Business
Liberty Latin America Reports Q3 2021 Results
Continued subscriber momentum; 158,000 fixed and mobile additions in Q3 Revenue up 32% YTD driven by Puerto Rico acquisition, rebased revenue up 4% Strong
About this update from Liberty Latin America Ltd.
[{"type":"text","content":"\nContinued subscriber momentum; 158,000 fixed and mobile additions in Q3\n\nRevenue up 32% YTD driven by Puerto Rico acquisition, rebased revenue up 4%\n\nStrong YoY growth in cash flows from operating activities and Adjusted FCF\n\n~600,000 homes passed or upgraded YTD; 99% fiber-to-the-home\n\nAnnounced Panama and Chile transactions; anticipate significant synergies\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 (“Q3”) and nine months (“YTD”) ended September 30, 2021.\n\nCEO Balan Nair commented, “Since reporting our first half results in August, we have made significant progress with our strategic objectives and enhanced our medium-term prospects through operational improvements and accretive M&A transactions.”\n\n“From an organic perspective, we have continued to generate healthy fixed subscriber growth with 84,000 RGU additions in the third quarter, including positive contributions from each of our reporting segments. Panama had a particularly strong performance, adding more subscribers in the third quarter than the first half of the year as we gained traction with our broadband-led bundled propositions. In mobile, we grew our base by 74,000 subscribers, with postpaid representing approximately half of the additions.”\n\n“The penetration of fixed and mobile data services remains relatively low across our markets and we are committed to investing in our networks and product offerings to deliver greater access to high-speed connectivity solutions for our customers. In the year-to-date period, we added or upgraded approximately 600,000 homes.”\n\n“Our cash flow from operations and Adjusted Free Cash Flow, in the first nine months of the year, were $718 million and $149 million, respectively, representing strong growth year-over-year, and we are on-track to exceed our 2021 Adjusted Free Cash Flow guidance of approximately $200 million. We also doubled our share repurchase activity in Q3 as compared to Q2.”\n\n“Our inorganic strategy is an important driver of value creation and we were pleased to complete the acquisition of Telefónica's Costa Rica operations as well as announcing the acquisition of América Móvil's Panama business and a 50/50 joint venture with...