Key Highlights

  • Q3 Revenue was USD 183.24 million against a USD 184.90 million estimate, with EPS of USD 1.09 against USD 0.19.
  • Operating income increased 32% to USD 12.9 million, and Net Income attributable to stockholders was USD 18.6 million.
  • Net Leverage Ratio stood at 0.94x against 2.36x on December 31, 2025, with cash of USD 351.5 million.
  • Adjusted EBITDA guidance now sits at the high end of, or modestly above, USD 183 million to USD 193 million.

ATN International (NASDAQ:ATNI) reported third quarter revenue of USD 183.24 million, against an estimate of USD 184.90 million, and diluted EPS of USD 1.09, against an estimate of USD 0.19 and USD 0.18 in the prior-year quarter. The quarter followed the second-quarter close of the US Tower Portfolio Sale, which management said held consolidated revenue and Adjusted EBITDA flat year over year.

Revenue

Consolidated revenue was stable at USD 183.2 million, as growth in the International Telecom segment offset the effect of the tower sale. International Telecom revenue rose 2% to USD 96.9 million, with growth in ancillary services, mobility and carrier services more than offsetting a previously disclosed loss of a government subsidy.

US Telecom revenue declined 2% to USD 86.3 million. Management said growth in Business fixed and carrier services was outweighed by the tower sale, lower construction revenue and the timing of certain government subsidies. Excluding the sale, communication services revenue would have increased 1%. High-speed broadband homes passed increased 4%, while customers were relatively unchanged.

Profit and Margins

Operating income increased 32% to USD 12.9 million, which management attributed to lower Depreciation and amortization and lower losses on asset dispositions. Net income attributable to ATN stockholders was USD 18.6 million, and diluted EPS was USD 1.09 against USD 0.18. The company cited higher operating income, lower interest expense and a greater tax benefit.

Adjusted EBITDA was USD 50 million, consistent with a year earlier, at a Margin of 27.3%. International Telecom Operating Income and Adjusted EBITDA each increased 9%, with a 240 basis point expansion in margin to 37.4%. US Telecom operating income was USD 2.1 million, and management said that excluding the sale, Adjusted EBITDA would have increased 2% and margin would have widened 60 basis points. Chief executive Naji Khoury said Adjusted EBITDA would have increased 6% excluding the sale.

Cash, Balance Sheet and Guidance

Cash, cash equivalents and restricted cash totaled USD 351.5 million at September 30, against USD 117.2 million at year end 2025. Total Debt was USD 537.5 million, against USD 565.2 million. The tower sale covered about 214 sites in the southwest United States for up to USD 297 million in cash, of which USD 267.7 million was received at the June 2 initial closing. Up to USD 29.6 million more may arrive at later closings by June 2027, subject to construction and operational conditions.

Nine-month net cash from Operating Activities was USD 76.7 million against USD 97.7 million. Capital expenditures were USD 66.4 million, net of USD 34.8 million of reimbursable spending, against USD 60.9 million net of USD 67.3 million a year earlier.

The company paid a quarterly Dividend of USD 0.29 per share on October 9, 2026 and made no repurchases in the quarter, leaving the full USD 30 million authorization available. Adjusted EBITDA guidance for 2026 was updated to the high end of, or modestly above, its prior range of USD 183 million to USD 193 million, while capital expenditures guidance remains USD 105 million to USD 115 million, net of reimbursable spending.

Data Points to Watch

Revenue of USD 183.24 million sits alongside Adjusted EBITDA of USD 50 million, a net leverage ratio of 0.94x and cash of USD 351.5 million. EPS of USD 1.09 compares with an estimate of USD 0.19.

Management named the Adjusted EBITDA range of USD 183 million to USD 193 million, capital expenditures of USD 105 million to USD 115 million and later tower sale closings by June 2027. A conference call was scheduled for November 5, 2026.