ATNI News & Events

ATN International announced that Commnet Wireless and certain of its subsidiaries have entered into a purchase sale agreement with an affiliate of Everest Infrastructure Partners, a provider of wireless infrastructure, to divest its portfolio of 214 Southwestern U.S. towers and related operations for up to $297M in an all cash transaction. The company currently expects estimated taxes, payments to minority investors in the tower portfolio, and transaction-related expenses will total 25%-30% of the gross proceeds received. The company expects the initial closing of the transaction to occur in Q2 generating gross proceeds of $250M-$270M. Of this initial closing amount, $20M-$35M will be subject to resolution of certain post-closing conditions within twelve months. Subsequent closings, totaling $27M-$47M, are anticipated to occur over the twelve months following the initial closing, subject to the achievement of specified milestones within the tower portfolio. Upon full completion of the transaction, the company expects the estimated twelve-month impact on consolidated and US Telecom segment revenue, operating income, and EBITDA would result in reductions of $5M-$7M, $4M-$6M, and $10M-$13M, respectively. The company intends to allocate approximately $70M of the initial transaction proceeds to repay borrowings under its CoBank revolving credit facility.

ATN International announced that its Board of Directors has approved a quarterly dividend increase of 15% to 27.5c per share. The quarterly dividend will be payable on July 7, 2025, on all common shares outstanding to stockholders of record as of June 30. "The Board's decision to increase the dividend at this time reflects our confidence in the company's financial strength and future cash flow generation," said Brad Martin, ATN's CEO. "As we move forward, we remain focused on monetizing the investments made during our recent three-year strategic capital spending cycle, supported by ongoing cost management and efficiency initiatives. These efforts reinforce our commitment to disciplined capital allocation and our confidence in delivering sustained long-term value to our shareholders."

Sees FY25 adjusted EBITDA essentially flat with the prior year; CapEx $90M-$100M net of reimbursements; and net Debt Ratio to remain flat, with a slight potential improvement exiting 2025 compared with 2024. "At ATN, we remain committed to maximizing the value of our investments in our "First-to-Fiber" and "Glass & Steel" market strategies, which we launched in early 2022," said Brad Martin, ATN CEO. "By aligning our capital expenditures with historical levels-targeting 10-15% of revenues-and leveraging available grant funding, we are driving sustainable network expansion while maintaining financial discipline. Looking ahead to 2025, our focus is on expanding cash flow to fully realize the benefits of these investments, positioning ATN for long-term growth and profitability. We anticipate international revenue growth in the low single digits in 2025, while domestic revenue will reflect our transition from legacy services to carrier-managed solutions. Although we expect that this shift will result in a short-term decline in domestic revenue, it is a necessary step toward strengthening our long-term competitive position. From a profitability standpoint, we expect International Adjusted EBITDA to expand in 2025, driven by revenue growth and continued cost optimization. Domestically, we are streamlining our infrastructure to align with future opportunities. While this transition will temporarily impact Adjusted EBITDA, we believe that it will ultimately create a stronger foundation for sustainable growth."