Overview

• Caribbean and LatAm telecom's Q1 revenue was flat yr/yr at $1.08 bln, operating income rises 13%

• Adjusted OIBDA for Q1 was flat, with hurricane and project timing as headwinds

• Company to distribute $500 mln in preferred stock and resumed share buybacks

Outlook

• Company intends to distribute $500 mln in preferred stock with a 9% dividend rate before end-Q2

Result Drivers

• HURRICANE IMPACT - Full-quarter effect of Hurricane Melissa weighed on revenue and Adjusted OIBDA, especially in Liberty Caribbean

• PROJECT TIMING - Lower B2B project revenue, especially in Liberty Networks and C&W Panama, affected results due to timing of project milestones

• COST INITIATIVES - Cost reduction efforts, particularly in Puerto Rico, helped offset revenue declines and supported Adjusted OIBDA

Company press release: ID:nBw1LK86ha

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$1.08 bln
Q1 Adjusted OIBDA		$405 mln

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Liberty Latin America Ltd is $8.00, about 1.8% below its May 6 closing price of $8.15

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