ATN International, Inc. (NASDAQ:ATNI) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET

Company Participants

Michael Prior - CEO

Justin Benincasa - CFO

Conference Call Participants

Ric Prentiss - Raymond James

Greg Burns - Sidoti & Company

Hamed Khorsand - BWS Financial

Operator

Good day, and thank you for standing by. Welcome to the ATN International third quarter 2022 earnings conference call and webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. I would now like to hand the conference over to your speaker today, Mr. Justin Benincasa, Chief Financial Officer of the Company. Please go ahead, sir.

Justin Benincasa

Great. Thank you, operator, and good morning, everyone. Today, we'll be reviewing our third quarter 2022 earnings results. With me here is Michael Prior, ATN's Chief Executive Officer. Michael will be providing an update on our business and strategy, as well as high-level overview of our quarterly results. I’ll cover the relevant financial information and provide additional color where necessary. As a reminder, we released our third quarter earnings press release last night after market close. Investors can find the release and summary slides for the call or on our Investor Relations website.

Before I turn the call over to Michael, I'd like to point out that this call, our press release and slides, contain forward-looking statements concerning our current expectations, objectives, and underlying assumptions regarding our future operating results. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described. In an effort to provide useful information to investors, our comments today include non-GAAP financial measures. For details on these measures and reconciliations to comparable GAAP measures, and for further information regarding the factors that may affect our future operating results, please refer to our earnings release on our website at atni.com or to the 8-K filing provided to the SEC.

And I’ll now turn the call over to Michael for his prepared remarks.

Michael Prior

All right. Thank you, Justin, and welcome, everyone. The third quarter of 2022 was another good quarter for ATN, one where we served our customers well, advanced our strategic broadband buildout, and made excellent progress toward our three-year growth objectives. For example, we grew the homes passed by our broadband networks to about 614,000 at the end of the quarter, which was 9% higher than a year ago. Of this amount, we added about 29,000 new homes passed by fiber or other higher speed solutions. Our ongoing network investments are also reflected in our subscriber levels. As of September 30, 2022, 54% of our 205,000 broadband subscribers were connected to our higher speed networks. That represents an increase of nearly 13% year-over-year. Other metrics we track as part of our three-year plan are also showing good progress. For example, we ended the quarter with 356,000 mobile subscribers in our international segment, up about 9.5% from a year ago, as a result of our sales and marketing efforts and investments.