ATN International (ATNI) Reports Q3 Loss, Lags Revenue Estimates

ATN International (ATNI - Free Report) has reported a quarterly loss of $0.10 per share for the period ending September 2024. This performance is better than the Zacks Consensus Estimate, which anticipated a loss of $0.16. In comparison, the company posted a loss of $0.24 per share during the same quarter last year, with these figures adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 37.50%. In the previous quarter, ATN International was expected to incur a loss of $0.26 per share but instead achieved earnings of $0.50, reflecting a significant surprise of 292.31%.

Over the last four quarters, ATN has surpassed consensus EPS estimates on two occasions.

For the quarter ended September 2024, the company generated revenues of $178.45 million, which fell short of the Zacks Consensus Estimate by 3.90%. This figure is lower than the revenue of $191.04 million reported in the same quarter last year. The company has exceeded consensus revenue expectations twice over the same four-quarter period.

The immediate price movement of ATN International’s stock will depend on management's comments during the earnings call regarding the recently announced numbers and future earnings expectations.

Since the beginning of the year, ATN International's shares have declined approximately 18.8%, contrasting with the S&P 500, which has seen a gain of 22.1%.

What’s Next for ATN International?

Given ATN International's underperformance in the market this year, investors are keen to understand the stock's future trajectory.

While predicting the answer to this question is challenging, one reliable metric to consider is the company's earnings outlook. This encompasses the current consensus earnings expectations for upcoming quarters and any recent changes to these forecasts.

Research indicates a strong connection between near-term stock movements and trends in earnings estimate revisions. Investors can monitor these revisions independently or utilize a reputable tool like the Zacks Rank, known for its effectiveness in forecasting based on earnings estimate changes.

Leading up to this earnings release, the trend for ATN International's estimate revisions has been positive. Despite possible shifts in the direction and magnitude of these estimates following the earnings report, the stock currently holds a Zacks Rank #2 (Buy), suggesting it is expected to outperform the market shortly. A complete list of Zacks #1 Rank (Strong Buy) stocks can be found here.

The forthcoming weeks will reveal how earnings estimates for the next quarters and the current fiscal year evolve. The consensus EPS estimate for ATN International stands at $0.07 based on projected revenues of $187.27 million for the upcoming quarter, and $0.09 on expected revenues of $743.01 million for the entire fiscal year.

It’s also essential for investors to note that industry outlooks can significantly impact stock performance. The Wireless National industry, where ATN operates, is currently ranked in the top 30% of over 250 Zacks industries. Historically, industries ranked in the top half tend to outperform those in the bottom half by a factor exceeding 2:1.

In the same industry, Gogo (GOGO - Free Report) has yet to release its results for the quarter ending September 2024, with an expected announcement date of November 5. Gogo is anticipated to report quarterly earnings of $0.05 per share, reflecting a year-over-year decline of 68.8%. The consensus estimate for Gogo’s upcoming quarter has remained steady over the last 30 days. Gogo's revenues are anticipated at $96.95 million, representing a slight decrease of 1% compared to the previous year.

Earnings, Loss, Revenue