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Liberty Latin America Ltd. (LILA) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Liberty Latin America Ltd.

CIK: 1712184 Ticker: LILA
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Exhibit 99.1
Liberty Latin America Reports First Quarter 2021 Results
Record Q1 RGU additions of 76,000 led by C&W and Puerto Rico
Revenue up 25% driven by Puerto Rico acquisition, rebased revenue flat
Operating income of $178 million, up 65% YoY
Adj. OIBDA reported growth of 23% to $449 million, or rebased growth of 3%
Denver, Colorado - May 5, 2021: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its financial and operating results for the three months (“Q1”) ended March 31, 2021.
CEO Balan Nair commented, “We had a strong start to the year as our focus on volume resulted in record Q1 RGU additions of 76,000, over 25% higher than the prior year, as well as continued recovery in our mobile operations. Overall, our markets are beginning to recover from the worst impacts of the pandemic, however, the operating environment remains challenging given reduced tourism and government imposed lockdowns and restrictions continuing during the quarter.”
“Fixed subscribers grew across all of our markets, with particularly strong performance in Puerto Rico where we maintained momentum from 2020 and saw close to three times as many RGU additions in the first quarter as compared to the prior-year period. There remains a significant broadband penetration opportunity across our region and during the first quarter we added or upgraded approximately 130,000 homes using fiber technologies to bring high-speed connectivity to more customers. Mobile additions were also particularly strong for the first quarter, driven by over 60,000 adds in Panama.”
“We reported $1.2 billion in revenue, $178 million of operating income and $449 million in Adjusted OIBDA in the first quarter. Despite the ongoing impact of the pandemic on our financial performance, particularly across our mobile and B2B operations, we delivered rebased Adjusted OIBDA growth of 3%, our strongest result in a year. Furthermore, we had a record Q1 in terms of cash flow from operations and Adjusted Free Cash Flow, posting $204 million and $58 million, respectively.”
“As part of our proactive balance sheet management, we successfully refinanced over $1 billion of our debt across Puerto Rico and Chile in March. These financings improved our average debt tenor, reduced our borrowing costs, and added $250 million of incremental capital to our corporate balance sheet.”
“Overall, we started the year well and anticipate that the regional operating environment will improve as vaccination rates increase and local economies recover in the coming months and quarters. In addition to our organic growth opportunities, we continue to drive the integration of AT&T's Puerto Rico and USVI operations and are working towards a summer completion of the acquisition of Telefónica's Costa Rica assets.”
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The following information was filed by Liberty Latin America Ltd. (LILA) on Wednesday, May 5, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Earnings (Loss)
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Operations
Accounting Changes And Recent Accounting Pronouncements
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Preliminary Opening Balance Sheet (Details)
Acquisitions - Pro Forma Information (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Commitments (Details)
Current Expected Credit Losses
Current Expected Credit Losses (Tables)
Current Expected Credit Losses - Changes In Allowance For Credit Loss (Details)
Debt And Finance Lease Obligations
Debt And Finance Lease Obligations (Tables)
Debt And Finance Lease Obligations - Components Of Debt (Details)
Debt And Finance Lease Obligations - Components Of Debt Narrative (Details)
Debt And Finance Lease Obligations - Maturities Of Debt (Details)
Debt And Finance Lease Obligations - Vtr Finance Senior Note (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Cross-Currency Derivative Contracts (Details)
Derivative Instruments - Fair Values Of Derivative Assets And Liabilities (Details)
Derivative Instruments - Interest Rate Derivative Contracts (Details)
Derivative Instruments - Narrative (Details)
Derivative Instruments - Net Cash Received (Paid) Related To Derivatives (Details)
Derivative Instruments - Realized And Unrealized Gains (Losses) On Derivatives (Details)
Earnings Or Loss Per Share
Earnings Or Loss Per Share (Details)
Earnings Or Loss Per Share (Tables)
Equity
Equity - Share Repurchase Program (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Income Taxes
Income Taxes - Narrative (Details)
Leases
Leases (Tables)
Leases - Lease Expense (Details)
Leases - Lease Maturities Of Operating Lease Liabilities (Details)
Leases - Operating Leases Assets And Liabilities (Details)
Long-Lived Assets
Long-Lived Assets (Tables)
Long-Lived Assets - Goodwill (Details)
Long-Lived Assets - Intangible Assets Subject To Amortization, Net (Details)
Long-Lived Assets - Property And Equipment, Net (Details)
Other Operating Costs And Expenses
Other Operating Costs And Expenses (Details)
Other Operating Costs And Expenses (Tables)
Programming And Other Direct Costs Of Services
Programming And Other Direct Costs Of Services (Details)
Programming And Other Direct Costs Of Services (Tables)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Geographic Segments (Details)
Segment Reporting - Narrative (Details)
Segment Reporting - Performance Measures (Details)
Segment Reporting - Property And Equipment Additions Of Our Reportable Segments (Details)
Segment Reporting - Reconciliation Of Operating Cash Flow To Earnings From Continuing Operations (Details)
Segment Reporting - Revenue By Major Category (Details)
Share-Based Compensation
Share-Based Compensation - Sars (Details)
Unfulfilled Performance Obligations
Unfulfilled Performance Obligations (Details)
Ticker: LILA
CIK: 1712184
Form Type: 10-Q Quarterly Report
Accession Number: 0001712184-21-000129
Submitted to the SEC: Wed May 05 2021 4:18:05 PM EST
Accepted by the SEC: Wed May 05 2021
Period: Wednesday, March 31, 2021
Industry: Cable And Other Pay Television Services

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