ATN International, Inc. Reports Third Quarter 2026 Results and Updates 2026 Full Year Outlook
International revenue growth offset the tower sale's revenue impact, while nine-month operating cash flow declined.
Sentiment and the balance of points
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Rhea-AI Summary
ATN International (ATNI) reported a 32% increase in third-quarter operating income and raised its expectations for full-year adjusted earnings. Revenue was stable at $183.2 million, while operating income reached $12.9 million. Net income attributable to stockholders rose to $18.6 million, and diluted earnings per share increased to $1.09 from $0.18.
Adjusted EBITDA, a non-GAAP measure of earnings excluding specified expenses, remained approximately $50 million, with a 27.3% margin. International Telecom revenue rose 2%, while US Telecom revenue fell 2%, partly reflecting the tower portfolio sale. ATN now expects 2026 Adjusted EBITDA at the high end of, or modestly above, its previous $183 million to $193 million range; capital spending guidance remains $105 million to $115 million, net of reimbursable expenditures. Nine-month operating cash flow fell to $76.7 million from $97.7 million. Total debt declined to $537.5 million from $565.2 million at year-end.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.ATN now expects 2026 Adjusted EBITDA at the high end or modestly above its previous $183 million–$193 million range.
- Major pointTower portfolio sale initial closing generated $267.7 million in cash on June 2, 2026. 67% of market cap
- Moderate pointOperating income increased 32% to $12.9 million in the third quarter versus a year earlier.
- Moderate pointDiluted earnings per share rose to $1.09 from $0.18 in the third quarter year over year.
- Moderate pointNet income attributable to ATN stockholders increased to $18.6 million in the third quarter.
- Moderate pointInternational Telecom revenue increased 2% to $96.9 million in the third quarter year over year.
- Moderate pointInternational Telecom operating income and Adjusted EBITDA each increased 9% year over year in the third quarter.
- Moderate pointInternational Adjusted EBITDA margin expanded 240 basis points to 37.4% in the third quarter year over year.
- Moderate pointUS Telecom operating income improved to $2.135 million from $382,000 in the third quarter year over year.
- Moderate pointTotal debt fell to $537.5 million at September 30, 2026, from $565.2 million at December 31, 2025.
5 minor points
- Minor pointCash, cash equivalents and restricted cash rose to $351.5 million from $117.2 million at December 31, 2025.
- Minor pointNet leverage, debt less cash relative to adjusted earnings, improved to 0.94x from 2.36x at year-end.
- Minor pointHigh-speed broadband homes passed increased 4% to 533,000 in the third quarter year over year.
- Minor pointInternational post-paid mobile subscribers increased 4% to 64,600 in the third quarter year over year.
- Minor point. Forward-looking: it has not happened yet and may not happen.Additional tower sale consideration of up to $29.6 million may arrive at subsequent closings expected by June 2027.
Negative
- Moderate pointNine-month operating cash flow declined to $76.7 million from $97.7 million, primarily reflecting working capital timing.
- Moderate pointUS Telecom revenue decreased 2% to $86.3 million in the third quarter year over year.
- Moderate pointUS Telecom Adjusted EBITDA declined to $18.748 million from $21.155 million in the third quarter year over year.
- Moderate pointNine-month capital expenditures, excluding reimbursable government amounts, increased to $66.385 million from $60.925 million.
- Minor pointCorporate and Other adjusted operating loss widened to $5.071 million from $4.479 million, measured by Adjusted EBITDA.
3 minor points
- Minor pointInternational mobile subscribers fell 2.3% to 378,600 in the third quarter year over year.
- Minor pointMobile blended churn increased to 3.77% from 3.19% in the third quarter year over year.
- Minor pointDeferred tower sale closings remain subject to specified construction and operational conditions being satisfied or waived.
News Explained
At quarter-end, the $30 million authorization was still available; no buybacks had been completed.
The release reports third-quarter results; the U.S. Tower Portfolio Sale’s initial closing was completed on
ATN made no share repurchases during the third quarter, and as of
Key Figures
- Revenue
- $183.2 million
- Q3 2026; stable year over year
- Operating income
- $12.9 million; increased 32%
- Q3 2026 year over year
- Diluted earnings per share
- $1.09 vs. $0.18
- Q3 2026 vs. Q3 2025
- Adjusted EBITDA
- $50 million
- Q3 2026; consistent year over year
- 2026 Adjusted EBITDA outlook
- High end of, or modestly above, the previous $183 million–$193 million range
- Updated full-year 2026 outlook
- Cash, cash equivalents, and restricted cash
- $351.5 million vs. $117.2 million
- September 30, 2026 vs. December 31, 2025
- Net Leverage Ratio
- 0.94x vs. 2.36x
- September 30, 2026 vs. December 31, 2025
- Net cash from operating activities
- $76.7 million vs. $97.7 million
- Nine months ended September 30, 2026 vs. same period in 2025
Previous Earnings Reports
-
Reported Adjusted EBITDA growth and reaffirmed full-year guidance; the 24-hour price reaction was negative.
-
Reported the tower sale closing and reaffirmed guidance; the 24-hour price reaction was positive.
-
Reported quarterly results including Adjusted EBITDA growth; the 24-hour price reaction was positive.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
non-gaap financial measures financial
fixed wireless technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Reports a
BEVERLY, Mass., Nov. 04, 2026 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN,” the “Company,” “we,” “us,” and “our”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, today reported financial results for the third quarter ended September 30, 2026. ATN’s management will host a conference call and webcast tomorrow, November 5, 2026, beginning at 9:00 a.m. Eastern Time to review these results.
“During the third quarter, consolidated revenue and Adjusted EBITDA remained flat year over year, while operating income and earnings per share increased even with the impact of the second-quarter US Tower Portfolio Sale4,” said Naji Khoury, ATN’s Chief Executive Officer. “Excluding the impact of the sale, communication services revenue would have increased by
“Looking ahead, we are updating our full-year outlook and now expect Adjusted EBITDA for 2026 to be at the high end of, or modestly above, our previously communicated guidance range. We remain focused on disciplined execution, operational improvement and positioning the business to deliver sustainable, long-term value for our stockholders.”
