Liberty Latin America (LILA) Q1 FY2022 earnings: revenue $1.2 billion, up 4.3% on the year

Liberty Latin America Ltd. (LILA) reported revenue of $1.2 billion for Q1 FY2022, the quarter ended 31 March 2022, up 4.3% on the same quarter a year earlier. Net income was $78 million, down 11.9% on the year, and diluted earnings per share $0.36. The figures are the company's own, from the 10-Q it filed with the SEC on 4 May 2022.

Revenue$1.2 billionup 4.3%

Net income$78 milliondown 11.9%

Diluted EPS$0.36

QuarterQ1 FY2022ended 31 March 2022

The quarter, against the one before and a year earlier

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Revenue	1,216	1,279	n/a	n/a
Cost of revenue	303	343	n/a	n/a
Gross profit	912	936	n/a	n/a
Gross margin	75.0%	73.2%	n/a
Operating income	184	-395	n/a	n/a
Operating margin	15.1%	-30.8%	n/a
Interest expense	130	130	n/a	n/a
Pre-tax income	112	-570	n/a	n/a
Income tax	22.8	84.4	n/a	n/a
Effective tax rate	20.3%	n/a	n/a
Net income	78.5	-618	n/a	n/a
Net margin	6.5%	-48.4%	n/a
Diluted EPS	$0.36	-$2.61	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Operating cash flow	122	298	n/a	n/a
Capital expenditure	175	257	n/a	n/a
Free cash flow	-53.1	41.5	n/a	n/a
Free cash flow margin	-4.4%	3.2%	n/a
Cash from investing	-189	-193	n/a	n/a
Cash from financing	-78.2	-104	n/a	n/a
Depreciation and amortisation	214	228	n/a	n/a
Share-based compensation	30.0	29.2	n/a	n/a
Buybacks	55.3	33.0	n/a	n/a
Diluted shares, weighted	250m	233m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Shareholders' equity	2,268	2,236	n/a	n/a
Non-controlling interest	687	677	n/a	n/a
Debt	7,582	7,558	n/a	n/a
Operating lease liabilities	361	371	n/a	n/a
Other liabilities	4,333	4,543	n/a	n/a
Total liabilities and equity	15,231	15,386	n/a	n/a
Fixed assets	4,136	4,168	n/a	n/a
Goodwill	3,928	3,948	n/a	n/a
Intangible assets	735	789	n/a	n/a
Cash and equivalents	857	957	n/a	n/a
Receivables	549	536	n/a	n/a
Other assets	5,027	4,988	n/a	n/a
Total assets	15,231	15,386	n/a	n/a

Questions

What was Liberty Latin America's revenue in Q1 FY2022?

Liberty Latin America (LILA) reported revenue of $1.2 billion for Q1 FY2022, the quarter ended 31 March 2022, up 4.3% on the same quarter a year earlier.

How much did Liberty Latin America earn in Q1 FY2022?

Net income for Q1 FY2022 was $78 million, down 11.9% on the year, and diluted earnings per share $0.36.

When did Liberty Latin America report Q1 FY2022 results?

Liberty Latin America filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 4 May 2022.

Quarterly results, the last 20 quarters

	Q3 FY2021 †	Q4 FY2021 * †	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 †	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,196	1,279	1,216	1,213	1,222	1,159	1,102	1,120	1,126	1,159	1,099	1,118	1,089	1,150	1,084	1,087	1,112	1,160	1,083	1,103
Cost of revenue	297	343	303	301	299	307	246	235	259	284	240	245	232	272	233	232	248	263	236	229
Gross profit	899	936	912	912	923	852	855	886	867	874	859	873	857	878	851	854	865	896	847	874
Gross margin	75%	73%	75%	75%	76%	73%	78%	79%	77%	75%	78%	78%	79%	76%	79%	79%	78%	77%	78%	79%
Operating income	136	-395	184	-356	152	107	107	135	163	113	92.8	111	-380	128	128	-333	188	126	145	181
Operating margin	11%	-31%	15%	-29%	12%	9%	10%	12%	14%	10%	8%	10%	-35%	11%	12%	-31%	17%	11%	13%	16%
Interest expense	137	130	130	137	149	141	147	149	152	154	156	156	159	156	158	165	164	168	164	168
Pre-tax income	112	-570	112	-472	121	116	-56.2	45.7	58.3	-110	4.6	-72.8	-575	11.6	-118	-571	11.8	n/a	10.5	24.0
Tax rate	36%	n/a	20%	n/a	32%	-14%	n/a	65%	18%	n/a	111%	n/a	n/a	1486%	n/a	n/a	-35%	n/a	254%	144%
Net income	76.1	-618	78.5	-464	75.7	139	-65.6	35.1	59.7	-103	-0.5	-42.7	-436	-178	-136	-423	3.3	n/a	-22.7	-24.0
Net margin	6%	-48%	6%	-38%	6%	12%	-6%	3%	5%	-9%	-0%	-4%	-40%	-15%	-13%	-39%	0%	n/a	-2%	-2%
Diluted EPS	$0.32	-$2.61	$0.36	-$2.10	$0.34	$0.57	-$0.30	$0.16	$0.29	n/a	$0.00	-$0.22	-$2.22	-$0.87	-$0.69	-$2.12	$0.02	n/a	-$0.11	-$0.13
Operating cash flow	274	298	122	225	145	377	62.4	226	218	390	23.3	157	178	399	24.6	141	178	462	42.2	217
Capital expenditure	232	257	175	192	224	225	145	192	150	162	110	140	126	164	96.7	139	122	142	99.3	121
Free cash flow	42.2	41.5	-53.1	33.1	-79.3	152	-82.3	33.2	68.7	228	-86.4	16.4	51.0	235	-72.1	1.9	56.0	320	-57.1	96.0
Buybacks	20.7	33.0	55.3	64.1	33.5	17.5	21.9	58.4	30.5	7.5	56.0	26.9	0.0	0.0	0.0	0.0	0.0	0.0	14.3	12.1
Filing	10-Q	10-K	10-K	10-K	10-Q	10-K	10-K	10-K	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2022, filed 4 May 2022: the filing.