Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

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Equity Bottom-Up

<ul>
<li>ATNI is getting set to undergo management change right when the Company was to begin harvesting cash flow from several years of capital expenditures</li>
<li>In 2024, CEO would move to Executive Chairman and the CFO plans to retire. In their place, ATNI has named Brad Martin as CEO and Carlos Doglioli as CFO</li>
<li>Current COO has overseen the investment in Alaska and other markets ATNI has been placing fiber lines in an attempt to thwart competition before there was a severe pricing pressure</li>
</ul>


ATNI is getting set to undergo management change right when the Company was to begin harvesting cash flow from several years of capital expenditures
In 2024, CEO would move to Executive Chairman and the CFO plans to retire. In their place, ATNI has named Brad Martin as CEO and Carlos Doglioli as CFO
Current COO has overseen the investment in Alaska and other markets ATNI has been placing fiber lines in an attempt to thwart competition before there was a severe pricing pressure


<ul>
<li>ATNI is benefiting from its capital expenditure investments through an increase in revenue and adjusted EBITDA, but it has come with the price of higher interest expense</li>
<li>ATNI reported third quarter results showing subscriber growth in each of its markets, but that was not enough to mend the cost of capital that has increased this year</li>
<li>ATNI is now projecting 2024 capital expenditures to decline materially in what could result in improving ATNI’s debt balance over the next four quarters</li>
</ul>


ATNI is benefiting from its capital expenditure investments through an increase in revenue and adjusted EBITDA, but it has come with the price of higher interest expense
ATNI reported third quarter results showing subscriber growth in each of its markets, but that was not enough to mend the cost of capital that has increased this year
ATNI is now projecting 2024 capital expenditures to decline materially in what could result in improving ATNI’s debt balance over the next four quarters


<ul>
<li>ATNI is in the last stretch of its capital expenditure spending plan and subscriber count is beginning to support the larger and faster network</li>
<li>ATNI has grown the number of high-speed broadband and mobile customers, which is fueling the efficiency in the operating model.</li>
<li>The transition away from wholesale wireless roaming to network management should further improve the operating structure of the business.</li>
</ul>


ATNI is in the last stretch of its capital expenditure spending plan and subscriber count is beginning to support the larger and faster network
ATNI has grown the number of high-speed broadband and mobile customers, which is fueling the efficiency in the operating model.
The transition away from wholesale wireless roaming to network management should further improve the operating structure of the business.


<ul>
<li>ATNI started its first quarter earnings call with a tease that is likely to receive investor praise once officially announced. ATNI is finalizing a carrier service agreement </li>
<li>ATNI already has a carrier service agreement with AT&amp;T (T) where ATNI has been building wireless towers for FirstNet</li>
<li>During the first quarter ATNI added more broadband and mobile customers within each of its business segments.</li>
</ul>


ATNI started its first quarter earnings call with a tease that is likely to receive investor praise once officially announced. ATNI is finalizing a carrier service agreement 
ATNI already has a carrier service agreement with AT&amp;T (T) where ATNI has been building wireless towers for FirstNet
During the first quarter ATNI added more broadband and mobile customers within each of its business segments.


<ul>
<li>ATN International (ATNI) grew revenue faster than expected with the buildout of its fiber network in Alaska and the recent acquisition of Sacred Wind.</li>
<li>ATNI has been investing in optical fiber buildout to grow the number of high-speed broadband customers</li>
<li>ATNI reported revenue of $192.0 million compared to our forecast of $183.8 million. The differentiating factor was the growth in commercial revenue in Alaska and revenue associated with Sacred Wind</li>
</ul>


ATN International (ATNI) grew revenue faster than expected with the buildout of its fiber network in Alaska and the recent acquisition of Sacred Wind.
ATNI has been investing in optical fiber buildout to grow the number of high-speed broadband customers
ATNI reported revenue of $192.0 million compared to our forecast of $183.8 million. The differentiating factor was the growth in commercial revenue in Alaska and revenue associated with Sacred Wind


United States

ATN International, Inc. provides telecommunications services to rural, niche, and other under-served markets and geographies.  The Company, through subsidiaries, provides both wireless and wireline connectivity to residential and business customers. ATN International also provides a range of mobile wireless solutions, local exchange services and broadband internet services.

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ATN International (ATNI US)

ATNI: Changing from the Top

Both the CEO and CFO would step down in 2024. The change is not a surprise for us, but the timing is. ATNI is expected to begin harvesting cash...

BWS Financial Inc

ATNI: Turning Away from Debt

ATNI Company has continued to grow the number of subscribers on its fiber and wireless networks. However, debt has continued to increase due to...

BWS Financial Inc

ATNI: Leveraging the Network

Subscriber growth is enabling ATNI to generate adjusted EBITDA that should lead to positive free cash flow by the end of 2024 as the capital...

BWS Financial Inc

ATNI: The Catalyst of a Tease

ATNI continues to experience success in adding broadband and mobile subscribers in its markets. The growth in adjusted EBITDA this year should lead...

BWS Financial Inc

ATNI: Success Masked by Expansion

ATNI reported further success within its Alaska segment. The increase in revenue helps ATNI get closer to achieving free cash flow as it enters the...

BWS Financial Inc

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