Consolidated Third Quarter 2026 Operating and Financial Highlights (as compared to the Third Quarter 2025)
- High-speed broadband homes passed increased by
4% as we continued to expand our network footprint - High-speed broadband customers were relatively unchanged, reflecting increased competition in certain international markets
- Revenue was stable at
$183.2 million , as growth in the International Telecom segment offset the impact of the US Tower Portfolio Sale4 - Operating income increased
32% to$12.9 million , benefiting from lower depreciation and amortization and lower losses on asset dispositions - Net income attributable to ATN stockholders increased to
$18.6 million , and diluted earnings per share increased to$1.09 from$0.18 , primarily reflecting higher operating income, lower interest expense and a greater tax benefit - Net cash provided by operating activities decreased to
$76.7 million , driven primarily by working capital timing - Adjusted EBITDA1 and Adjusted EBITDA Margin1 stayed consistent at
$50 million and27.3% , respectively, despite the impact of the U.S. Tower Portfolio Sale4 - Net Leverage Ratio3 improved to 0.94x from 2.36x on December 31, 2025, highlighting our strong balance sheet and financial flexibility
2026 Full-Year Outlook:
The Company is updating its financial outlook for full-year 2026:
- Adjusted EBITDA2 is now expected to be at the high end or modestly above its previous range of
$183 million to$193 million - Capital expenditures continue to be expected in the original range of
$105 million to$115 million (net of reimbursable expenditures)
Segment Operating Results (in Thousands)
The Company recorded financial results in three categories: (i) International Telecom; (ii) US Telecom; and (iii) Corporate and Other.
| Operating Metrics | ||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | Q3 2026 | |||||||
| Q3 | Q2 | Q1 | Q4 | Q3 | vs. Q3 2025 | |||||||
| High-Speed* Broadband Homes Passed | 533,000 | 527,400 | 523,300 | 522,900 | 512,300 | 4 | % | |||||
| High-Speed* Broadband Customers | 139,100 | 140,900 | 143,200 | 142,700 | 139,300 | -0 | % | |||||
| Fiber Route Miles | 12,260 | 12,224 | 12,218 | 12,210 | 12,062 | 2 | % | |||||
| International Mobile Subscribers | ||||||||||||
| Pre-Paid | 314,000 | 322,700 | 323,900 | 331,100 | 325,800 | -4 | % | |||||
| Post-Paid | 64,600 | 63,900 | 63,000 | 62,200 | 61,900 | 4 | % | |||||
| Total | 378,600 | 386,600 | 386,900 | 393,300 | 387,700 | -2.3 | % | |||||
| Mobile Blended Churn | 3.77 | % | 3.48 | % | 3.60 | % | 2.97 | % | 3.19 | % | ||
| For Three Months Ended September 30, 2026 and 2025 | ||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | |||||||||||
| International | International | US | US | Corporate and | Corporate and | Total | Total | |||||||||||
| Telecom | Telecom | Telecom | Telecom | Other* | Other* | ATN | ATN | |||||||||||
| Total Revenue: | $ | 96,939 | $ | 95,143 | $ | 86,298 | $ | 88,022 | $ | - | $ | - | $ | 183,237 | $ | 183,165 | ||
| Mobility | 27,482 | 26,696 | - | 9 | - | - | 27,482 | 26,705 | ||||||||||
| Fixed | 59,444 | 61,377 | 51,997 | 53,099 | - | - | 111,441 | 114,476 | ||||||||||
| Carrier Services | 3,928 | 3,334 | 31,449 | 30,739 | - | - | 35,377 | 34,073 | ||||||||||
| Construction | - | - | 435 | 1,115 | - | - | 435 | 1,115 | ||||||||||
| All other | 6,085 | 3,736 | 2,417 | 3,060 | - | - | 8,502 | 6,796 | ||||||||||
| Operating Income (Loss) | $ | 19,760 | $ | 18,091 | $ | 2,135 | $ | 382 | $ | (8,954 | ) | $ | (8,643 | ) | $ | 12,941 | $ | 9,830 |
| EBITDA (1) | $ | 35,779 | $ | 32,527 | $ | 17,692 | $ | 19,243 | $ | (8,730 | ) | $ | (7,789 | ) | $ | 44,741 | $ | 43,981 |
| Adjusted EBITDA (1) | $ | 36,296 | $ | 33,261 | $ | 18,748 | $ | 21,155 | $ | (5,071 | ) | $ | (4,479 | ) | $ | 49,973 | $ | 49,937 |
| For Nine Months Ended September 30, 2026 and 2025 | ||||||||||||||||||
| Capital Expenditures** | $ | 30,299 | $ | 30,241 | $ | 36,086 | $ | 30,684 | $ | - | $ | - | $ | 66,385 | $ | 60,925 | ||
* Corporate and Other refer to corporate overhead expenses and consolidating adjustments.
** Excludes reimbursable government capital program amounts.
International Telecom revenue increased
US Telecom revenue decreased
Balance Sheet and Cash Flow Highlights
As of September 30, 2026, cash, cash equivalents, and restricted cash totaled
Net cash provided by operating activities was
Capital expenditures were
Quarterly Dividends and Share Repurchases
On October 9, 2026, the Company paid a quarterly dividend of
The Company did not repurchase any shares during the third quarter. As of September 30, 2026, the full
2026 Third Quarter Earnings Conference Call
The Company will host a conference call at 9:00 a.m. Eastern Time on November 5, 2026, to discuss financial and operating results for the third quarter ended September 30, 2026. A live webcast of the conference call will be available via this webcast link: https://edge.media-server.com/mmc/p/yxvfu7re
To dial in as a PARTICIPANT for the call, please use this link:
https://register-conf.media-server.com/register/BIcdbf83d9e6b44ffc9fa8c6b68a2b86ee
Investors can listen to a live audio webcast of the conference call by either visiting the “Webcast Link” above or the "Events & Presentations" section of the Company’s Investor Relations website at https://ir.atni.com/events-and-presentations. A conference call replay will be available at the same locations beginning at approximately 1:00 p.m. Eastern Time that same day. The Company also will provide an investor presentation as a supplement to the call on the “Events & Presentations” section of its Investor Relations website.
1 EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Please see “Use of Non-GAAP Financial Measures” below for full definitions of EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin and see Table 5 for reconciliations of Operating Income to EBITDA and Operating Income to Adjusted EBITDA.
2 For the Company’s non-GAAP Adjusted EBITDA guidance, the Company is not able to provide without unreasonable effort the most directly comparable GAAP financial measures, or reconciliations to such GAAP financial measures, on a forward-looking basis. Please see “Use of Non-GAAP Financial Measures” below for a description of items excluded from the Company’s Adjusted EBITDA guidance.
3 Net Debt and Net Leverage Ratio are non-GAAP financial measures. Please see “Use of Non-GAAP Financial Measures” below for full definitions of Net Debt and Net Leverage Ratio and see Table 6 for the reconciliations of Total Debt to Net Debt.
