Leonardo Curtidor's questions to Liberty Latin America Ltd (LILA) leadership • Q1 2025
Question
Leonardo Curtidor asked if the Q1 stock-based compensation (SBC) level was indicative of the full-year trend and if buybacks would offset it. He also requested an estimate for full-year cash interest expenses following recent refinancing activity.
Answer
CFO Christopher Noyes indicated that the higher weighted average interest cost from recent refinancings would increase year-over-year interest expense but noted the company's swap portfolio provides an offset. For SBC, he stated grants typically occur in H1 and the trend would not be dissimilar to prior years. CEO Balan Nair added that a key benefit of the refinancing was extending the debt maturity profile.