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]