Third Quarter 2026
Filed Nov 4, 2026ATN International, Inc. Reports Third Quarter 2026 Results and Updates 2026 Full Year Outlook Reports a 32% increase in operating income and consistent year-over-year revenue and Adjusted EBITDA
Revenue and Adjusted EBITDA were stable year over year, while operating income increased 32% and diluted earnings per share increased to $1.09 from $0.18. The Company updated its full-year Adjusted EBITDA outlook to the high end of, or modestly above, its previous range.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Third quarter total revenueGAAP | $183.2M | – | stable |
| Third quarter operating incomeGAAP | $12.9M | – | increased 32% |
| Third quarter net income attributable to ATN stockholdersGAAP | $18.6M | – | increased |
| Third quarter diluted earnings per shareGAAP | $1.09 | – | increased |
| Third quarter Adjusted EBITDAnon-GAAP | $50M | – | stayed consistent |
| Third quarter Adjusted EBITDA Marginnon-GAAP | 27.3% | – | stayed consistent |
| High-speed broadband homes passedother | increased by 4% | – | increased by 4% |
| High-speed broadband customersother | relatively unchanged | – | relatively unchanged |
| Net cash provided by operating activities for the nine months ended September 30GAAP | $76.7M | – | decreased |
| Capital expenditures, net of reimbursable capital expenditures, for the nine months ended September 30GAAP | $66.4 million, net of $34.8 million of reimbursable capital expenditures | – | – |
| Cash, cash equivalents, and restricted cashGAAP | $351.5M | – | – |
| Total debtGAAP | $537.5M | – | declined |
| Net Leverage Rationon-GAAP | 0.94x | – | improved |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| International TelecomGrowth in ancillary services, mobility, and carrier services revenue more than offset the previously disclosed loss of a government subsidy. | $96.9M | – | increased 2% |
| US TelecomGrowth in business fixed and carrier services revenue was more than offset by the impact of the U.S. Tower Portfolio Sale, lower construction revenue, and the timing of certain government subsidies. | $86.3M | – | decreased 2% |
Full-year 2026 outlook
- NoteAdjusted EBITDA is now expected to be at the high end or modestly above its previous range of $183 million to $193 million
- NoteCapital expenditures continue to be expected in the original range of $105 million to $115 million (net of reimbursable expenditures)
Capital returns
- On October 9, 2026, the Company paid a quarterly dividend of $0.29 per share to stockholders of record as of October 3, 2026.
- The Company did not repurchase any shares during the third quarter.
- As of September 30, 2026, the full $30 million authorized under the Company’s repurchase program remained available for future repurchases.
What drove it
- International Telecom benefited from ancillary services, mobility, and carrier services revenue growth, as well as initiatives to simplify operations and improve operating efficiency.
- US Telecom business fixed and carrier services revenue grew, and lower depreciation and amortization expense supported operating income.
- Consolidated operating income benefited from lower depreciation and amortization and lower losses on asset dispositions.
- Net income and diluted earnings per share benefited from higher operating income, lower interest expense and a greater tax benefit.
- Excluding the impact of the U.S. Tower Portfolio Sale, communication services revenue would have increased by 1%, and Adjusted EBITDA by 6%.
Concerns
- High-speed broadband customers were relatively unchanged, reflecting increased competition in certain international markets.
- US Telecom revenue decreased 2%, reflecting the U.S. Tower Portfolio Sale, lower construction revenue, and the timing of certain government subsidies.
- The International Telecom segment faced the previously disclosed loss of a government subsidy.
- Net cash provided by operating activities decreased, primarily driven by working capital timing.
- The Company expects to replace revenue declines in its US Telecom businesses resulting from the pending US tower portfolio sale through carrier, enterprise broadband, and consumer-based broadband services.
What to watch
- Whether full-year 2026 Adjusted EBITDA reaches the high end of, or modestly above, the previous range of $183 million to $193 million.
- Capital expenditures within the expected $105 million to $115 million range, net of reimbursable expenditures.
- International Telecom customer trends amid heightened competition.
- US Telecom communication services revenue following the U.S. Tower Portfolio Sale.
- Subsequent closings of the U.S. Tower Portfolio Sale and the potential additional cash consideration of up to $29.6 million.
