Liberty Latin America Reports Q3 2022 Results

08 Nov 2022 in

Liberty Latin America Reports Q3 2022 Results

  • Reported revenue up 2% to $1.2 billion and flat on rebased basis; 3% rebased growth ex VTR
  • Over 400,000 organic broadband and postpaid mobile adds in last twelve months
  • Completed 50:50 Chilean Joint Venture on October 6
  • Repurchased over $150 million of shares through to the end of Q3

Denver, Colorado - November 8, 2022: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its financial and operating results for the three months (“Q3”) and nine months (“YTD”) ended September 30, 2022.

CEO Balan Nair commented, “In the third quarter, we continued to drive top-line growth, excluding our Chilean operation, which we combined with Claro Chile through a 50:50 JV in early October. While we experienced some negative impacts from Hurricane Fiona, specifically in Puerto Rico where we anticipate a negative cash flow impact of $20 million this year, we don't anticipate any material ongoing challenges and remain excited about fully integrating our fixed-line and resilient mobile operations in that market.”

“Our focus on broadband and mobile postpaid subscriber growth continued to drive our revenue performance. Broadband subscriber additions were led by double-digit percentage growth, sequential and year-over-year, in Puerto Rico. Mobile postpaid additions for the group were nearly double the prior year period as we continued to grow postpaid penetration across our markets.”

“Strategically, we continue to progress our integration activities across Puerto Rico, Panama, and Costa Rica and are set to deliver significant value for stakeholders as we combine operations and work towards realizing full run-rate synergies in excess of $150 million. In early October, we completed the previously announced JV with Claro in Chile and the new management team is now in place. While that team is early in their planning and integration processes, we expect them to drive significant synergies consistent with our plans and to drive operational growth.”

“Overall, we continued to make progress in the quarter and anticipate a seasonally strong end to the year. We are focused on driving operational performance across the group and integrating our acquisitions. Through these initiatives, we expect to deliver significant Adjusted FCF growth in the coming years.”