Liberty Latin America Ltd. · Q2 2023 earnings

Briefing

Reported sequential financial and operational growth with a 2% increase in Q2 revenue and 52,000 organic internet and postpaid mobile net adds. Accelerated buyback activity with $132 million in stock and convertible bond repurchases.

Liberty Latin America reported sequential financial and operational growth in Q2 2023. The company reported revenue of $1.1 billion and operating income of $140 million. The company reconfirmed its 2023 financial guidance.

• C&W Caribbean saw continued organic subscriber additions and financial growth, with 23,000 internet and mobile postpaid organic adds and reported and rebased Adj. OIBDA growth of 9% and 8%, respectively.
• C&W Panama experienced strong growth driven by synergies from the prior year Claro Panamá acquisition, with reported and rebased revenue growth of 28% and 4%, respectively, and Adj. OIBDA growth of 33% and 42%, respectively.
• Liberty Networks demonstrated solid performance with reported and rebased revenue growth of 2% and 5%, respectively, rebranding as “Liberty Networks” to focus on infrastructure and enterprise solutions.
• Liberty Costa Rica showed postpaid operational momentum and strong Adj. OIBDA growth, with Adj. OIBDA up 41% and 10% on a reported and rebased basis, respectively, driven by prepaid to postpaid migration efforts.

Headline financials

Revenue & EPS history

The company reconfirmed its 2023 financial guidance targets supported by continued subscriber additions and organic financial momentum, synergies from integration activities, particularly in Panama, and focus on operating cost and capex discipline.