4 As previously disclosed, on February 11, 2026, certain subsidiaries of the Company entered into that certain Purchase and Sale Agreement with EIP Holdings, IV, LLC, an affiliate of Everest Infrastructure Partners, Inc., to sell approximately 214 tower portfolio sites in the southwest US for up to
About ATN
ATN International, Inc. (Nasdaq: ATNI), headquartered in Beverly, Massachusetts, is a provider of digital infrastructure and communications services operating in the United States and internationally, including the Caribbean region. The Company’s operating subsidiaries focus on rural and remote markets and primarily provide: (i) advanced wireless and wireline connectivity to residential, business, and government customers, including a range of high-speed Internet and data services, fixed and mobile wireless solutions, and video and voice services; and (ii) carrier and enterprise communications services. For more information, please visit www.atni.com.
Use of Non-GAAP Financial Measures and Definition of Terms
In addition to financial measures prepared in accordance with generally accepted accounting principles (“GAAP”), this press release also contains non-GAAP financial measures. Specifically, the Company has included EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Net Debt, and Net Leverage Ratio in this release and the tables included herein.
EBITDA is defined as Operating income (loss) before depreciation and amortization expense.
Adjusted EBITDA is defined as Operating income (loss) before depreciation and amortization expense, transaction-related charges, restructuring and reorganization expenses, the loss on dispositions, transfers and contingent consideration, and non-cash stock-based compensation.
Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by total revenue.
Net Debt is defined as total debt less cash and cash equivalents and restricted cash.
Net Leverage Ratio is defined as Net Debt divided by the trailing four quarters ended total Adjusted EBITDA at the measurement date.
The Company believes that the inclusion of these non-GAAP financial measures helps investors gain a meaningful understanding of the Company's core operating results and enhances the usefulness of comparing such performance with prior periods. Management uses these non-GAAP measures, in addition to GAAP financial measures, as the basis for measuring the Company’s core operating performance and comparing such performance to that of prior periods. The non-GAAP financial measures included in this press release are not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP and should be used supplementally to the Company’s GAAP financial results. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the text of, and the accompanying tables to, this press release. While non-GAAP financial measures are an important tool for financial and operational decision-making and for evaluating the Company’s own operating results over different periods of time, the Company urges investors to review the reconciliations of these financial measures to the comparable GAAP financial measures included below, and not to rely on any single financial measure to evaluate its business. Additionally, these non-GAAP financial measures may not be calculated in the same manner as similar measures presented by other companies. In addition, the forward-looking Adjusted EBITDA guidance for the full-year 2026 excludes potential charges or gains that may be recorded during the fiscal year, including among other things, restructuring and reorganization expenses, transaction-related expenses and gains or losses on dispositions, transfers and contingent consideration. The Company has not attempted to provide reconciliations of such forward-looking non-GAAP earnings guidance to the comparable GAAP measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K, because of the impact and timing of these potential charges or gains are inherently uncertain and difficult to predict and is unavailable without reasonable efforts. In addition, the Company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of the Company’s financial performance.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements relating to, among other matters, the Company’s future financial performance, business goals and objectives, and results of operations, its future revenues, operating income, cash flows, network and operating costs, Adjusted EBITDA, and capital investments; subsequent closings of the US Tower Portfolio Sale and the additional consideration related thereto and the timing thereof; the Company’s liquidity; and management’s plans and strategy for the future. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from the events and results indicated in these statements as a result of many factors, including, among others: (1) the general performance of the Company’s operations, including operating margins, revenues, capital expenditures, the impact of cost savings initiatives, and the retention of and future growth of the Company’s subscriber base and average revenue per user; (2) our ability to satisfy outstanding conditions to complete subsequent closings with respect to the US Tower Portfolio Sale; (3) the timing, manner and extent to which proceeds from the US Tower Portfolio Sale are deployed may be affected by future market conditions, potential changes in tax laws and the Company's ability to develop corporate investment and strategic opportunities; (4) government regulation of the Company’s businesses, which may impact the Company’s telecommunications licenses, the Company’s revenue and the Company’s operating costs; (5) the impact (if any) of geopolitical instability and US military presence in the Caribbean; (6) management transitions, and the loss of, or an inability to recruit skilled personnel in the Company’s various jurisdictions, including key members of management; (7) the Company’s reliance on a limited number of key suppliers and vendors for timely and cost-effective supply of equipment and services relating to the Company’s network infrastructure and information systems; (8) the Company’s ability to satisfy the needs and demands of the Company’s major carrier customers; (9) the Company’s ability to realize expansion plans for its fiber markets; (10) the adequacy and expansion capabilities of the Company’s network capacity and customer service system to support the Company’s customer growth; (11) the Company’s ability to efficiently and cost-effectively upgrade the Company’s networks and information technology platforms to address rapid and significant technological changes in the telecommunications industry; (12) the Company’s continued access to capital and credit markets on terms it deems favorable; (13) the Company’s ability to successfully replace revenue declines in its US Telecom businesses as a result of the pending US tower portfolio sale through carrier, enterprise broadband, and consumer-based broadband services; (14) ongoing risk of an economic downturn, political, geopolitical and other risks and opportunities impacting the Company’s operations, including those resulting from changes and uncertainties related to trade policies and tariff regulations, financial market volatility and disruption, uncertain economic conditions in the US and abroad, inflationary concerns, and other macroeconomic headwinds including increased costs and supply chain disruptions; (15) the occurrence of weather events and natural catastrophes and the Company’s ability to secure the appropriate level of insurance coverage for these assets; and (16) increased competition. These and other additional factors that may cause actual future events and results to differ materially from the events and results indicated in the forward-looking statements above are set forth more fully under Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 16, 2026, and the other reports the Company files from time to time with the SEC. The Company undertakes no obligation and has no intention to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors that may affect such forward-looking statements, except as required by applicable law.
