LILAK · Liberty Latin America Ltd.
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AI Brief
Q2 FY26 earnings call · Aug 5, 2026TL;DR. Liberty Latin America returned to year-over-year Adjusted OIBDA growth in Q2 (+3% rebased) and posted a sharp increase in Adjusted FCF, while completing the $500 million preferred stock distribution, announcing a 10-year Amdocs IT deal worth more than $250 million in NPV, and accelerating share repurchases. Hurricane Melissa continued to weigh on Caribbean results and Liberty Puerto Rico revenue declined, with management guiding H2 Adjusted FCF to be less robust than H2 2025.
- + Adjusted OIBDA returned to year-over-year growth in Q2, up 3% rebased
- + Gained 45,000 postpaid mobile and broadband net adds in Q2 with broadband momentum extending beyond Jamaica
- + Adjusted FCF before distributions improved sharply, with H1 up $164 million year-over-year
- + Announced 10-year Amdocs IT deal expected to deliver in excess of $250 million in NPV
- + Completed $500 million preferred stock distribution and announced initial 9% quarterly dividend
- + Accelerated share repurchases to over $60 million year-to-date in 2026 with $140 million authorization remaining
- − Hurricane Melissa continued to weigh on Liberty Caribbean, driving a ~$6 million net revenue and Adjusted OIBDA impact and a 2% rebased revenue decline
- − Liberty Puerto Rico revenue declined 5% year-over-year in Q2
- − Management expects H2 2026 Adjusted FCF to be less robust than H2 2025, in part due to lapping weather derivative proceeds
- − Liberty Puerto Rico Adjusted FCF was negative $48 million in Q2 and negative $91 million in H1 2026
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders illustrative — not investment adviceIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted FCF non-GAAP | $58M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net cash provided by operating activities $216.8M
+$6.6M Cash payments for direct acquisition and disposition costs
+$63.6M Expenses financed by an intermediary
-$120.8M Capital expenditures, net
-$79.9M Principal payments on amounts financed by vendors and intermediaries
-$0.2M Principal payments on finance leases
-$3.4M Repayments of handset receivables securitization, net
-$24.8M Distributions to noncontrolling interest owners
= Adjusted FCF $57.9M
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| Adjusted FCF before distributions to noncontrolling interest owners non-GAAP | $83M | Q2 2026 | — |
| Adjusted OIBDA as a percentage of revenue (Liberty Costa Rica) non-GAAP | 36.8% | Six months ended June 30, 2026 | — |
| Adjusted OIBDA as a percentage of revenue (Liberty Puerto Rico) non-GAAP | 31.5% | Six months ended June 30, 2026 | — |
| Adjusted OIBDA margin non-GAAP | 39.5% | Q2 2026 | — |
| Adjusted OIBDA Margin (C&W Panama) non-GAAP | 37% | Three months ended June 30, 2026 filing | — |
| Adjusted OIBDA Margin (Liberty Caribbean) non-GAAP | 45.5% | Three months ended June 30, 2026 filing | — |
| Adjusted OIBDA Margin (Liberty Costa Rica) non-GAAP | 37.9% | Three months ended June 30, 2026 filing | — |
| Adjusted OIBDA Margin (Liberty Networks) non-GAAP | 51.2% | Three months ended June 30, 2026 filing | — |
| Adjusted OIBDA Margin (Liberty Puerto Rico) non-GAAP | 32.2% | Three months ended June 30, 2026 filing | — |
| C&W Panama Adjusted OIBDA non-GAAP | $65.4M | Q2 2026 | — |
| Consolidated Adjusted OIBDA non-GAAP | $436M | Three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Operating income (loss) $181.2M
+$12.8M Share-based compensation and other Employee Incentive Plan-related expense
+$226.1M Depreciation and amortization
+$15.9M Impairment, restructuring and other operating items, net
= Consolidated Adjusted OIBDA $436M
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| Fixed-line Customer Relationships | 1,839,200 | June 30, 2026 | — |
| Homes Passed | 4,795,200 | June 30, 2026 | — |
| Internet RGUs | 1,760,400 | June 30, 2026 | — |
| Liberty Caribbean Adjusted OIBDA non-GAAP | $164.5M | Q2 2026 | — |
| Liberty Costa Rica Adjusted OIBDA non-GAAP | CRC 56.4B | Six months ended June 30, 2026 | — |
| Liberty Networks Adjusted OIBDA non-GAAP | $66.7M | Q2 2026 | — |
| Liberty Puerto Rico Adjusted OIBDA non-GAAP | $183.8M | Six months ended June 30, 2026 | — |
| Noncontrolling interests' share of Adjusted OIBDA non-GAAP | $93.5M | Six months ended June 30, 2026 | — |
| Postpaid Mobile Subscribers | 2,645,600 | June 30, 2026 | — |
| Prepaid Mobile Subscribers | 4,114,200 | June 30, 2026 | — |
| Proportionate Adjusted OIBDA non-GAAP | $484.9M | Six months ended June 30, 2026 | — |
| Telephony RGUs | 1,212,500 | June 30, 2026 | — |
| Total Mobile Subscribers | 6,759,800 | June 30, 2026 | — |
| Total reportable segment Adjusted OIBDA non-GAAP | $453.1M | Three months ended June 30, 2026 filing | — |
| Total RGUs | 3,883,500 | June 30, 2026 | — |
| Video RGUs | 910,600 | June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Telecom Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
LILAK
this stock
Liberty Latin America Ltd.
|
$1.59B | +60.2% | -0.1% | — | — |
|
SFTBF
Softbank Group Corp.
|
$205.56B | +27.9% | — | — | 0.2% |
|
VZ
Verizon Communications Inc
|
$173.05B | +2.3% | +2.5% | 10.8 | 2.1% |
|
TMUS
T-Mobile US, Inc.
|
$159.38B | -26.8% | +8.3% | 15.5 | 1.3% |
|
T
At&T Inc.
|
$151.99B | -10.7% | +2.7% | 7.4 | 1.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LILAK | -4.5% | -7.0% | +35.4% | -1.2% | +60.2% |
| SPY | +1.2% | +1.9% | +9.9% | +2.1% | +14.2% |
| vs SPY | -5.6% | -8.9% | +25.5% | -3.3% | +46.1% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.