ATN International Inc (NAS:ATNI)
$ 20.14 -2.11 (-9.48%) Market Cap: 304.40 Mil Enterprise Value: 942.91 Mil PE Ratio: 0 PB Ratio: 0.62 GF Score: 75/100
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Q3 2024 ATN International Inc Earnings Call Transcript

Oct 30, 2024 / 02:00PM GMT
Release Date Price: $22.87 (-27.51%)

Key Points

Positve
  • ATN International Inc (ATNI) reported strong free cash flow from operations in Q3 2024.
  • The international segment achieved double-digit growth in adjusted EBITDA, driven by effective cost management.
  • ATN International Inc (ATNI) launched 5G in two international markets, contributing to improved subscriber quality and revenue growth.
  • The company is leveraging government funding, such as the B program, to support capital investments and enhance infrastructure.
  • ATN International Inc (ATNI) is focused on optimizing value through cost efficiency initiatives and strategic asset management.
Negative
  • The US operations underperformed, with lower levels of nonplanned prepaid consumer mobility sales and slower consumer sales execution.
  • ATN International Inc (ATNI) reported a non-cash $35 million goodwill impairment charge due to market dynamics and compression in market multiples.
  • Revenue was down 7% year-over-year, primarily due to the conclusion of government programs and a reduction in construction revenues.
  • The company faced challenges in Alaska, with expected revenue pipelines not materializing as projected.
  • ATN International Inc (ATNI) had to adjust its full-year financial outlook due to these challenges, reflecting lower revenue and adjusted EBITDA expectations.
Operator

Good day. And thank you for standing by.

Welcome to the ATN International Q3 2024 earnings conference call and webcast.

(Operator Instructions)

I would now like to hand the conference over to your first speaker today. Michele Satrowsky, corporate treasurer. Please go ahead.

Michele Satrowsky
ATN International INC - Vice President, Corporate Treasurer

Thank you, operator and good morning, everyone. I'm joined today by Brad Martin ATN's Chief Executive Officer and Carlos Doglioli ATN's Chief Financial Officer. This morning, we'll be reviewing our third quarter, 2024 results and providing additional insights on the 2024 outlook.

As a reminder, we announced our 2024 Third quarter results yesterday afternoon. After the market closed, investors can find the earnings release and conference call slide presentation on our investor relations. Website.

Our earnings release and the presentation contain certain forward-looking statements concerning our current expectations, objectives and underlying assumptions regarding our

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