| Company Contact: Michele Satrowsky SVP, Head of IR & Treasury ATN International Inc. ir@atni.com | Investor Relations Contact: Joe Noyons or Kelley Buchhorn Three Part Advisors, LLC jnoyons@threepa.com; kbuchhorn@threepa.com |
| Table 1 | |||||
| ATN International, Inc. | |||||
| Unaudited Condensed Consolidated Balance Sheets | |||||
| (in Thousands) | |||||
| September 30, | December 31, | ||||
| 2026 | 2025 | ||||
| Assets: | |||||
| Cash and cash equivalents | $ | 339,109 | $ | 102,491 | |
| Restricted cash | 12,387 | 14,663 | |||
| Customer receivable | 9,277 | 8,783 | |||
| Assets held-for-sale | - | 11,200 | |||
| Other current assets | 216,438 | 190,739 | |||
| Total current assets | 577,211 | 327,876 | |||
| Property, plant and equipment, net | 945,206 | 991,767 | |||
| Operating lease right-of-use assets | 133,433 | 98,158 | |||
| Customer receivable - long term | 27,842 | 35,128 | |||
| Assets held-for-sale, net of current portion | 6,649 | - | |||
| Goodwill and other intangible assets, net | 116,582 | 117,770 | |||
| Other assets | 106,079 | 102,555 | |||
| Total assets | $ | 1,913,002 | $ | 1,673,254 | |
| Liabilities, redeemable non-controlling interests and stockholders’ equity: | |||||
| Current portion of long-term debt | $ | 30,346 | $ | 15,846 | |
| Current portion of customer receivable credit facility | 9,053 | 8,784 | |||
| Taxes payable | 30,781 | 7,596 | |||
| Current portion of lease liabilities | 19,825 | 13,891 | |||
| Liabilities held-for-sale | 139 | - | |||
| Other current liabilities | 245,482 | 216,982 | |||
| Total current liabilities | 335,626 | 263,099 | |||
| Long-term debt, net of current portion | $ | 507,164 | $ | 549,321 | |
| Customer receivable credit facility, net of current portion | 24,859 | 30,834 | |||
| Lease liabilities | 107,489 | 75,277 | |||
| Other long-term liabilities | 107,747 | 113,923 | |||
| Total liabilities | 1,082,885 | 1,032,454 | |||
| Redeemable non-controlling interests | 96,284 | 86,821 | |||
| Stockholders' equity: | |||||
| Total ATN International, Inc.’s stockholders’ equity | 610,710 | 444,292 | |||
| Non-controlling interests | 123,123 | 109,687 | |||
| Total stockholders' equity | 733,833 | 553,979 | |||
| Total liabilities, redeemable non-controlling interests and stockholders’ equity | $ | 1,913,002 | $ | 1,673,254 | |
| Table 2 | |||||||||||||||
| ATN International, Inc. | |||||||||||||||
| Unaudited Condensed Consolidated Statements of Operations | |||||||||||||||
| (in Thousands, Except per Share Data) | |||||||||||||||
| Three Months Ended, | Nine Months Ended, | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenues: | |||||||||||||||
| Communications services | $ | 178,458 | $ | 177,752 | $ | 537,057 | $ | 526,657 | |||||||
| Construction | 435 | 1,115 | 1,215 | 4,377 | |||||||||||
| Other | 4,344 | 4,298 | 11,688 | 12,726 | |||||||||||
| Total revenue | 183,237 | 183,165 | 549,960 | 543,760 | |||||||||||
| Operating expenses (excluding depreciation and amortization unless otherwise indicated): | |||||||||||||||
| Cost of services and other | 78,963 | 77,850 | 234,839 | 233,239 | |||||||||||
| Cost of construction revenue | 433 | 1,086 | 1,423 | 4,770 | |||||||||||
| Selling, general and administrative | 53,868 | 54,293 | 165,362 | 165,684 | |||||||||||
| Stock-based compensation | 1,752 | 1,966 | 5,085 | 6,556 | |||||||||||
| Transaction-related charges | 528 | 444 | 7,681 | 2,072 | |||||||||||
| Restructuring and reorganization expenses | 2,488 | 1,990 | 6,797 | 8,727 | |||||||||||
| Depreciation | 31,354 | 32,938 | 92,669 | 101,327 | |||||||||||
| Amortization of intangibles from acquisitions | 446 | 1,212 | 1,436 | 3,664 | |||||||||||
| (Gain) Loss on dispositions, transfers and contingent consideration | 464 | 1,556 | (229,694 | ) | 4,991 | ||||||||||
| Total operating expenses | 170,296 | 173,335 | 285,598 | 531,030 | |||||||||||
| Operating income | 12,941 | 9,830 | 264,362 | 12,730 | |||||||||||
| Other expense: | |||||||||||||||
| Interest expense, net | (8,747 | ) | (11,471 | ) | (29,459 | ) | (35,827 | ) | |||||||
| Other income (expense) | 754 | 522 | (3,225 | ) | (2,637 | ) | |||||||||
| Other expense | (7,993 | ) | (10,949 | ) | (32,684 | ) | (38,464 | ) | |||||||
| Income (loss) before income taxes | 4,948 | (1,119 | ) | 231,678 | (25,734 | ) | |||||||||
| Income tax expense (benefit) | (12,282 | ) | (5,052 | ) | 31,396 | (9,019 | ) | ||||||||
| Net income (loss) | 17,230 | 3,933 | 200,282 | (16,715 | ) | ||||||||||
| Net (income) loss attributable to non-controlling interests, net | 1,411 | 410 | (17,149 | ) | 5,104 | ||||||||||
| Net income (loss) attributable to ATN International, Inc. stockholders | $ | 18,641 | $ | 4,343 | $ | 183,133 | $ | (11,611 | ) | ||||||
| Net income (loss) per weighted average share attributable to ATN International, Inc. stockholders: | |||||||||||||||
| Basic | $ | 1.10 | $ | 0.18 | $ | 11.60 | $ | (1.06 | ) | ||||||
| Diluted | $ | 1.09 | $ | 0.18 | $ | 11.52 | $ | (1.06 | ) | ||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 15,403 | 15,257 | 15,357 | 15,204 | |||||||||||
| Diluted | 15,517 | 15,267 | 15,469 | 15,204 | |||||||||||
| Table 3 | |||||||
| ATN International, Inc. | |||||||
| Unaudited Condensed Consolidated Cash Flow Statements | |||||||
| (in Thousands) | |||||||
| Nine Months Ended September 30, | |||||||
| 2026 | 2025 | ||||||
| Net income (loss) | $ | 200,282 | $ | (16,715 | ) | ||
| Depreciation | 92,669 | 101,327 | |||||
