Group 1 - Annaly Capital Management, Inc. (NLY) has seen a 6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days and has a dividend yield of 11.9%, higher than the industry average of 10.3% [1] - Hang Seng Bank Limited (HSNGY) has experienced a 5.8% increase in the Zacks Consensus Estimate for its current year earnings in the last 60 days and offers a dividend yield of 11.4%, significantly above the industry average of 3.8% [2] - ATN International, Inc. (ATNI) has had a remarkable 78.1% increase in the Zacks Consensus Estimate for its next year earnings over the last 60 days [2]

Q4 and Year-end 2024 Earnings Call March 5, 2025 1 Safe Harbor and Non-GAAP Financial Measures Definition Q4 FY 2024 Cautionary Language Concerning Forward-Looking Statements This presentation contains forward-looking statements relating to, among other matters, the Company's future financial performance, business goals and objectives, and results of operations, expectations regarding its strategic investment plan, its future revenues, operating income, operating margin, cash flows, network and operating co ...

Financial Data and Key Metrics Changes - Full-year revenue for 2024 was $729 million, representing a 4% decrease from 2023 due to the conclusion of significant programs in the US telecom segment [24] - Adjusted EBITDA for the full year 2024 decreased to $184 million, down from $189.5 million in the prior year [28] - Net income for Q4 2024 was $3.6 million, or $0.14 per share, compared to a net loss of $5.8 million or $0.46 per share in the prior year [26] - Full-year net loss for 2024 was $26.4 million or $2.10 per share, compared to a net loss of $14.5 million or $1.25 per share in 2023, primarily due to a goodwill impairment charge of $35.3 million [27] Business Line Data and Key Metrics Changes - International segment revenue for Q4 2024 was $94.8 million, essentially flat compared to the same period in the previous year, while full-year revenue increased nearly 2% to $377.5 million [29] - Domestic segment revenue for Q4 2024 was $85.8 million, down 18% year over year, and down 10% for the full year [30] - Adjusted EBITDA for the international segment increased 4.8% for the quarter and 9.7% for the full year, while domestic segment EBITDA decreased 29% for the quarter and 20% for the full year [28][30] Market Data and Key Metrics Changes - The international segment continued to grow, supported by strong demand for high-speed broadband and business solutions, with business mobility revenue increasing by 21% [12] - The US market is transitioning away from legacy technologies, with a focus on enterprise and carrier-driven fiber-based revenue streams [10] Company Strategy and Development Direction - The company is focused on long-term value creation, operational efficiency, and financial discipline, marking the end of a three-year investment cycle [7] - The strategy includes expanding fiber networks, exiting lower-margin services, and optimizing operations to enhance profitability [11][18] - The company aims to leverage government funding to accelerate fiber expansion, having secured over $370 million in grants [14][15] Management's Comments on Operating Environment and Future Outlook - Management expects short-term revenue decline due to the transition but believes it positions the company for long-term stability and higher-margin growth [12] - The focus for 2025 includes stabilizing the US telecom segment and enhancing cash flow generation while continuing to expand margins in the international segment [35] - Management remains confident in the disciplined execution of their strategy, which is expected to support long-term shareholder value creation [20][39] Other Important Information - The company ended 2024 with a net debt ratio of 2.54 times on total debt outstanding of $557.4 million [31] - Capital expenditures for 2024 totaled $110.4 million, down from $163.3 million in the previous year, reflecting a planned reduction in capital intensity [33] Q&A Session Summary Question: Capital expenditure budget for 2025 - Management indicated that the guidance aligns with expectations, with a continued reduction in CapEx anticipated [46] Question: Traction in enterprise and carrier services - Management reported a 6.5% growth in the business base internationally and a 2.7% quarter-over-quarter subscriber growth in business customers [50] Question: Impact of competition on prepaid subscribers - The decline in prepaid subscribers was primarily due to competition, particularly from a new 5G entrant in Guyana [53] Question: Specific services in carrier managed services - The company offers a range of services including lit services, dark services, and backhaul services, and has the ability to lease spectrum assets [58] Question: Visibility of the business - Management expressed confidence in the visibility of the carrier and managed solutions business, driven by increasing demand for bandwidth [97] Question: Plans for stabilizing the US domestic business - The expectation is to stabilize the US business in 2025, setting the stage for growth in 2026 and beyond [104] Question: Timeline for shutting down legacy copper - The company targets significant progress in shutting down copper infrastructure by 2030, with ongoing evaluations of market conditions [108]

