Liberty Puerto Rico lifts margins as revenue pressures rise
Liberty Latin America’s latest quarterly results show that Liberty Puerto Rico is improving profitability even as revenue remains under pressure, signaling a business in transition as it works to rebuild customer confidence and restore growth in a competitive telecommunications market.
For the third quarter of 2025, Liberty Puerto Rico reported $95.5 million in adjusted operating income before depreciation and amortization (OIBDA), an 8% year-over-year increase and its strongest quarterly profitability since late 2023.
That result represented a 32% margin, up from 28.6% a year earlier, driven by a broad cost-reduction program that has reshaped the company’s operating structure.
Property and equipment additions dropped to $28 million from $45.9 million a year ago as the company redirected capital toward targeted network upgrades instead of broad expansion projects.
Revenue fell to $298.2 million, down 3% from the same period last year, reflecting continued weakness in mobile and business segments. Residential mobile revenue declined 7%, and business-to-business revenue fell 16%, lingering effects of last year’s mobile network migration.
For the first nine months of 2025, Liberty Puerto Rico revenue totaled $897.9 million, down 5% from $944 million in the same period of 2024.
Despite the top-line decline, Liberty Puerto Rico said customer stability has improved, noting reduced churn and a higher net promoter score.
“Our Q3 results show that our financial progress is steady and moving in the right direction,” General Manager Guillermo Ponce said. “This past quarter, we reached the highest quarterly adjusted OIBDA since [the fourth quarter] 2023.”
A key contributor was the launch of Liberty Mix, the company’s new postpaid customer plan, which Ponce said has been “positively accepted in the market” and is generating “substantial and profitable sales.”
Liberty also introduced a new fixed-services campaign promoting its Smart Wi-Fi technology and a 30-day network satisfaction guarantee. The company said the guarantee reflects confidence in “the best and most reliable mobile network in Puerto Rico.”
Capital spending in Puerto Rico remained significant. Through the first nine months of 2025, Liberty invested $94.1 million in its networks, down from $135.8 million a year earlier as it prioritized capacity, speed and resilience upgrades over large-scale construction.
Looking ahead, Liberty Puerto Rico plans to step up promotion of Loop, its fixed-mobile convergence bundle. The strategy is central to Liberty’s long-term plan to strengthen customer relationships and expand its presence in high-value segments.
“By combining services, customers can take full advantage of our fixed and mobile products and services to obtain the greatest value for their money,” Ponce said.
At the regional level, Liberty Latin America generated more than $1.11 billion in total third-quarter revenue, up 2% from a year earlier, with $433 million in adjusted OIBDA.
Puerto Rico remained one of the group’s largest markets, accounting for more than a quarter of total revenue and delivering one of the strongest year-over-year OIBDA improvements across the company’s operations.
Hurricane Melissa hits Jamaica operations
Liberty Latin America also reported that Hurricane Melissa caused widespread damage in Jamaica, weighing on the company’s regional outlook.
The Category 5 storm inflicted “significant damage to homes, businesses and infrastructure,” particularly in the island’s western region, while sparing Kingston from the worst long-term effects, said Liberty Latin America CEO Balan Nair.
In Jamaica, where the company operates a major communications network and employs hundreds of workers, downed power systems and extensive structural damage have complicated restoration efforts.
Liberty said it is repairing and rebuilding essential infrastructure to restore service as quickly as possible and has partnered with Starlink to provide direct-to-cell satellite coverage to customers and emergency teams while the local network stabilizes.
The company expects the storm to affect financial results through the end of 2025 and into 2026 but said its parametric insurance program has been triggered and will provide proceeds in the fourth quarter to “rebuild impacted components of our network and mitigate loss of revenue,” Nair said.
