Liberty Global Stock Earnings Reports

Liberty Latin America (LLA) reported a solid operating quarter with revenue of $1.1 billion and adjusted OIBDA of $433 million (rebased growth of 1% revenue and 7% adjusted OIBDA YoY). Key operational highlights included the strongest postpaid net additions in three years (+100k+ postpaid net adds, led by Costa Rica) and continued momentum in B2B, particularly enterprise and government contracts. Adjusted OIBDA less P&E additions expanded 22% YoY to $284 million, reflecting initiatives to lower capital intensity (P&E additions at 13% of revenue) and ongoing cost reductions. Segment developments: Liberty Caribbean performed well overall but Jamaica was materially impacted by Hurricane Melissa — partial service recovery is underway, Starlink Direct‑to‑Cell was deployed to provide emergency connectivity, and LLA’s parametric insurance is expected to deliver a rapid payout to support rebuild efforts. C&W Panama and Liberty Networks showed strong B2B/wholesale growth (MAYA‑1.2 subsea upgrade launched), and Costa Rica delivered robust postpaid growth but faces regulatory headwinds after a Sutel resolution blocking the Millicom transaction (appeal filed). Puerto Rico is stabilizing with margin gains driven by aggressive cost reduction and new product initiatives (FMC push, “always‑on” backup, Wi‑Fi improvements), though revenue remains pressured from prior migration losses. Balance sheet: consolidated total debt ~$8.4 billion, cash ~$600 million, borrowing capacity ~$900 million, net leverage 4.6x (would be mid‑3x excluding Puerto Rico). Puerto Rico raised $250 million secured financing ( ~$200 million drawn). Short‑term cash/FCF was depressed in Q3 by collections timing (government receivables) and fewer handset monetization proceeds vs. prior year, but management expects robust free cash flow in Q4 and continued focus on organic growth, capital allocation options (deleveraging, buybacks, dividends), and unlocking intrinsic share value.