Financial Performance - Fourth quarter revenues declined 9% year over year to $180.5 million; full-year revenues decreased 4% to $729.1 million, impacted by the conclusion of the Emergency Connectivity Fund (ECF) program[3] - Fourth quarter operating income increased to $8.7 million year over year; full-year operating loss was $(0.8) million, including a goodwill impairment charge of $35.3 million[8] - Fourth quarter net income was $3.6 million, or $0.14 per diluted share, compared to a net loss of $(5.8) million, or $(0.46) per share, in the year-ago quarter[10] - Full-year Adjusted EBITDA decreased 3% to $184.1 million; fourth quarter Adjusted EBITDA decreased 9% year over year to $46.2 million[11] - Total revenue for the year ended December 31, 2024, was $729,075 million, a significant increase from $762,216 million in 2023, reflecting a growth in both mobility and fixed segments[55][57] - The operating income for 2024 was reported at a loss of $795 million, compared to an operating income of $13,175 million in 2023, indicating a decline in profitability[55][57] - Adjusted EBITDA for 2024 reached $184,084 million, up from $189,451 million in 2023, showing a slight decrease in operational efficiency[62][57] - The total communications services revenue for 2024 was $707,758 million, compared to $735,082 million in 2023, reflecting a decrease of approximately 3.7%[55][57] Subscriber and Market Growth - High-speed broadband subscribers grew by 3% and homes passed increased by 16% year over year[3] - International revenue growth is anticipated in the low single digits for 2025, while domestic revenue is expected to decline temporarily due to the transition from legacy services[28] - The company completed its three-year strategic plan initiated in 2022 to accelerate investments in high-speed data footprint and grow high-speed broadband subscribers[19] Cash Flow and Debt Management - Net cash provided by operating activities increased 16% year-over-year to $129.2 million[22] - The net debt ratio was 2.54x at year-end 2024, with expectations to remain flat or slightly improve by the end of 2025[3] - The company reported a net cash provided by operating activities of $129.210 million for the year ended December 31, 2024, an increase from $111.632 million in 2023[48] - The company’s total debt, including the current portion, was $557.356 million as of December 31, 2024[50] - Total debt increased to $557,356,000 in 2024 from $516,870,000 in 2023, while net debt rose to $466,818,000 from $454,703,000[66] - The net debt ratio increased to 2.54 in 2024 compared to 2.40 in 2023, indicating a higher leverage position[66] Capital Expenditures and Investments - Capital expenditures for the full year 2024 were $110.4 million, down from $163.3 million in the prior year[23] - For 2025, ATN targets capital expenditures in the range of $90 to $100 million, net of reimbursements[30] - The company invested $10.0 million in share repurchases for the year ended December 31, 2024, with no shares repurchased in Q4 2024[24] Equity and Assets - Total assets decreased from $1,783.7 million in 2023 to $1,728.3 million in 2024[44] - Total stockholders' equity decreased from $637.8 million in 2023 to $595.5 million in 2024[44] - The current portion of long-term debt decreased from $24.3 million in 2023 to $8.2 million in 2024[44] - Total current assets as of December 31, 2023, were $281,272 million, indicating a solid liquidity position for the company[57] Future Outlook - Revenue for the full year 2025 is expected to be in line with last year, excluding construction revenue; Adjusted EBITDA is expected to be essentially flat[3] - ATN's focus for 2025 is on expanding cash flow to realize the benefits of investments and position for long-term growth and profitability[27] - ATN expects International Adjusted EBITDA to expand in 2025, driven by revenue growth and continued cost optimization[29]

