Business
Liberty Latin America Reports Q1 2023 Results
Solid start to the year; on-track to achieve guidance 65,000 organic broadband and postpaid mobile net adds Integration efforts progressing well; significant
About this update from Liberty Latin America Ltd.
[{"type":"text","content":"\nSolid start to the year; on-track to achieve guidance\n\n\n65,000 organic broadband and postpaid mobile net adds\n\n\nIntegration efforts progressing well; significant synergy benefits anticipated\n\n\nAdditional share repurchase authorization of up to $200 million\n\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its financial and operating results for the three months (“Q1”) ended March 31, 2023.\n\n\nCEO Balan Nair commented, “We had a good start to the year, delivering solid subscriber growth in the first quarter and remain on track to achieve our 2023 financial guidance targets.”\n\n\n“We added internet and mobile postpaid subscribers across all of our reporting segments in Q1. Broadband additions were particularly strong led by improved performance in C&W Caribbean as we continue to make our networks Giga-Ready and delight our customers with differentiated converged propositions. In connection with our enhanced services and offers, we recently implemented nominal price increases in select markets to reflect the added value being delivered to our customers, in most cases, these rate adjustments follow several years without any increase.”\n\n\n“Inorganically, 2023 is a key year as we work to complete our integrations in Puerto Rico, Panama and Costa Rica, which will deliver significant value for our stakeholders. We have started to migrate prepaid mobile customers onto our own platform in Puerto Rico and are taking swift action to drive synergies in Panama following the removal of integration-related restrictions in January.”\n\n\n“We remain confident in our cash generation for the business, and have renewed our buyback authorization for up to an additional $200 million through the end of 2025.”\n\n\n“Our first quarter performance provides a solid foundation for 2023. As we progress through the year, we plan to maintain a relentless focus on delivering value for our customers, executing our integration initiatives, and driving further growth for shareholders.”\n\n\nBusiness Highlights\n\n\n\nC&W Caribbean: strong start to the year\n\n\nBroadband and mobile postpaid organic adds more than doubled YoY\n\n\n\nReported and rebased Adj. OIBDA growth of 8%\n\n\n\n\n\n\nC&W Panama: investments and acquisition benefits ...