The following is a summary of the ATN International, Inc. (ATNI) Q1 2024 Earnings Call Transcript:
Financial Performance:
ATN International reported Q1 revenue of $186.8 million, a marginal 1% increase compared to the same period in 2023.
The company's operating income for Q1 was $4.6 million, up from $0.6 million in Q1 2023, mainly due to lower restructuring expenses.
The net loss for the quarter was reported at $6.3 million, resulting in a loss of $0.50 per share.
The adjusted EBITDA for the quarter dropped by 3% to $43.5 million compared to the previous year.
Due to delays in various projects and weaker business revenue, the 2024 revenue outlook has been revised downwards to an estimated range of $730 million to $750 million.
Business Progress:
ATN International reported strong YoY growth in high-speed data subscribers in the international segment thanks to network upgrades and expansions.
The company's focusing on cost-saving opportunities and aims to align its cost structure with expected future needs. Benefits from these efforts are expected in H2 2024.
Despite project delays, ATN is working on strengthening its business revenue pipeline and accelerating cost reduction measures.
ATN International targets normalized CapEx levels within 10% to 15% of revenues and plans to bring its leverage closer to 2x over time.
Despite facing competitive challenges, ATN International is prioritizing margin improvement and efficient cash flow management to boost financial strength.
The company foresees significant business progress in the upcoming months, reflecting an optimistic perspective.
More details: ATN International IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.