ATN is executing over $300 million in broadband infrastructure projects in the U.S., with more than half scheduled for completion in 2025, as part of its long-term growth strategy.
These projects are primarily backed by government funding, aiming to expand fiber networks and improve service in underserved markets.
Management highlighted that these initiatives are crucial for future revenue growth and positioning the company for higher-margin services as the infrastructure comes online.
Adjusted EBITDA decreased 6% to $45.8 million, mainly impacted by lower U.S. Telecom revenues.
Capital expenditures for the first half of 2025 totaled $42 million net of $45.9 million reimbursable capital spend, down from $61.8 million net of $46.2 million reimbursables in the prior year.
Cash balance increased to $113.3 million from $97.3 million at the end of Q1, with total debt at $583.4 million and a net debt ratio of 2.58x.
Net cash from operations increased 2% year-over-year to approximately $60 million, driven by working capital improvements.
Net loss for the quarter was $7 million or $0.56 per share, compared to net income of $9 million or $0.50 per share in the prior year.
Operating income declined to $0.2 million from $24.3 million in the prior year, which included a $15.9 million gain from asset disposition.
Total company revenue for Q2 2025 was $181.3 million, down 1% year-over-year, primarily due to the wind down of subsidy programs and decommissioning of legacy mobile consumer services.
The FCC's review of spectrum policies, including the sunset of the 1.0 spectrum, is seen as a positive tailwind for Sinclair's NEXTGEN data distribution business.
Sinclair supports a review of network affiliate relationships, emphasizing the importance of local broadcasters' independence and the potential for regulatory changes to enhance local journalism.
The company expects these regulatory tailwinds to accelerate industry consolidation and growth, with Sinclair positioned to benefit from increased ownership and operational flexibility.
Array's third-party tower revenues increased by 12% year-over-year, with third-party colocations up 6%.
Capital expenditures increased primarily due to spending on the E-ACAM fiber program.
Cash expenses increased 1% year-over-year, aligned with 2025 priorities including sales, marketing, and transformation efforts.
Distributions from noncontrolling investment interests increased from $58 million to $77 million year-over-year, including $23 million from Verizon wireless partnerships.
S&P upgraded TDS credit rating to BBB- from BB, removing it from credit watch.
TDS closed the $4.3 billion sale of UScellular wireless business and certain spectrum assets to T-Mobile, significantly strengthening balance sheets.
TDS Telecom delivered 27,000 new fiber service addresses in Q2, with 10,300 fiber net additions, representing 19% growth in total fiber connections year-over-year.
Total operating revenues were down 1% year-over-year, but excluding divestitures, revenue increased 1%, driven by fiber subscriber growth and higher residential revenue per connection.
ARPA growth was over 5%, the highest in 8 years, driven by customers self-selecting premium rate plans, including the new Experience Beyond plan.
Core adjusted EBITDA grew 6% year-over-year, and adjusted free cash flow reached a Q2 record of $4.6 billion, with a 26% conversion rate from service revenues.
Fiber broadband is ramping up with the launch of T-Fiber and acquisitions of Lumos and Metronet, targeting 100,000 fiber net additions this year.
Postpaid service revenues grew 9% year-over-year, accelerating from Q1, while total service revenues grew 6%, more than double the rate of closest competitors.
The business group led the industry in net additions, and 5G broadband led the industry for the 14th consecutive quarter in net additions.
T-Mobile delivered its best Q2 ever with record growth in postpaid phone nets, total postpaid net additions, and gross additions, all up double digits year-over-year.
Dafinchi