Balance sheet and cash flow
- Cash, cash equivalents, and restricted cash totaled $351.5 million as of September 30, 2026, compared to $117.2 million as of December 31, 2025.
- Total debt declined to $537.5 million on September 30, 2026, from $565.2 million on December 31, 2025.
- Net Leverage Ratio was 0.94x as of September 30, 2026.
- Net cash provided by operating activities was $76.7 million for the nine months ended September 30, 2026, compared to $97.7 million in the same period last year.
- Capital expenditures were $66.4 million, net of $34.8 million of reimbursable capital expenditures, for the nine months ended September 30, 2026.
Analysis
ATN reported stable third-quarter revenue of $183.2 million and Adjusted EBITDA of $50 million, with Adjusted EBITDA Margin holding at 27.3%. The stable consolidated result included a 2% increase in International Telecom revenue to $96.9 million, which offset a 2% decline in US Telecom revenue to $86.3 million. Management said that, excluding the U.S. Tower Portfolio Sale, communication services revenue would have increased by 1% and Adjusted EBITDA by 6%.
Profitability improved more sharply than revenue. Operating income increased 32% to $12.9 million, supported by lower depreciation and amortization and lower losses on asset dispositions. Net income attributable to ATN stockholders increased to $18.6 million, while diluted earnings per share increased to $1.09 from $0.18. The Company attributed the earnings improvement to higher operating income, lower interest expense and a greater tax benefit.
International Telecom was the principal growth contributor, with ancillary services, mobility, and carrier services revenue more than offsetting the loss of a government subsidy. The segment also reported 9% increases in operating income and Adjusted EBITDA, with a 240 basis point expansion in Adjusted EBITDA Margin to 37.4%. US Telecom faced pressure from the tower sale, lower construction revenue and government-subsidy timing, although business fixed and carrier services revenue grew and operating income improved to $2.1 million due to lower depreciation and amortization expense.
Balance-sheet flexibility increased following the tower transaction. Cash, cash equivalents, and restricted cash totaled $351.5 million at September 30, 2026, while total debt was $537.5 million and the Net Leverage Ratio improved to 0.94x from 2.36x on December 31, 2025. For the nine months ended September 30, 2026, operating cash flow was $76.7 million compared with $97.7 million in the prior-year period, with the decline attributed primarily to working-capital timing.
Management updated its full-year 2026 outlook and expects Adjusted EBITDA at the high end of, or modestly above, the prior $183 million to $193 million range. Capital expenditures remain expected in the original $105 million to $115 million range, net of reimbursable expenditures. Key reported operating issues remain relatively unchanged high-speed broadband customers amid heightened international competition and the need for US Telecom services growth to offset tower-sale-related revenue effects.
Management, verbatim
During the third quarter, consolidated revenue and Adjusted EBITDA remained flat year over year, while operating income and earnings per share increased even with the impact of the second-quarter US Tower Portfolio Sale.
Naji Khoury, ATN’s Chief Executive Officer
Excluding the impact of the sale, communication services revenue would have increased by 1%, and Adjusted EBITDA by 6%. Strong performance in our International segment amid a heightened competitive environment, together with continued improvement in our US segment, particularly Alaska, reflects the benefits of our strategic initiatives, and underscores the resilience of our business.
Naji Khoury, ATN’s Chief Executive Officer
Looking ahead, we are updating our full-year outlook and now expect Adjusted EBITDA for 2026 to be at the high end of, or modestly above, our previously communicated guidance range.
Naji Khoury, ATN’s Chief Executive Officer
Not in the filing
stated, not guessed- Third-quarter prior-year total revenue amount
- Third-quarter prior-year operating income amount
- Third-quarter prior-year net income attributable to ATN stockholders amount
- Third-quarter prior-year Adjusted EBITDA amount
- Third-quarter prior-year Adjusted EBITDA Margin
- Third-quarter gross profit and gross margin
- Third-quarter operating cash flow
- Third-quarter capital expenditures
- Free cash flow
- Third-quarter International Telecom operating income and Adjusted EBITDA amounts
- Third-quarter US Telecom prior-year operating income amount
- Third-quarter US Telecom Adjusted EBITDA amount
- Corporate and Other financial results
- Full-year 2026 revenue, gross margin, operating expenses and tax-rate guidance
- Prior outlook document for a metric-by-metric comparison with reported results
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.