Financial Performance - ATN International reported quarterly earnings of $0.28 per share, exceeding the Zacks Consensus Estimate of a loss of $0.24 per share, and compared to a loss of $0.12 per share a year ago, representing an earnings surprise of 216.67% [1] - The company posted revenues of $180.55 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.80%, but down from $198.97 million in the same quarter last year [2] Market Performance - ATN International shares have declined approximately 0.9% since the beginning of the year, while the S&P 500 has seen a decline of 0.5% [3] - The stock is currently rated Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.21 on revenues of $180.71 million, and for the current fiscal year, it is -$0.32 on revenues of $736.38 million [7] - The estimate revisions trend for ATN International is mixed, which could change following the recent earnings report [6] Industry Context - The Wireless National industry, to which ATN International belongs, is currently ranked in the top 11% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Fourth Quarter and Full Year 2024 Financial Highlights Grew total high-speed subscribers by 3%Expanded high-speed broadband homes passed by 16%Fourth-quarter revenues declined 9% to $180.5 million year over year; Full-year revenues declined 4% to $729.1 million, impacted by the conclusion of the Emergency Connectivity Fund (ECF) programFourth quarter operating income increased to $8.7 million year over year; Full year operating income decreased to a loss of $0.8 millionFourth quarter net income was $3.6 mil ...

Core Viewpoint - ATN International, Inc. is set to release its fourth quarter and full year 2024 results on March 4, 2025, with a conference call scheduled for March 5, 2025, at 10:00 a.m. ET to discuss these results [1] Group 1 - The conference call will be accessible via a live audio webcast, and a replay will be available shortly after the call [2] - Participants must register to join the live call, receiving dial-in numbers and a unique PIN for access [3] Group 2 - ATN International, Inc. is a prominent provider of digital infrastructure and communications services, operating in the U.S. and internationally, particularly in rural and remote markets [4] - The company's services include advanced wireless and wireline connectivity, high-speed Internet, data services, and carrier communications services [4]