| Amortization of intangibles from acquisitions | 1,436 | 3,664 | |||||
| Provision for doubtful accounts | 7,515 | 6,495 | |||||
| Amortization of debt discount and debt issuance costs | 2,187 | 2,154 | |||||
| (Gain) loss on dispositions, transfers and contingent consideration | (229,694 | ) | 4,991 | ||||
| Stock-based compensation | 5,085 | 6,556 | |||||
| Deferred income taxes | 1,079 | (12,767 | ) | ||||
| (Gain) Loss on equity investments | 813 | (246 | ) | ||||
| Decrease in customer receivable | 6,791 | 3,146 | |||||
| Change in prepaid and accrued income taxes | 20,763 | 5,326 | |||||
| Change in other operating assets and liabilities | (32,208 | ) | (6,242 | ) | |||
| Net cash provided by operating activities | 76,718 | 97,689 | |||||
| Capital expenditures | (66,385 | ) | (60,925 | ) | |||
| Government capital programs: | |||||||
| Amounts disbursed | (34,830 | ) | (67,303 | ) | |||
| Amounts received | 27,170 | 61,145 | |||||
| Proceeds from Tower Portfolio Transaction | 267,669 | - | |||||
| Proceeds from sale of strategic investments | 8,457 | - | |||||
| Proceeds from sale of telecommunications licenses | 2,200 | - | |||||
| Proceeds from sale of assets | 1,585 | 261 | |||||
| Purchases and sales of employee benefit plan investments | (44 | ) | 686 | ||||
| Net cash provided by (used in) investing activities | 205,822 | (66,136 | ) | ||||
| Dividends paid on common stock | (12,893 | ) | (11,475 | ) | |||
| Distributions to non-controlling interests | (1,410 | ) | (1,404 | ) | |||
| Finance lease payments | (562 | ) | (1,260 | ) | |||
| Term loan - repayments | (9,459 | ) | (5,795 | ) | |||
| Term loan - borrowings | 20,000 | - | |||||
| Payment of debt issuance costs | (655 | ) | (285 | ) | |||
| Revolving credit facilities – borrowings | 62,050 | 83,500 | |||||
| Revolving credit facilities – repayments | (101,170 | ) | (57,500 | ) | |||
| Repayment of customer receivable credit facility | (5,802 | ) | (6,123 | ) | |||
| Purchases of common stock - stock-based compensation | (1,902 | ) | (770 | ) | |||
| Purchases of noncontrolling interests | (308 | ) | (45 | ) | |||
| Funds payable and amounts due to customers | 3,913 | - | |||||
| Net cash used in financing activities | (48,198 | ) | (1,157 | ) | |||
| Net change in total cash, cash equivalents and restricted cash | 234,342 | 30,396 | |||||
| Total cash, cash equivalents and restricted cash, beginning of period | 117,154 | 89,244 | |||||
| Total cash, cash equivalents and restricted cash, end of period | $ | 351,496 | $ | 119,640 | |||
| Table 4 | ||||||||||||
| ATN International, Inc. | ||||||||||||
| Selected Segment Financial Information | ||||||||||||
| (In Thousands) | ||||||||||||
| For the three months ended September 30, 2026 is as follows: | ||||||||||||
| International Telecom | US Telecom | Corporate and Other * | Total | |||||||||
| Statement of Operations Data: | ||||||||||||
| Revenue | ||||||||||||
| Mobility | ||||||||||||
| Business | $ | 5,437 | $ | - | $ | - | $ | 5,437 | ||||
| Consumer | 22,045 | - | - | 22,045 | ||||||||
| Total | $ | 27,482 | $ | - | $ | - | $ | 27,482 | ||||
| Fixed | ||||||||||||
| Business | $ | 18,760 | $ | 30,476 | $ | - | $ | 49,236 | ||||
| Consumer | 40,684 | 21,521 | - | 62,205 | ||||||||
| Total | $ | 59,444 | $ | 51,997 | $ | - | $ | 111,441 | ||||
| Carrier Services | $ | 3,928 | $ | 31,449 | $ | - | $ | 35,377 | ||||
| Other | 4,024 | 134 | - | 4,158 | ||||||||
| Total Communications Services | $ | 94,878 | $ | 83,580 | $ | - | $ | 178,458 | ||||
| Construction | $ | - | $ | 435 | $ | - | $ | 435 | ||||
| Managed services | $ | 2,061 | $ | 2,283 | $ | - | $ | 4,344 | ||||
| Total Other | $ | 2,061 | $ | 2,283 | $ | - | $ | 4,344 | ||||
| Total Revenue | $ | 96,939 | $ | 86,298 | $ | - | $ | 183,237 | ||||
| Depreciation | $ | 15,827 | $ | 15,303 | $ | 224 | $ | 31,354 | ||||
| Amortization of intangibles from acquisitions | $ | 192 | $ | 254 | $ | - | $ | 446 | ||||
| Total operating expenses | $ | 77,179 | $ | 84,163 | $ | 8,954 | $ | 170,296 | ||||
| Operating income (loss) | $ | 19,760 | $ | 2,135 | $ | (8,954 | ) | $ | 12,941 | |||
| Net (income) loss attributable to non-controlling interests | $ | (2,486 | ) | $ | 3,897 | $ | - | $ | 1,411 | |||
| Non GAAP measures: | ||||||||||||
| EBITDA (2) | $ | 35,779 | $ | 17,692 | $ | (8,730 | ) | $ | 44,741 | |||
| Adjusted EBITDA (1) | $ | 36,296 | $ | 18,748 | $ | (5,071 | ) | $ | 49,973 | |||
| Balance Sheet Data (at September 30, 2026): | ||||||||||||
| Cash, cash equivalents and restricted cash | $ | 137,330 | $ | 206,994 | $ | 7,172 | $ | 351,496 | ||||
| Total current assets | 232,008 | 330,047 | 15,156 | 577,211 | ||||||||
| Fixed assets, net | 442,223 | 501,912 | 1,071 | 945,206 | ||||||||
| Total assets | 752,870 | 1,080,520 | 79,612 | 1,913,002 | ||||||||
| Total current liabilities | 117,694 | 145,489 | 72,443 | 335,626 | ||||||||
| Total debt, including current portion | 81,778 | 342,272 | 113,460 | 537,510 | ||||||||
| * Corporate and Other refer to corporate overhead expenses and consolidating adjustments | ||||||||||||
| Table 4 (continued) | ||||||||||||
| ATN International, Inc. | ||||||||||||
| Selected Segment Financial Information | ||||||||||||
| (In Thousands) | ||||||||||||
| For the three months ended September 30, 2025 is as follows: | ||||||||||||
| International Telecom | US Telecom | Corporate and Other * | Total | |||||||||
| Statement of Operations Data: | ||||||||||||
| Revenue | ||||||||||||
| Mobility | ||||||||||||
