Q2 2024 Liberty Latin America Ltd Earnings Call Transcript
Key Points
- Liberty Latin America Ltd (LILA) added 62,000 high-speed broadband and postpaid mobile subscribers in the first half of 2024.
- Adjusted OIBDA for the first half of 2024 was $763 million, with double-digit rebased growth in Panama and Costa Rica.
- The company has been aggressive with buyback activity, repurchasing over $300 million of equity and convertible notes.
- Liberty Latin America Ltd (LILA) announced a combination with Millicom in Costa Rica, expected to drive synergies and improve market structure.
- The company reported 4% revenue growth in the first half of 2024 for Cable & Wireless Caribbean, driven by strong B2B performance.
- Liberty Latin America Ltd (LILA) faced challenges in Puerto Rico, including mobile subscriber migration issues and the sunset of the ECF program, leading to subscriber losses.
- Hurricane Beryl caused infrastructure damage in Jamaica, Grenada, and Saint Vincent, impacting revenue and adjusted OIBDA.
- Liberty Puerto Rico reported a year-over-year revenue decline of 11% in the first half of 2024, with significant declines in mobile and B2B segments.
- The company incurred $12 million in bad debt write-offs in Puerto Rico due to billing and collection issues post-migration.
- Adjusted OIBDA for Liberty Puerto Rico decreased by 48% year-over-year in Q2 2024, impacted by higher operational costs and subscriber losses.
Good morning, ladies and gentlemen, and thank you for standing by. Today's call is being recorded. I will now turn the call over to Danilo Fernandes, Senior Director of Corporate Business, C&W Panama.
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Good morning, and welcome to Liberty Latin America's second quarter 2024 investor call. At this time, all participants are in listen only mode. Today's formal presentation materials can be found under the Investor Relations section of Liberty Latin America's website at www.lla.com.
Following today's formal presentation, instructions will be given for a question-and-answer session. As a reminder, this call is being recorded. Today's remarks may include forward-looking statements, including the company's expectations with respect to its outlook and future growth prospects and other information and statements that are not historical facts. Actual results may differ materially from
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