ATN International: A Deep Value Play With a High-Powered Dividend ATN International (NASDAQ:ATNI) reported higher second-quarter revenue and adjusted EBITDA, citing growth across its international and U.S. operations, while a partial sale of its U.S. tower portfolio materially…
rengthened its cash position and reduced leverage. Total revenue rose 2% year over year to $184.5 million in the second quarter
Excluding lower construction revenue and the expiration of a government subsidy in the U.S. Virgin Islands, revenue increased 3%, Chief Financial Officer Carlos Doglioli said. Adjusted EBITDA increased nearly 9% from the prior-year period to $49.7 million, while adjusted EBITDA margin expanded to 27%.
President and CEO Naji Khoury said the company’s segments delivered positive revenue and adjusted EBITDA growth, with consolidated margin improving by approximately 170 basis points year over year. Tower Sale Drives Reported Profit and Improves Balance Sheet ATN recorded operating income of $240 million during the quarter, primarily reflecting a $230 million gain associated with the initial closing of the U.S. tower portfolio sale. Excluding the gain and $6.3 million in transaction-related charges, operating income was approximately $16.1 million, Doglioli said.