| Business | $ | 5,172 | $ | 9 | $ | - | $ | 5,181 | ||||
| Consumer | 21,524 | - | - | 21,524 | ||||||||
| Total | $ | 26,696 | $ | 9 | $ | - | $ | 26,705 | ||||
| Fixed | ||||||||||||
| Business | $ | 18,663 | $ | 29,956 | $ | - | $ | 48,619 | ||||
| Consumer | 42,714 | 23,143 | - | 65,857 | ||||||||
| Total | $ | 61,377 | $ | 53,099 | $ | - | $ | 114,476 | ||||
| Carrier Services | $ | 3,334 | $ | 30,739 | $ | - | $ | 34,073 | ||||
| Other | 2,358 | 140 | - | 2,498 | ||||||||
| Total Communications Services | $ | 93,765 | $ | 83,987 | $ | - | $ | 177,752 | ||||
| Construction | $ | - | $ | 1,115 | $ | - | $ | 1,115 | ||||
| Managed services | $ | 1,378 | $ | 2,920 | $ | - | $ | 4,298 | ||||
| Total Other | $ | 1,378 | $ | 2,920 | $ | - | $ | 4,298 | ||||
| Total Revenue | $ | 95,143 | $ | 88,022 | $ | - | $ | 183,165 | ||||
| Depreciation | $ | 14,198 | $ | 17,886 | $ | 854 | $ | 32,938 | ||||
| Amortization of intangibles from acquisitions | $ | 238 | $ | 975 | $ | - | $ | 1,213 | ||||
| Total operating expenses | $ | 77,052 | $ | 87,640 | $ | 8,643 | $ | 173,335 | ||||
| Operating income (loss) | $ | 18,091 | $ | 382 | $ | (8,643 | ) | $ | 9,830 | |||
| Net (income) loss attributable to non-controlling interests | $ | (2,824 | ) | $ | 3,234 | $ | - | $ | 410 | |||
| Non GAAP measures: | ||||||||||||
| EBITDA (2) | $ | 32,527 | $ | 19,243 | $ | (7,789 | ) | $ | 43,981 | |||
| Adjusted EBITDA (1) | $ | 33,261 | $ | 21,155 | $ | (4,479 | ) | $ | 49,937 | |||
| Balance Sheet Data (at December 31, 2025): | ||||||||||||
| Cash, cash equivalents and restricted cash | $ | 79,165 | $ | 35,915 | $ | 2,074 | $ | 117,154 | ||||
| Total current assets | 165,341 | 141,592 | 20,943 | 327,876 | ||||||||
| Fixed assets, net | 451,303 | 533,443 | 7,021 | 991,767 | ||||||||
| Total assets | 701,579 | 881,968 | 89,707 | 1,673,254 | ||||||||
| Total current liabilities | 97,305 | 120,535 | 45,259 | 263,099 | ||||||||
| Total debt, including current portion | 59,952 | 329,036 | 176,179 | 565,167 | ||||||||
| (1) See Table 5 for reconciliation of Operating Income to Adjusted EBITDA | ||||||||||||
| (2) See Table 5 for reconciliation of Operating Income to EBITDA | ||||||||||||
| * Corporate and Other refer to corporate overhead expenses and consolidating adjustments | ||||||||||||
| ATN International, Inc. | ||||||||||||
| Selected Segment Financial Information | ||||||||||||
| (In Thousands) | ||||||||||||
| For the nine months ended September 30, 2026 is as follows: | ||||||||||||
| International Telecom | US Telecom | Corporate and Other * | Total | |||||||||
| Statement of Operations Data: | ||||||||||||
| Revenue | ||||||||||||
| Mobility | ||||||||||||
| Business | $ | 15,774 | $ | - | $ | - | $ | 15,774 | ||||
| Consumer | 65,205 | - | - | 65,205 | ||||||||
| Total | $ | 80,979 | $ | - | $ | - | $ | 80,979 | ||||
| Fixed | ||||||||||||
| Business | $ | 56,403 | $ | 90,613 | $ | - | $ | 147,016 | ||||
| Consumer | 124,147 | 65,829 | - | 189,976 | ||||||||
| Total | $ | 180,550 | $ | 156,442 | $ | - | $ | 336,992 | ||||
| Carrier Services | $ | 11,674 | $ | 96,131 | $ | - | $ | 107,805 | ||||
| Other | 10,839 | 442 | - | 11,281 | ||||||||
| Total Communications Services | $ | 284,042 | $ | 253,015 | $ | - | $ | 537,057 | ||||
| Construction | $ | - | $ | 1,215 | $ | - | $ | 1,215 | ||||
| Managed services | $ | 5,150 | $ | 6,537 | $ | - | $ | 11,687 | ||||
| Total Other | $ | 5,150 | $ | 6,537 | $ | - | $ | 11,687 | ||||
| Total Revenue | $ | 289,192 | $ | 260,767 | $ | - | $ | 549,959 | ||||
| Depreciation | $ | 43,392 | $ | 48,004 | $ | 1,274 | $ | 92,670 | ||||
| Amortization of intangibles from acquisitions | $ | 672 | $ | 763 | $ | - | $ | 1,435 | ||||
| Total operating expenses | $ | 228,293 | $ | 32,702 | $ | 24,603 | $ | 285,598 | ||||
| Operating income (loss) | $ | 60,899 | $ | 228,065 | $ | (24,603 | ) | $ | 264,361 | |||
| Net (income) loss attributable to non-controlling interests | $ | (8,236 | ) | $ | (8,913 | ) | $ | - | $ | (17,149 | ) | |
| Non GAAP measures: | ||||||||||||
| EBITDA (2) | $ | 104,963 | $ | 276,832 | $ | (23,329 | ) | $ | 358,466 | |||
| Adjusted EBITDA (1) | $ | 106,069 | $ | 57,327 | $ | (15,063 | ) | $ | 148,333 | |||
| * Corporate and Other refer to corporate overhead expenses and consolidating adjustments | ||||||||||||
| Table 4 (continued) | ||||||||||||
| ATN International, Inc. | ||||||||||||
| Selected Segment Financial Information | ||||||||||||
| (In Thousands) | ||||||||||||
| For the nine months ended September 30, 2025 is as follows: | ||||||||||||
| International Telecom | US Telecom | Corporate and Other * | Total | |||||||||
| Statement of Operations Data: | ||||||||||||
| Revenue | ||||||||||||
| Mobility | ||||||||||||
| Business | $ | 14,879 | $ | 64 | $ | - | $ | 14,943 | ||||
| Consumer | 64,181 | - | - | 64,181 | ||||||||
| Total | $ | 79,060 | $ | 64 | $ | - | $ | 79,124 | ||||
| Fixed | ||||||||||||
| Business | $ | 55,572 | $ | 88,054 | $ | - | $ | 143,626 | ||||
| Consumer | 128,919 | 68,056 | - | 196,975 | ||||||||
| Total | $ | 184,491 | $ | 156,110 | $ | - | $ | 340,601 | ||||
| Carrier Services | $ | 10,660 | $ | 89,771 | $ | - | $ | 100,431 | ||||
| Other | 6,186 | 314 | - | 6,500 | ||||||||
| Total Communications Services | $ | 280,397 | $ | 246,259 | $ | - | $ | 526,656 | ||||
| Construction | $ | - | $ | 4,377 | $ | - | $ | 4,377 | ||||
| Managed services | $ | 4,136 | $ | 8,590 | $ | - | $ | 12,726 | ||||
| Total Other | $ | 4,136 | $ | 8,590 | $ | - | $ | 12,726 | ||||
