The following is a summary of the ATN International, Inc. (ATNI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Adjusted EBITDA grew 6% year-over-year, with total Q2 revenue at $183.3 million, a decrease of 2% year-over-year.

• Net income was $9 million for the quarter, reflecting a substantial improvement from the prior year's $0.8 million.

• Operating income saw a significant rise to $24.3 million in Q2 2024, up from $2.4 million in Q2 2023, largely due to the gains from an asset sale.

Business Progress:

• ATN completed the international real estate asset sale, enhancing financial strength and maintaining operational focus.

• Notable advances were made in strategically positioned carrier projects which initially faced delays in Q1, with accelerated efforts and revenue potential in the latter half of the year.

• Announced transitioning to moderate CapEx investments with continued focus on expanding with government-funded infrastructure programs.

• International Telecom posted a 4% increase in revenues due to strong subscriber growth and shift in service mix toward higher-value high-speed data services.

• Launched 'Brava,' a new business solution brand across international markets to grow revenue in International Business Solutions.

Opportunities:

• Targeted strategic investments and operational focus on high-speed data, mobile data, and enterprise services present major growth avenues.

• ATN is capitalizing on government-funded infrastructure programs for network expansion, supplementing growth and aiding in cost management.

• Continuing to expand high-speed broadband reach in rural and underserved areas aligns with growing digital demands and regulatory support structures.

Risks:

• The anticipation of broadband subscriber churn due to the decommissioning of older legacy networks as new high-speed networks are deployed remains a challenge.

• Transition impacts due to the cessation of the Emergency Connectivity Fund and Affordable Connectivity Programs present short-term revenue headwinds.

More details: ATN International IR

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