Core Insights - Liberty Latin America reported strong operational and profitability progress in 2025, with adjusted OIBDA reaching $1.7 billion, reflecting a 9% growth on a rebased basis, and over 225,000 mobile postpaid net additions [2][3][7] Financial Performance - Total revenue for 2025 was $4.4 billion, slightly down on a rebased basis, with Q4 revenue at $1.2 billion, showing a 1% year-over-year rebased growth [8][19] - Adjusted OIBDA for Q4 was $451 million, with a full-year adjusted OIBDA of $1.7 billion, marking an 8% growth in Q4 and 9% for the year on a rebased basis [9][19] - Adjusted free cash flow before partner distributions was $278 million in Q4 and $150 million for the full year, representing a 29% year-over-year increase [9] Capital Expenditure and Profitability - Capital spending discipline was emphasized, with property and equipment (P&E) additions at 14% of revenue in 2025, down 2 percentage points from the previous year, totaling $640 million compared to $725 million in 2024 [1][7] - Adjusted OIBDA less P&E additions increased by 27% to $1.1 billion, or 24% of revenue [1][7] Subscriber Growth and Market Dynamics - The company achieved over 225,000 mobile postpaid net additions, driven by growth in Costa Rica and fixed-mobile convergence efforts [3][4] - Puerto Rico showed signs of stabilization with its first quarter of positive postpaid mobile additions since migration, although full-year revenue declined by 6% [17][18] Impact of Hurricane Melissa - Hurricane Melissa significantly impacted Jamaica's fixed network, resulting in the removal of 133,000 home passes and a $27 million reduction in Q4 results [6][11] - The company plans to deploy $81 million from weather-derivative proceeds to support recovery efforts and aims to return to near pre-hurricane profitability by the end of 2026 [6][14][16] Capital Structure and Liquidity - Liberty Latin America ended 2025 with $8.4 billion in total debt and $800 million in cash, alongside $900 million available credit, with a consolidated net leverage of 4.3x [5][19] - Liberty Puerto Rico reported a borrowing group net leverage of nearly 8x and may require additional liquidity as management considers a potential separation [5][19] Future Outlook - Management outlined priorities for 2026, including continued investment in subsea and 5G infrastructure, fixed-mobile convergence initiatives, and maintaining cost discipline [4][20]

Core Insights - The company anticipates a $100 million adjusted free cash flow impact from Hurricane Melissa in 2026, with a goal to return to pre-hurricane operational levels by year-end 2026, setting the stage for a full recovery in 2027 [1] - The company reported a significant year-over-year growth in adjusted OIBDA, with a 27% increase for fiscal 2025 and a 30% increase in Q4 2025 [3][8] - The company is focused on driving organic growth and cash flow improvement, with a strategic vision for 2026 that includes operational and financial priorities [9][10] Financial Performance - Adjusted OIBDA less P&E additions reached $1.1 billion in 2025, representing 24% of revenue, a notable improvement from 2024 [3][8] - The company achieved a robust Q4 with adjusted free cash flow before partner distributions of $278 million, leading to a full-year total of $150 million, marking a 29% year-over-year increase [3][8] - Total debt stands at $8.4 billion, with liquidity of $800 million in cash and $900 million available under credit lines [1][5] Capital Expenditures - The company invested $640 million in 2025, a decrease from $725 million in 2024, with P&E additions as a percentage of revenue dropping from 16% in 2024 to 14% in 2025 [4][5] - The company is maintaining a disciplined capital approach despite various commitments and challenges faced during the year [4] Market and Operational Outlook - The company is experiencing stabilization in its Puerto Rico operations, with a focus on improving market share and expanding revenue streams [6][9] - The fixed-to-mobile convergence strategy is expected to enhance ARPU and reduce churn, with significant growth opportunities identified in 2026 and beyond [27][29] - The company is actively working on separating Liberty Puerto Rico from Liberty Latin America Ltd. to enhance operational efficiency [8] Strategic Initiatives - The company is engaged in a liability management exercise with creditors, aiming to improve its leverage profile [7][8] - Partnerships with AWS are being leveraged to enhance internal operations and customer offerings, with ongoing investments in regional data centers [20][22] - The company is focused on translating AI initiatives into tangible free cash flow improvements, with ongoing trials and implementations [23][24]

