The following is a summary of the ATN International, Inc. (ATNI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• ATN International reported a total company revenue of $178.5 million for Q3 2024, down 7% year-over-year, primarily due to the conclusion of government programs and a decrease in construction revenues.

• The company recorded an operating loss of $38.4 million, including a $35.3 million goodwill impairment charge, compared to an operating income of $6.8 million in Q3 2023.

• Net loss was $32.7 million, or $2.26 per share, worsened from a net loss of $3.6 million, or $0.31 per share, in the previous year.

• Adjusted EBITDA fell to $45.7 million, down 5% from the year-ago period, mainly due to declines in US Telecom segment.

Business Progress:

• Initiated construction on grant-awarded fiber projects totaling over $280 million.

• Launched 5G in two international markets, contributing to significant international segment EBITDA growth.

• Unveiled a new unified brand 'One Communications' in the largest market, aiming to consolidate brand strategy across Caribbean markets.

• Invested in enhanced network capabilities and operational efficiencies, as well as focusing on cost management and cash flow improvement.

Opportunities:

• Improved quality and resilience of subscriber base in international markets through conversions to higher value services.

• Continued exploration of market expansion via capitalizing on existing and enhanced assets, leveraging government funding opportunities like the BEAD program.

• Positioning for growth by shifting focus to carrier, business, and high-speed broadband markets in the U.S., while reducing emphasis on less profitable consumer fixed wireless and mobility services.

Risks:

• Underperformance in U.S. Telecom, particularly with enterprise sales in Alaska and prepaid consumer mobility.

• Challenges from competitive pressures in international markets, notably affecting consumer mobility in Guyana.

• Continued impact from the conclusion of major U.S. government subsidy programs (ACP and ECF), affecting revenue replacement strategies.

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