Financial Performance - Liberty Latin America reported Q1 2024 revenue of $1,099 million, a slight decline of 1% year-over-year from $1,102 million[6]. - Adjusted OIBDA for Q1 2024 was $374 million, down 6% from $400 million in Q1 2023[6]. - The net loss attributable to shareholders was $1 million in Q1 2024, a significant improvement from a loss of $66 million in Q1 2023[18]. - For the three months ended March 31, 2024, consolidated revenue was $620.3 million, representing a 2% increase from $607.2 million in the same period of 2023[36]. - Operating income increased by 35% to $81.6 million compared to $60.6 million in Q1 2023[36]. - Adjusted OIBDA rose by 8% to $266.7 million, up from $247.0 million year-over-year[36]. - Liberty Puerto Rico reported a revenue decline of 10% to $327.2 million, down from $363.5 million in Q1 2023[39]. - Liberty Puerto Rico's operating loss was $9.4 million, a significant decrease from an operating income of $55.2 million in the prior year[39]. - Adjusted OIBDA for Q1 2024 was $374.2 million, down from $400.1 million in Q1 2023, reflecting a decrease of 6.5%[67]. - Operating income margin decreased to 8.4% in Q1 2024 from 9.7% in Q1 2023, indicating a decline in operational efficiency[67]. - Adjusted Free Cash Flow (Adjusted FCF) for Q1 2024 was $(149.7) million, compared to $(49.8) million in Q1 2023, showing a significant deterioration in cash flow performance[70]. - Net cash provided by operating activities decreased to $23.3 million in Q1 2024 from $62.4 million in Q1 2023, highlighting a decline in operational cash generation[70]. Subscriber Metrics - The company added 45,000 organic broadband and postpaid mobile subscribers in Q1 2024, with significant contributions from Jamaica and Panama markets[1][2]. - The total mobile subscribers decreased by 70,000, with a net loss of 93,200 prepaid subscribers in Q1 2024[24]. - Total subscribers reached 7,907,400, with 3,779,200 in mobile subscribers, including 192,400 Corporate Responsible Users (CRUs)[44]. - The company reported a total of 2,383,800 Revenue Generating Units (RGUs), with 1,006,500 in video, 862,900 in internet, and 514,400 in telephony RGUs[44]. - The average revenue per user (ARPU) for C&W Caribbean was $48.69, down 2% from $49.66 in the previous quarter[26]. - Liberty Puerto Rico's ARPU decreased by 1% to $72.82 from $73.32 in the previous quarter[26]. Revenue Growth by Segment - C&W Caribbean segment achieved a 3% revenue growth, while C&W Panama reported a 2% revenue increase, driven by acquisition synergies[6][10]. - Liberty Costa Rica experienced an 18% revenue growth, supported by a favorable foreign exchange impact and increased mobile revenue[10][13]. - Liberty Costa Rica's revenue increased by 8% to 78.3 billion CRC, compared to 72.7 billion CRC in Q1 2023[41]. - Liberty Costa Rica's operating income surged by 107% to 17.4 billion CRC from 8.4 billion CRC year-over-year[41]. Capital Expenditures and Debt - For the three months ended March 31, 2024, total capital expenditures were $109.7 million, a decrease of 3.9% from $114.1 million in the same period of 2023[20]. - The consolidated debt and finance lease obligations to operating income ratio increased to 19.7x as of March 31, 2024, compared to 15.0x at December 31, 2023[21]. - The company reported a consolidated gross leverage ratio of 5.0x, up from 4.8x at the end of 2023[21]. - Total debt and finance lease obligations decreased from $8,179.9 million on December 31, 2023, to $8,056.0 million on March 31, 2024[79]. - The company has an unused borrowing capacity of $870.5 million as of March 31, 2024, slightly up from $869.0 million at the end of 2023[21]. Strategic Initiatives - The company is focused on expanding its network capacity and enhancing service offerings to drive growth[60]. - New product and technology developments are ongoing, aimed at improving operational efficiency and customer satisfaction[60]. - The company is actively pursuing market expansion strategies, including potential acquisitions and partnerships[61]. - Future guidance indicates a commitment to maintaining subscriber growth and improving financial performance through strategic initiatives[66].
Liberty Latin America(LILAK) - 2024 Q1 - Quarterly Results