Financial Data and Key Metrics Changes - Liberty Latin America reported $1.7 billion of Adjusted OIBDA for full year 2025, representing a 9% growth on a rebased basis [5] - The company delivered revenue of $1.2 billion in Q4, reflecting a 1% year-over-year rebase growth [28] - Full year revenue was slightly down on a rebase basis to $4.4 billion [29] - Adjusted OIBDA margins improved by approximately 300 basis points in 2025 [30] Business Line Data and Key Metrics Changes - The company added over 225,000 mobile postpaid subscribers in 2025, with significant contributions from Costa Rica and Puerto Rico [5] - Liberty Caribbean segment revenue remained flat at $1.5 billion for full year 2025, with residential mobile revenue growing by 4% [8] - C&W Panama registered rebased revenue growth of 3% for full year 2025, driven by a 7% growth in residential mobile revenue [15] - Liberty Networks generated $129 million in revenue for Q4, reflecting a year-over-year rebased increase of 14% [32] Market Data and Key Metrics Changes - In Jamaica, the mobile network recovered quickly post-Hurricane Melissa, with over 75% of fixed broadband customers back online [12] - The company aims to continue driving Fixed Mobile Convergence (FMC), with penetration now at 40% [9] - In Puerto Rico, the company has seen a positive turnaround in postpaid mobile adds, marking the first quarter of positive growth since migration [22] Company Strategy and Development Direction - The company is focused on rebuilding in Jamaica and transforming its mobile network while investing in innovative and returns-focused projects [7][14] - Liberty Latin America aims to leverage its high-speed fixed and mobile infrastructure to enhance its commercial proposition [25] - The company is pursuing partnerships, such as with AWS, to bring cloud services to local markets [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in Puerto Rico, attributing improvements to leadership changes and enhanced customer propositions [70] - The company anticipates financial challenges in Jamaica in the near term but expects to return to pre-hurricane profitability levels by the end of 2026 [43] - Management highlighted the potential for significant AI-driven cost improvements and productivity enhancements [55] Other Important Information - Liberty Latin America invested $640 million in 2025, with P&E additions as a percentage of revenue at 14% [36] - The company reported adjusted free cash flow before partner distributions of $150 million for the full year, a 29% year-over-year increase [38] - Total debt at the consolidated level was $8.4 billion, with liquidity of $800 million in cash and $900 million available under credit lines [40] Q&A Session Questions and Answers Question: Insights on private equity infrastructure investment and organic growth - Management indicated that MANTA and El Salvador projects are expected to provide significant capacity and profitability, with ongoing interest in these initiatives [48][49] Question: Expectations for AI and cost improvements - Management acknowledged the potential for AI to enhance productivity and reduce costs, emphasizing the need to translate these improvements into tangible free cash flow [55] Question: Fixed to mobile convergence opportunities - Management highlighted the benefits of FMC, noting that linking postpaid mobile with fixed broadband can increase ARPU and reduce churn [60] Question: Top-line trajectory in Puerto Rico - Management noted a positive turnaround in postpaid net adds driven by improvements in leadership and customer propositions, with expectations for continued growth [70]

Financial Data and Key Metrics Changes - Liberty Latin America reported $1.7 billion of Adjusted OIBDA for the full year 2025, representing a 9% growth on a rebased basis [5] - The company delivered revenue of $1.2 billion in Q4, reflecting a 1% year-over-year rebase growth [28] - Full year revenue was slightly down on a rebased basis to $4.4 billion [29] - Adjusted OIBDA for Q4 was $451 million, bringing the full year adjusted OIBDA to $1.7 billion, with year-over-year rebased growth of 8% for Q4 and 9% for 2025 [30] Business Line Data and Key Metrics Changes - The company added over 225,000 mobile postpaid subscribers in 2025, with significant contributions from Costa Rica and Puerto Rico [5] - Liberty Caribbean segment revenue remained flat at $1.5 billion for the full year 2025, with rebased residential mobile revenue growth of 4% [8] - C&W Panama registered rebased revenue growth of 3% for full year 2025, driven by a 7% growth in residential mobile revenue [15] - Liberty Networks generated $129 million in revenue for Q4, reflecting a year-over-year rebased increase of 14% [32] Market Data and Key Metrics Changes - In Jamaica, the mobile network recovered quickly post-Hurricane Melissa, with over 75% of fixed broadband customers back online [12] - The company aims to continue driving Fixed Mobile Convergence (FMC), with penetration now at 40% [9] - In Puerto Rico, the company has over 50% market share in fixed broadband and nearly 20% in mobile postpaid [60] Company Strategy and Development Direction - The company is focused on rebuilding in Jamaica and transforming its mobile network, with a target to return to pre-hurricane profitability levels by the end of 2026 [14] - Liberty Latin America aims to leverage its high-speed fixed and mobile infrastructure to enhance its commercial proposition [25] - The company is pursuing partnerships, such as with AWS, to enhance its service offerings and drive growth [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in Puerto Rico, highlighting improvements in customer service and product offerings [70] - The company anticipates challenges in the near term due to the impact of Hurricane Melissa but expects to see financial improvements in 2026 [43] - Management emphasized the importance of translating AI initiatives into tangible free cash flow improvements [55] Other Important Information - Liberty Latin America invested $640 million in 2025, with P&E additions as a percentage of revenue at 14% [36] - The company reported a consolidated total debt of $8.4 billion and liquidity of $800 million in cash [39] Q&A Session Summary Question: Expectations on private equity infrastructure investment and organic growth - Management indicated that MANTA and El Salvador projects are expected to provide significant growth opportunities, with MANTA focusing on resiliency and capacity [48][49] Question: AI and cost improvements - Management acknowledged the potential for AI to improve productivity and reduce costs, emphasizing the need to translate these improvements into free cash flow [54][55] Question: Fixed to mobile convergence opportunity - Management highlighted the benefits of Fixed Mobile Convergence, noting that linking postpaid mobile with fixed broadband can increase ARPU and reduce churn [60][61] Question: Top-line trajectory in Puerto Rico - Management noted significant improvements in customer service and product offerings, contributing to positive postpaid net adds and a turnaround in the business [70]

