Liberty Latin America (NYSE:LILA) Q3 2019 Earnings Conference Call Transcript

Nov 06, 2019 • 09:00 am ET

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Liberty Latin America (NYSE:LILA) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning ladies and gentlemen and thank you for standing by. Today's call is being recorded. I will now turn the call over to Inge Smidts CEO Cable & Wireless. Please go ahead.

Executive
Inge Smidts

Good morning and welcome to Liberty Latin America Third Quarter 2019 Investor Call. [Operator Instructions]Today's formal presentation materials can be found under the Investor Relations section of Liberty Latin America's website at www.lla.com. [Operator Instructions]As a reminder this call is being recorded. Today's remarks may include forward-looking statements including the company's expectations with respect to its outlook and future growth prospects and other information and statements that are not historical fact. Actual results may differ materially from those expressed or implied by these statements. Additional information on factors or risks that could cause results to differ is available in Liberty Latin America's most recently filed Form 10-K and Form 10-Q. Liberty Latin America disclaims any obligation to update any of these forward-looking statements to reflect any changes in its expectations or in the conditions on which any such statement is based. In addition on this call we will refer to certain non-GAAP financial measures which are reconciled to the most comparable GAAP financial measures which can be found in the appendix to this presentation and on our Investor Relations website.

I would now like to turn the call over to our CEO Mr. Balan Nair.

Executive
Balan Nair

Thank you Inge and welcome everybody to our third quarter results presentation. As usual I am joined by my senior leadership team from across the region while we will get them involved as needed during the Q&A. The structure of this call will be familiar to you. I'm going to start by taking you through our highlights and operating results for the third quarter before wrapping up with a strategic update. Chris Noyes our Chief Financial Officer will then follow through with some prepared remarks reviewing our financial performance and touching upon our 2019 financial guidance which I'm pleased to say we are reconfirming with these results. After that we will get straight to your questions. As a point of housekeeping we will both be working from slides which you can find on our website at www.lla.com. Let me start on Slide four with our key highlights for the third quarter. We continue to deliver solid operational performance adding 67000 fixed and 13000 mobile subscribers in Q3 which brings our combined year-to-date additions to over 270000. This represents a significant increase compared to the first 3 quarters of 2018 and it's a clear indicator that we are improving our commercial execution.

Our financial performance was solid in Q3 generating $967 million of revenue and $380 million of OZF. Not that these figures were impacted by Hurricane Dorian. Also, the quarters rebates revenue and OZF growth rates were negatively impacted by the SEC funding we received last year, Puerto Rico, Chris will take you to the respective details in his life. More importantly, we are we confirming a financial guidance for the next we