ATN International outlined its fiber growth strategy and capital-return plans during the 17th Annual Midwest IDEAS Conference on August 27, 2026. The company reported second-quarter revenue of $728 million, up about 2% year-over-year, while adjusted EBITDA rose roughly 9% to $190 million. Adjusted EBITDA margin expanded by 170 basis points to 26.1% in the period.
The operator received $268 million in cash from the initial close of a tower portfolio sale and expects an additional $41 million from a spectrum transaction closing next year. Proceeds have been used to reduce debt; total outstanding borrowings stood at $513 million with a leverage ratio of 0.91 times and $240 million of undrawn credit capacity. ATN also repaid $68 million on its revolving facility.
Full-year 2026 guidance calls for adjusted EBITDA of $183 million to $193 million and net capital expenditures of $105 million to $115 million, excluding reimbursable spending. The company has deployed $38 million in capex and received $27 million in reimbursements in the first half of the year. Normalized long-run capex is expected to run between 10% and 15% of revenue.
Shareholder returns were highlighted, with a quarterly dividend raised 5.5% to $0.29 per share, marking 29 consecutive years of uninterrupted payouts. The stock yielded 3.79% at a closing price near $30, with a one-year total return of 102% and a trailing P/E of 2.95.
ATN serves approximately 2,000 employees across the U.S., Caribbean, and Latin America, with revenue split evenly between business and consumer segments. In the Caribbean, homes passed totaled 273,000 with 135,000 connected, for a penetration rate of about 49.5%. Guyana’s fixed-line market leads the country, while fiber rollouts in the Cayman Islands aim for full coverage within 18 months. The U.S. segment, focused on Alaska and the Southwest, has 251,000 homes passed and roughly 6,000 active customers, with EBITDA margins in the low-20% range.
Management discussed competitive dynamics with low-Earth orbit satellite providers such as Starlink, estimating potential customer share loss of 2% to 4% due to technical constraints including limited beam capacity. ATN views satellites as both partners for remote coverage and competitors in select markets.