Liberty Latin America (NasdaqGS:LILA) Q4 2025 Earnings call February 19, 2026 08:30 AM ET Speaker5Good day, everyone. You are holding for Liberty Latin America's full year 2025 investor call. Thank you for your patience. The investor call will begin in approximately 5 minutes. Please stand by. Good day, everyone. You are holding for Liberty Latin America's full year 2025 investor call. Thank you for your patience. The investor call will begin in approximately 2 minutes. Good morning, ladies and gentlemen, a ...

Part of Liberty Latin America LIBERTY LATIN AMERICA FY 2025 INVESTOR CALL February 19, 2026 "SAFE HARBOR" FORWARD-LOOKING STATEMENT | DEFINED TERMS FORWARD-LOOKING STATEMENTS & DISCLAIMER This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategies, priorities and objectives, financial and operational performance, growth expectations; efficiency initiatives; our digital strategy, product innova ...

Revenue Performance - Liberty Latin America reported Q4 2025 revenue of $1,160 million, a 1% increase year-over-year, and FY 2025 revenue of $4,442 million, a slight decline of 1% compared to FY 2024[5]. - C&W Panama achieved a revenue growth of 10% year-over-year in Q4 2025, driven by a 24% increase in B2B revenue[10]. - Liberty Puerto Rico's revenue decreased by 4% year-over-year in Q4 2025, attributed to challenges in mobile network migration[12]. - Total revenue for the Cable & Wireless Borrowing Group was $692.8 million for the three months ended December 31, 2025, representing a 4% increase from $667.3 million in the prior quarter[34]. - Liberty Puerto Rico's revenue for the three months ended December 31, 2025, was $301.3 million, a 4% decrease from $314.1 million in the prior year[36]. - Liberty Costa Rica reported a revenue of CRC 318.4 billion for the year ended December 31, 2025, representing a 1% increase compared to CRC 315.8 billion in 2024[39]. Adjusted OIBDA - Adjusted OIBDA for Q4 2025 was $451 million, reflecting an 8% increase year-over-year, while FY 2025 Adjusted OIBDA reached $1,706 million, a 9% increase from FY 2024[5]. - Adjusted OIBDA for the year ended December 31, 2025, increased by 9% on both a reported and rebased basis compared to the prior year, with Q4 growth at 8%[14]. - C&W Panama's Adjusted OIBDA rose by 18% on both a reported and rebased basis, driven by strong B2B project revenue[14]. - Liberty Puerto Rico's Adjusted OIBDA increased by 26% on both a reported and rebased basis, despite a revenue decline[14]. - Total Adjusted OIBDA for Q4 2025 was $451.3 million, up from $418.2 million in Q4 2024, reflecting an 8% increase[14]. - Adjusted OIBDA for the Cable & Wireless Borrowing Group rose by 4% to $321.6 million, compared to $307.8 million in the previous quarter[34]. Operating Income - Operating income for Q4 2025 improved to $126 million, a 6% increase from $119 million in Q4 2024, and for FY 2025, it was $108 million compared to a loss of $77 million in FY 2024[5]. - Operating income for Liberty Puerto Rico improved significantly to $17.8 million, compared to a loss of $16.8 million in the same quarter last year, marking a 206% increase[36]. - Operating income less property and equipment additions was $(95) million for Q4 2025, an improvement from $(122) million in Q4 2024[19]. Capital Expenditures - Capital expenditures for Q4 2025 were $220 million, representing an 8% decrease from $240 million in Q4 2024, with capital intensity at 19% of revenue[5]. - Capital expenditures for the year ended December 31, 2025, totaled $500.0 million, down from $540.4 million in 2024[17]. - Property and equipment additions as a percentage of revenue were 14.4% for the year ended December 31, 2025, compared to 16.3% in 2024[17]. - Property and equipment additions for the year ended December 31, 2025, were $640.1 million, down from $725.3 million in 2024, suggesting a reduction in capital expenditures[67]. Debt and Leverage - Consolidated debt and finance lease obligations amounted to $8.35 billion as of December 31, 2025[23]. - The consolidated leverage ratio was 4.7x, with a net leverage ratio of 4.3x as of December 31, 2025[23]. - The total carrying amount of debt for C&W was $4.8625 billion as of December 31, 2025, with a net carrying amount of debt of $4.355 billion after accounting for cash and cash equivalents[35]. - The Covenant Proportionate Net Leverage Ratio for C&W was reported at 3.5x, calculated based on annualized Covenant EBITDA[35]. - The Covenant Consolidated Net Leverage Ratio for Liberty Puerto Rico was 14.0x as of December 31, 2025, calculated based on annualized Covenant EBITDA[38]. - The consolidated net leverage ratio as of December 31, 2025, was 4.3x, down from 4.6x on September 30, 2025[88]. Customer Metrics - The total customer base decreased to 1,834,900 in Q4 2025, with organic customer losses of 66,600[7]. - Liberty Caribbean's total subscriber count reached 6,794,000 as of December 31, 2025, with a total of 4,692,600 fixed-line and mobile subscribers[41]. - The number of mobile subscribers increased to 3.5 million, reflecting a growth of 5% year-over-year[52]. - Liberty Puerto Rico experienced a decline of 7,300 RGUs in the quarter ended December 31, 2025, primarily due to the impact of Hurricane Melissa[42]. Cash Flow - The company reported a record fourth quarter in Adjusted Free Cash Flow (FCF) of $278 million, compared to $196 million in Q4 2024[5]. - Adjusted Free Cash Flow for the year was reported at $800 million, highlighting strong cash generation capabilities[63]. - Adjusted Free Cash Flow (Adjusted FCF) for the three months ended December 31, 2025, was $233.8 million, up from $163.2 million in the same period of 2024, representing a 43% increase[70]. - Net cash provided by operating activities for the year ended December 31, 2025, was $805.9 million, compared to $756.3 million in 2024, reflecting a growth of 6.5%[70]. Future Outlook - The company is focused on organic growth and cash flow expansion, with a strategic agreement with Amazon Web Services aimed at enhancing product offerings in the region[3]. - Future guidance indicates expected revenue growth of 5-7% for the upcoming fiscal year, driven by increased customer acquisition and retention strategies[67]. - The LPR Acquisition, completed on September 3, 2024, is expected to impact future revenue and Adjusted OIBDA positively, although specific projections were not provided[74].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38335 Liberty Latin America Ltd. (Exact name of Registrant as specified in its charter) Bermuda 98-1386359 (State or Other Jurisdiction of Incor ...