| Total Revenue | $ | 284,533 | $ | 259,226 | $ | - | $ | 543,759 | ||||
| Depreciation | $ | 44,729 | $ | 54,020 | $ | 2,578 | $ | 101,327 | ||||
| Amortization of intangibles from acquisitions | $ | 740 | $ | 2,924 | $ | - | $ | 3,664 | ||||
| Total operating expenses | $ | 235,472 | $ | 266,792 | $ | 28,765 | $ | 531,029 | ||||
| Operating income (loss) | $ | 49,061 | $ | (7,566 | ) | $ | (28,765 | ) | $ | 12,730 | ||
| Net (income) loss attributable to non-controlling interests | $ | (6,605 | ) | $ | 11,709 | $ | - | $ | 5,104 | |||
| Non GAAP measures: | ||||||||||||
| EBITDA (2) | $ | 94,530 | $ | 49,378 | $ | (26,187 | ) | $ | 117,721 | |||
| Adjusted EBITDA (1) | $ | 98,925 | $ | 56,930 | $ | (15,788 | ) | $ | 140,067 | |||
| (1) See Table 5 for reconciliation of Operating Income to Adjusted EBITDA | ||||||||||||
| (2) See Table 5 for reconciliation of Operating Income to EBITDA | ||||||||||||
| * Corporate and Other refer to corporate overhead expenses and consolidating adjustments | ||||||||||||
| Table 5 | ||||||||||||
| ATN International, Inc. | ||||||||||||
| Reconciliation of Non-GAAP Measures | ||||||||||||
| (In Thousands) | ||||||||||||
| For the three months ended September 30, 2026 is as follows: | ||||||||||||
| International Telecom | US Telecom | Corporate and Other * | Total | |||||||||
| Operating income (loss) | $ | 19,760 | $ | 2,135 | $ | (8,954 | ) | $ | 12,941 | |||
| Depreciation expense | 15,827 | 15,303 | 224 | 31,354 | ||||||||
| Amortization of intangibles from acquisitions | 192 | 254 | - | 446 | ||||||||
| EBITDA | $ | 35,779 | $ | 17,692 | $ | (8,730 | ) | $ | 44,741 | |||
| Stock-based compensation | 122 | 56 | 1,574 | 1,752 | ||||||||
| Transaction-related charges | - | 528 | - | 528 | ||||||||
| Restructuring and reorganization expenses | (35 | ) | 438 | 2,085 | 2,488 | |||||||
| (Gain) loss on dispositions, transfers and contingent consideration | 430 | 34 | - | 464 | ||||||||
| ADJUSTED EBITDA | $ | 36,296 | $ | 18,748 | $ | (5,071 | ) | $ | 49,973 | |||
| Total revenue | $ | 96,939 | $ | 86,298 | $ | - | $ | 183,237 | ||||
| ADJUSTED EBITDA MARGIN | 37.4 | % | 21.7 | % | NA | 27.3 | % | |||||
| For the three months ended September 30, 2025 is as follows: | ||||||||||||
| International Telecom | US Telecom | Corporate and Other * | Total | |||||||||
| Operating income (loss) | $ | 18,091 | $ | 382 | $ | (8,643 | ) | $ | 9,830 | |||
| Depreciation expense | 14,198 | 17,886 | 854 | 32,938 | ||||||||
| Amortization of intangibles from acquisitions | 238 | 975 | - | 1,213 | ||||||||
| EBITDA | $ | 32,527 | $ | 19,243 | $ | (7,789 | ) | $ | 43,981 | |||
| Stock-based compensation | 141 | 28 | 1,797 | 1,966 | ||||||||
| Transaction-related charges | - | - | 444 | 444 | ||||||||
| Restructuring and reorganization expenses | 577 | 344 | 1,069 | 1,990 | ||||||||
| Loss on dispositions, transfers and contingent consideration | 16 | 1,540 | - | 1,556 | ||||||||
| ADJUSTED EBITDA | $ | 33,261 | $ | 21,155 | $ | (4,479 | ) | $ | 49,937 | |||
| Total revenue | $ | 95,143 | $ | 88,022 | $ | - | $ | 183,165 | ||||
| ADJUSTED EBITDA MARGIN | 35.0 | % | 24.0 | % | NA | 27.3 | % | |||||
| Table 5 (continued) | ||||||||||||
| ATN International, Inc. | ||||||||||||
| Reconciliation of Non-GAAP Measures | ||||||||||||
| (In Thousands) | ||||||||||||
| For the nine months ended September 30, 2026 is as follows: | ||||||||||||
| International Telecom | US Telecom | Corporate and Other * | Total | |||||||||
| Operating income (loss) | $ | 60,899 | $ | 228,065 | $ | (24,603 | ) | $ | 264,361 | |||
| Depreciation expense | 43,392 | 48,004 | 1,274 | 92,670 | ||||||||
| Amortization of intangibles from acquisitions | 672 | 763 | - | 1,435 | ||||||||
| EBITDA | $ | 104,963 | $ | 276,832 | $ | (23,329 | ) | $ | 358,466 | |||
| Stock-based compensation | 375 | 84 | 4,626 | 5,085 | ||||||||
| Transaction-related charges | - | 8,662 | (982 | ) | 7,680 | |||||||
| Restructuring and reorganization expenses | 974 | 1,209 | 4,614 | 6,797 | ||||||||
| (Gain) loss on dispositions, transfers and contingent consideration | (243 | ) | (229,460 | ) | 8 | (229,695 | ) | |||||
| ADJUSTED EBITDA | $ | 106,069 | $ | 57,327 | $ | (15,063 | ) | $ | 148,333 | |||
| Total revenue | $ | 289,192 | $ | 260,767 | $ | - | $ | 549,959 | ||||
| ADJUSTED EBITDA MARGIN | 36.7 | % | 22.0 | % | NA | 27.0 | % | |||||
| For the nine months ended September 30, 2025 is as follows: | ||||||||||||
| International Telecom | US Telecom | Corporate and Other * | Total | |||||||||
| Operating income (loss) | $ | 49,061 | $ | (7,566 | ) | $ | (28,765 | ) | 12,730 | |||
| Depreciation expense | 44,729 | 54,020 | 2,578 | 101,327 | ||||||||
| Amortization of intangibles from acquisitions | 740 | 2,924 | - | 3,664 | ||||||||
| EBITDA | $ | 94,530 | $ | 49,378 | $ | (26,187 | ) | $ | 117,721 | |||
| Stock-based compensation | 498 | 155 | 5,903 | 6,556 | ||||||||
| Transaction-related charges | - | - | 2,072 | 2,072 | ||||||||
| Restructuring and reorganization expenses | 3,468 | 2,835 | 2,424 | 8,727 | ||||||||
| Loss on dispositions, transfers and contingent consideration | 429 | 4,562 | - | 4,991 | ||||||||
| ADJUSTED EBITDA | $ | 98,925 | $ | 56,930 | $ | (15,788 | ) | $ | 140,067 | |||
| Total revenue | $ | 284,533 | $ | 259,226 | $ | - | $ | 543,759 | ||||
| ADJUSTED EBITDA MARGIN | 34.8 | % | 22.0 | % | NA | 25.8 | % | |||||
| Table 6 | |||||
| ATN International, Inc. | |||||