Financial Performance - Total revenue for the three months ended September 30, 2024, was $178.5 million, a decrease of 6.5% compared to $191.0 million for the same period in 2023[6]. - Net loss attributable to ATN International, Inc. stockholders for the three months ended September 30, 2024, was $32.7 million, compared to a net loss of $3.6 million for the same period in 2023[6]. - Operating expenses for the three months ended September 30, 2024, increased to $216.8 million, up from $184.2 million in the same period last year, representing a 17.7% increase[6]. - Basic net loss per share attributable to ATN International, Inc. stockholders was $(2.26) for the three months ended September 30, 2024, compared to $(0.31) for the same period in 2023[6]. - Comprehensive loss attributable to ATN International, Inc. for the nine months ended September 30, 2024, was $29,689,000, compared to $6,929,000 for the same period in 2023, indicating a worsening financial performance[8]. - The company reported a comprehensive loss of $40,863,000 for the three months ended September 30, 2024, compared to a loss of $2,369,000 for the same period in 2023[8]. - The net loss for the nine months ended September 30, 2024, was $36,059,000, compared to $11,435,000 for the same period in 2023, highlighting a deteriorating trend[10]. - The company recorded a net loss attributable to stockholders of $34.1 million for the three months ended September 30, 2024, compared to a net loss of $4.9 million for the same period in 2023[95]. - The effective tax rate for the three months ended September 30, 2024, was 23.4%, significantly higher than the 12.7% rate for the same period in 2023[89]. Assets and Liabilities - Cash and cash equivalents as of September 30, 2024, were $100.7 million, significantly up from $49.2 million as of December 31, 2023[5]. - Total current assets increased to $325.6 million as of September 30, 2024, compared to $281.3 million at the end of 2023, reflecting a growth of 15.7%[5]. - Total liabilities as of September 30, 2024, were $1.08 billion, an increase from $1.06 billion as of December 31, 2023[5]. - Total assets decreased to $1.75 billion as of September 30, 2024, from $1.78 billion at the end of 2023[5]. - Total equity as of September 30, 2024, was $628,765,000, reflecting a decrease from $645,113,000 as of September 30, 2023[9]. - Total current liabilities as of September 30, 2024, were $268,430 thousand, compared to $293,194 thousand as of December 31, 2023, indicating a reduction of about 8.4%[108]. - Total debt, including current portion, was $568,906 thousand as of September 30, 2024, a decrease from $516,870 thousand as of December 31, 2023, reflecting an increase of approximately 10%[108]. Revenue and Expenses - Total revenue for the nine months ended September 30, 2024, was $548,527 thousand, an increase from $563,250 thousand in the same period last year, indicating a decline of approximately 2.6%[104]. - Communication services revenue decreased by $14.4 million or 2.6% to $533.1 million from $547.5 million year-over-year[153]. - Total operating expenses increased by $4.7 million or 0.8% to $558.0 million from $553.3 million year-over-year[153]. - Selling, general and administrative expenses decreased by $11.5 million, or 6.2%, to $172.6 million for the nine months ended September 30, 2024, from $184.1 million for the same period in 2023[161]. - Depreciation and amortization expenses increased by $0.2 million, or 0.2%, to $107.2 million for the nine months ended September 30, 2024, from $107.0 million for the same period in 2023[162]. Goodwill and Impairments - The company reported a goodwill impairment of $35.3 million for the three months ended September 30, 2024[6]. - The company’s total goodwill balance as of September 30, 2024, was $60.7 million, with accumulated impairment of $55.9 million[84]. - A goodwill impairment of $35.3 million was recorded during the nine months ended September 30, 2024, due to a shift in business focus and operational challenges[164]. Capital Expenditures and Investments - Capital expenditures for the nine months ended September 30, 2024, were $85,672,000, a decrease from $126,640,000 in 2023[8]. - The company plans to invest approximately $100 million to $110 million in capital expenditures for the year ended December 31, 2024, primarily for network expansion and upgrades[172]. - The company has accrued $31.1 million in capital expenditures under the Replace and Remove Program, with expectations to be reimbursed within the next twelve months[80]. - The company received $87.2 million in reimbursements under the Replace and Remove Program, with $18.7 million classified as operating cash inflows[122]. Debt and Financing - The 2023 CoBank Credit Facility includes a $170 million revolving credit facility and a $130 million term loan facility, with all amounts drawn used to repay $139.5 million of debt from the 2019 CoBank Credit Facility[49]. - The Company had $126.8 million outstanding under the 2023 CoBank Term Loan and $69.1 million under the 2023 CoBank Revolving Loan as of September 30, 2024[51]. - The 2024 Alaska Credit Facility includes a $300 million secured term loan facility and a $90 million revolving facility, with $300 million outstanding under the term facility as of September 30, 2024[56]. - The company entered into a two-year forward starting interest rate swap agreement with a notional amount of $50.0 million, effective November 13, 2023, at a fixed SOFR rate of 4.896%[51]. - The company repaid all outstanding amounts under the 2022 Alaska Credit Facility using proceeds from the 2024 Alaska Credit Facility[188]. Operational Highlights - The company declared a dividend of $0.24 per share for the three months ended September 30, 2024, compared to $0.21 per share for the same period in 2023[6]. - The company recorded government grant revenue of $11.774 million for the three months ended September 30, 2024, compared to $11.109 million in the same period of 2023[23]. - The company has been awarded $100.1 million in construction grants to build network connectivity for eligible communities, with $4.7 million in capital expenditures disbursed during the three months ended September 30, 2024[120]. - The company provides mobile telecommunications services, fixed telecommunications services, carrier telecommunication services, and managed services to customers in various markets[113]. Market and Economic Conditions - Inflation has led to increased operating costs, potentially impacting financial condition and cash flows if costs cannot be passed on[202]. - The company is involved in ongoing litigation regarding spectrum fees and tax filings in Guyana, which may impact its financial position[112].

1 Q3 2024 Earnings Call October 30, 2024 Q3 FY 2024 2 Safe Harbor and Non-GAAP Financial Measures Definition Cautionary Language Concerning Forward-Looking Statements This presentation contains forward-looking statements relating to, among other matters, the Company's future financial performance, business goals and objectives, and results of operations, expectations regarding its strategic investment plan, its future revenues, operating income, operating margin, cash flows, network and operating costs, EBI ...

ATN International, Inc. (NASDAQ:ATNI) Q3 2024 Earnings Conference Call October 30, 2024 10:00 AM ET Company Participants Michele Satrowsky - Vice President, Corporate Treasurer Brad Martin - Chief Executive Officer Carlos Doglioli - Chief Financial Officer Conference Call Participants Ric Prentiss - Raymond James Gregory Burns - Sidoti Hamed Khorsand - BWS Financial Operator Good day, and thank you for standing by. Welcome to the ATN International Q3 2024 Earnings Conference Call and Webcast. At this time, ...