ATN International Reports Fourth Quarter and Full Year 2024 Results; Outlines 2025 Outlook

Brad Martin, Chief Executive Officer of ATN, emphasized the company’s resilience and adaptability in an evolving telecommunications landscape. “Our fourth quarter results close out a year of resilience and adaptability as we navigated an evolving industry landscape while remaining focused on disciplined execution,” Martin stated. He noted that despite a 4% decline in full-year revenue to $729.1 million, the company expanded its high-speed broadband subscriber base and fiber network reach.

Martin highlighted the strong performance in the International Telecom segment, driven by robust demand for high-speed broadband services and operational enhancements. Conversely, the US Telecom segment faced challenges due to the expiration of subsidy programs and shifting consumer preferences. He reaffirmed ATN’s commitment to transitioning its domestic business towards more sustainable revenue streams centered on enterprise and carrier solutions.

For the fourth quarter of 2024, ATN reported consolidated revenues of $180.5 million, a decrease of 9% from $199.0 million in the same quarter of 2023. This decline was largely attributed to the US Telecom segment, impacted by the end of the Emergency Connectivity Fund and Affordable Care Program, as well as a reduction in legacy wholesale roaming and consumer mobile revenue.

Full-year revenues for 2024 totaled $729.1 million, down from $762.2 million in 2023.

Operating income for the fourth quarter improved to $8.7 million, compared to $3.3 million in the prior year. This increase was primarily due to lower restructuring costs and a decrease in service costs, despite the revenue drop. However, for the full year, ATN reported an operating loss of ($0.8 million), which included a significant $35.3 million goodwill impairment charge.

Net income attributable to ATN stockholders for the fourth quarter was $3.6 million, or $0.14 per diluted share, a notable improvement from a net loss of ($5.8 million), or ($0.46) per share in Q4 2023. However, for the full year, the net loss widened to ($26.4 million), or ($2.10) per share, compared to a net loss of ($14.5 million), or ($1.25) per share in the previous year.

Adjusted EBITDA for Q4 was $46.2 million, down from $51.0 million in the prior year. For the full year, Adjusted EBITDA was $184.1 million, reflecting a slight decrease from $189.5 million in 2023.

ATN’s financial results were categorized into three segments: International Telecom, US Telecom, and Corporate & Other.

As of December 31, 2024, ATN reported total cash and cash equivalents of $90.5 million, up from $62.2 million a year earlier, while total debt increased to $557.4 million. The company generated net cash from operating activities of $129.2 million, an increase from $111.6 million in the prior year.

Capital expenditures for 2024 totaled $110.4 million, a decrease from $163.3 million in 2023, indicating a more measured approach to investment.

In January 2025, ATN paid a dividend of $0.24 per share on common shares, reflecting the company’s commitment to returning value to its shareholders. In 2024, the company invested $10.0 million in share repurchases, although no shares were repurchased in Q4.

Looking ahead, Martin expressed optimism for 2025, emphasizing ATN's commitment to its strategic initiatives, including the “First-to-Fiber” and “Glass & Steel™” market strategies. The company anticipates:

Martin concluded, “While we expect short-term challenges in domestic revenue, this transition is crucial for strengthening our long-term competitive position.” The company remains focused on maximizing the value of its investments to drive sustainable growth and profitability.

As ATN International continues to navigate the complexities of the telecommunications industry, its strategic focus on growth and operational efficiency positions it favorably for the future.