| Non GAAP Measure - Net Leverage Ratio | |||||
| (in Thousands) | |||||
| September 30, | December 31, | ||||
| 2026 | 2025 | ||||
| Current portion of long-term debt * | $ | 30,346 | $ | 15,846 | |
| Long-term debt, net of current portion * | 507,164 | 549,321 | |||
| Total debt | $ | 537,510 | $ | 565,167 | |
| Less: Cash, cash equivalents and restricted cash | 351,496 | 117,154 | |||
| Net Debt | $ | 186,014 | $ | 448,013 | |
| Adjusted EBITDA - for the four quarters ended | $ | 198,309 | $ | 190,044 | |
| Net Leverage Ratio | 0.94 | 2.36 | |||
| * Excludes Customer receivable credit facility | |||||
| Table 7 | ||||||||||||
| ATN International, Inc. | ||||||||||||
| Reconciliation of Impact of the U.S. Tower Portfolio Sale | ||||||||||||
| (In Thousands) | ||||||||||||
| For the three months ended September 30, 2026 and 2025, respectively, is as follows: | ||||||||||||
| Communication Services Revenue | International Telecom | US Telecom | Corporate and Other * | Total | ||||||||
| For the three months ended September 30, 2025: | ||||||||||||
| Actual Total Communication Services Revenue | $ | 93,765 | $ | 83,987 | $ | - | $ | 177,752 | ||||
| Impact of US Tower Portfolio sale | - | (1,419 | ) | - | (1,419 | ) | ||||||
| Total Communications Services Revenue Excluding the Impact of the US Tower Portfolio sale | $ | 93,765 | $ | 82,568 | $ | - | $ | 176,333 | ||||
| For the three months ended September 30, 2026: | ||||||||||||
| Actual Total Communication Services Revenue | $ | 94,878 | $ | 83,580 | $ | - | $ | 178,458 | ||||
| Increase (Decrease) for the three months ended September 30, 2026: | ||||||||||||
| Actual | ||||||||||||
| Total Communications Services Revenue $ | $ | 1,113 | $ | (407 | ) | $ | - | $ | 706 | |||
| Total Communications Services Revenue % | 1.2 | % | (0.5 | %) | 0.0 | % | 0.4 | % | ||||
| Excluding the Impact of the U.S. Tower Portfolio Sale | ||||||||||||
| Total Communications Services Revenue $ | $ | 1,113 | $ | 1,012 | $ | - | $ | 2,125 | ||||
| Total Communications Services Revenue % | 1.2 | % | 1.2 | % | 0 | % | 1.2 | % | ||||
| Table 7 (continued) | ||||||||||||
| ATN International, Inc. | ||||||||||||
| Reconciliation of Impact of the U.S. Tower Portfolio Sale | ||||||||||||
| (In Thousands) | ||||||||||||
| Adjusted EBITDA and Adjusted EBITDA Margin | International Telecom | US Telecom | Corporate and Other * | Total | ||||||||
| For the three months ended September 30, 2025: | ||||||||||||
| Actual Total Adjusted EBITDA | $ | 33,261 | $ | 21,155 | $ | (4,479 | ) | $ | 49,937 | |||
| Impact of US Tower Portfolio sale - loss of revenues | - | (1,419 | ) | - | (1,419 | ) | ||||||
| Impact of US Tower Portfolio sale - increase in cost of services and other | - | (1,443 | ) | - | (1,443 | ) | ||||||
| Total Adjusted EBITDA Excluding the Impact of the US Tower Portfolio sale | $ | 33,261 | $ | 18,293 | $ | (4,479 | ) | $ | 47,075 | |||
| For the three months ended September 30, 2026: | ||||||||||||
| Actual Total Adjusted EBITDA | $ | 36,296 | $ | 18,748 | $ | (5,071 | ) | $ | 49,973 | |||
| Increase (Decrease) for the three months ended September 30, 2026: | ||||||||||||
| Actual | ||||||||||||
| Total Adjusted EBITDA $ | $ | 3,035 | $ | (2,407 | ) | $ | (592 | ) | $ | 36 | ||
| Total Adjusted EBITDA % | 9 | % | (11 | %) | (13 | %) | 0 | % | ||||
| Excluding the Impact of the US Tower Portfolio Sale | ||||||||||||
| Total Adjusted EBITDA $ | $ | 3,035 | $ | 455 | $ | (592 | ) | $ | 2,898 | |||
| Total Adjusted EBITDA % | 9 | % | 2 | % | (13 | %) | 6 | % | ||||
| Adjusted EBITDA Margin: | ||||||||||||
| For the three months ended September 30, 2025: | ||||||||||||
| Total Adjusted EBITDA margin | 35.0 | % | 24.0 | % | 0.0 | % | 27.3 | % | ||||
| Impact of US Tower Portfolio sale | 0.0 | % | (2.9 | %) | 0.0 | % | (1.8 | %) | ||||
| Total Adjusted EBITDA Margin Excluding the Impact of the US Tower Portfolio sale | 35.0 | % | 21.1 | % | 0.0 | % | 25.5 | % | ||||
| For the three months ended September 30, 2026: | ||||||||||||
| Total Adjusted EBITDA margin | 37.4 | % | 21.7 | % | NA | 27.3 | % | |||||
| Increase (Decrease) for the three months ended September 30, 2026: | ||||||||||||
| Total Adjusted EBITDA Margin | 2.5 | % | (2.3 | %) | 0.0 | % | 0.0 | % | ||||
| Total Adjusted EBITDA Margin Excluding the Impact of the US Tower Portfolio Sale | 2.5 | % | 0.60 | % | 0.00 | % | 1.8 | % | ||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were ATN International's third-quarter 2026 earnings results?
ATN reported $183.2 million in revenue, $12.9 million in operating income and $1.09 in diluted earnings per share. Revenue was stable year over year, operating income increased 32%, and diluted earnings per share rose from $0.18. Net income attributable to ATN stockholders increased to $18.6 million.
What is ATNI's updated full-year 2026 outlook?
ATN now expects Adjusted EBITDA at the high end of, or modestly above, its previous $183 million to $193 million range. The company continues to expect capital expenditures of $105 million to $115 million, net of reimbursable expenditures.
How did ATN's tower sale affect third-quarter 2026 comparisons?
Excluding the tower sale's impact, consolidated communication services revenue would have increased 1% and consolidated Adjusted EBITDA would have increased 6% year over year. For US Telecom, communication services revenue would have increased 1%, Adjusted EBITDA would have increased 2%, and Adjusted EBITDA margin would have expanded 60 basis points.