ATN Lifts 2026 Adjusted EBITDA Outlook After Tower Sale

The Tip Desk · November 11, 2026 · 3 min read

The company now expects 2026 Adjusted EBITDA at the high end of, or modestly above, its prior $183 million to $193 million range after third-quarter revenue of $183.2 million.

ATN International (ATNI), a digital infrastructure and communications provider, said it now expects 2026 Adjusted EBITDA at the high end of, or modestly above, its previously communicated range of $183 million to $193 million, after a third quarter in which revenue and Adjusted EBITDA held steady year over year following the second-quarter initial closing of the U.S. tower sale.

Consolidated revenue was $183.2 million in the third quarter ended September 30, 2026, stable versus a year earlier and down from $184.5 million in the second quarter, when revenue had risen 2% year over year. Adjusted EBITDA stayed at $50 million and Adjusted EBITDA margin at 27.3%. Operating income increased 32% to $12.9 million, benefiting from lower depreciation and amortization and lower losses on asset dispositions.

Chief Executive Officer Naji Khoury said that excluding the impact of the second-quarter U.S. Tower Portfolio Sale, communication services revenue would have increased by 1% and Adjusted EBITDA by 6%. He said strong performance in the International segment amid a heightened competitive environment, together with continued improvement in the U.S. segment, particularly Alaska, reflected the benefits of strategic initiatives.

International Telecom revenue increased 2% to $96.9 million, as growth in ancillary services, mobility, and carrier services more than offset a previously disclosed loss of a government subsidy. Operating income and Adjusted EBITDA each increased 9%, and Adjusted EBITDA margin expanded 240 basis points to 37.4%. The company said those results reflected a continued focus on initiatives to simplify operations and improve operating efficiency.

US Telecom revenue decreased 2% to $86.3 million, as growth in business fixed and carrier services was more than offset by the tower sale, lower construction revenue, and the timing of certain government subsidies. Excluding the sale, communication services revenue would have increased 1%. US Telecom operating income improved to $2.1 million, driven by lower depreciation and amortization that more than offset higher operating costs associated with the sale. Excluding the sale, Adjusted EBITDA would have increased 2% and Adjusted EBITDA margin would have expanded 60 basis points.

High-speed broadband homes passed increased by 4% in the third quarter, after a 21% expansion to 523,400 in the second quarter. High-speed broadband customers were relatively unchanged, reflecting increased competition in certain international markets.

Net income attributable to ATN stockholders increased to $18.6 million, and diluted earnings per share increased to $1.09 from $0.18, primarily reflecting higher operating income, lower interest expense and a greater tax benefit.

On June 2, 2026, the company completed the initial closing of the sale of approximately 214 tower sites in the southwest U.S. and received $267.7 million in cash. It may receive up to an additional $29.6 million at subsequent closings expected in or by June 2027, subject to construction and operational conditions on deferred sites.

Cash, cash equivalents, and restricted cash totaled $351.5 million as of September 30, 2026, compared with $117.2 million as of December 31, 2025. Total debt declined to $537.5 million from $565.2 million, and the Net Leverage Ratio improved to 0.94x from 2.36x.

For the nine months ended September 30, 2026, net cash provided by operating activities was $76.7 million, compared with $97.7 million in the same period last year, primarily due to working capital timing. Capital expenditures were $66.4 million, net of $34.8 million of reimbursable capital expenditures.

Capital expenditures for full-year 2026 continue to be expected in the original range of $105 million to $115 million, net of reimbursable expenditures. On October 9, 2026, the company paid a quarterly dividend of $0.29 a share. It did not repurchase any shares during the third quarter, leaving the full $30 million authorized under its repurchase program available.