Industry Overview - The Zacks Wireless National industry is facing challenges such as high capital expenditures for infrastructure upgrades, tariff uncertainty, supply-chain disruptions due to geopolitical tensions, and high customer inventory levels [1][6] - Despite these challenges, the industry is expected to benefit from accelerated 5G deployment and extensive fiber densification in the long run [1] Key Players - Verizon Communications Inc. is likely to gain from increased demand for scalable infrastructure, focusing on 5G mobile networks and fixed wireless broadband [2][14] - AT&T Inc. is benefiting from fiber convergence and increased deployment of mid-band spectrum, with a commitment to closing the digital divide [2][16][17] - Liberty Latin America Ltd. is positioned to leverage its end-to-end communications platform and upgraded infrastructure for enterprise-grade connectivity [2][20] Financial Performance - The Zacks Wireless National industry has underperformed the S&P 500 and the broader Zacks Computer and Technology sector, declining 7.8% over the past year compared to the S&P 500's growth of 15.9% [9] - The industry is currently trading at a trailing 12-month EV/EBITDA of 9.03X, significantly lower than the S&P 500's 17.21X and the sector's 19.40X [12] Market Dynamics - Increased infrastructure spending is eroding short-term profit margins due to aggressive promotional expenses and a decline in linear TV subscribers [4] - The deployment of 5G and fiber networks is expected to enhance customer experience with improved coverage and speed, driven by advancements in technology [5] Investment Outlook - Verizon has a long-term earnings growth expectation of 4.8% and has gained 20.8% in the past year, currently holding a Zacks Rank 3 (Hold) [14] - AT&T has a long-term earnings growth expectation of 11.7% and has gained 12.2% over the past year, also holding a Zacks Rank 3 [17] - Liberty Latin America has gained 11.6% in the past year and holds a Zacks Rank 2 (Buy) [20]

Group 1 - The article provides an overview of the investment thesis related to Liberty, particularly in the TMT (Technology, Media, and Telecommunications) sector, highlighting the author's extensive experience in the industry [1] - The author emphasizes the importance of staying connected with relevant companies and themes in the TMT sector, drawing from over 20 years of experience [1] Group 2 - The article does not contain any specific financial data or performance metrics related to Liberty or the TMT sector [2][3]