 2024 Results Highlighted by International Telecom Segment Fixed Revenue Growth, Cost Management Initiatives Supporting Margin Expansion International Telecom segment revenues were essentially flat supported by growth in consumer and business fixed revenues and business mobility revenuesUS Telecom segment revenues were down 13% due primarily to the anticipated conclusion of two government subsidy programs and the anticipated reduction in construction revenuesThird quarter net loss increased to $32.7 million, or $2.26 per diluted share inclusive of a $35.3 million non-cash goodwill impairment chargeOperating loss increased to $38.4 million, including the impairment chargeAdjusted EBITDA1 decreased 5% to $45.7 millionYear-to-date net cash from operations increased 9% year-over-year to $97.4 million Updates 2024 Outlook for Revenues, Adjusted EBITDA and Net Debt RatioThe Company’s expectations for full-year 2024 outlook are as follows: Revenue is now expected to be in the range of $720 million to $730 million, excluding construction revenueAdjusted EBITDA2 is now expected to be in the range of $182 million to $188 millionCapital Expenditures are still expected to be in the range of $100 million to $110 million, net of reimbursementsNet Debt Ratio3 is now expected to be in the range of 2.3x to 2.6x exiting 2024 Earnings Conference CallWednesday October 30, 2024, at 10:00 a.m. ET; Webcast Link: https://edge.media-server.com/mmc/p/i66c89ki BEVERLY, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, today reported financial results for the quarter ended September 30, 2024. Remarks by Brad Martin, ATN Chief Executive Officer “We reported strong free cash flow from operations in the third quarter, driven by effective cost an...