UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One): ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended March 31, 2025. ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 001-14195 AMERICAN TOWER CORPORATION (Exact name of registrant as specified in its charter) Delaware 65-0723837 (State or other jurisdiction of Incorporation or Org ...

American Tower Corporation’s (AMT) shares have gained nearly 4% in today’s trading session in response to stellar first-quarter results.Its first-quarter 2025 adjusted funds from operations (AFFO), attributable to AMT common stockholders per share, of $2.75 beat the Zacks Consensus Estimate of $2.60. However, the figure declined 1.4% year over year.Results reflect a year-over-year rise in revenues, aided by revenue growth across its property and service operations segment. American Tower recorded healthy ye ...

American Tower (AMT) Q1 2025 Earnings Call April 29, 2025 01:49 PM ET Speaker0 Ladies and gentlemen, thank you for standing by. Welcome to the American Tower First Quarter twenty twenty five Earnings Conference Call. As a reminder, today's conference is being recorded. Following their prepared remarks, we will open the call for questions. If you would like to ask a question, please press 11 on your telephone. You would then hear an automated message advising your hand is raised. To withdraw your question, p ...

For the quarter ended March 2025, American Tower (AMT) reported revenue of $2.56 billion, down 9.6% over the same period last year. EPS came in at $2.75, compared to $1.96 in the year-ago quarter.The reported revenue represents a surprise of +1.98% over the Zacks Consensus Estimate of $2.51 billion. With the consensus EPS estimate being $2.60, the EPS surprise was +5.77%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ex ...

First Quarter 2025 Earnings Conference Call April 29, 2025 © 2025 ATC TRS V LLC. All rights reserved. | American Tower Confidential and Proprietary Agenda Introduction Adam Smith Senior Vice President, Investor Relations and FP&A Opening Remarks Steven Vondran President and Chief Executive Officer Financial Results Rod Smith Executive Vice President, Chief Financial Officer and Treasurer Q&A (1) Q1 2024 results for total property revenue, total revenue, Adjusted EBITDA, AFFO attributable to AMT common stock ...

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American Tower (AMT) Q1 2025 Earnings Call April 29, 2025 08:30 AM ET Company Participants Adam Smith - SVP, IRSteven Vondran - President & CEORodney Smith - Executive VP, CFO & TreasurerRic Prentiss - Managing DirectorNick Del Deo - Managing DirectorMichael Funk - SVPBenjamin Swinburne - Head of U.S Media ResearchJonathan Atkin - Managing Director Conference Call Participants Matt Niknam - AnalystJim Schneider - Senior Equity AnalystMichael Rollins - AnalystBatya Levi - Managing Director - Communications, ...

Financial Performance - Total revenue for Q1 2025 increased by 2.0% to $2,563 million, while total property revenue rose by 0.2% to $2,488 million[5][6]. - Net income decreased by 45.9% to $499 million, primarily due to foreign currency losses, with net income attributable to AMT common stockholders down 46.7% to $489 million[6][12]. - Adjusted EBITDA increased by 1.9% to $1,744 million, with an Adjusted EBITDA margin of 68.1%[5][6]. - Total operating revenues for Q1 2025 were $2,562.8 million, a 2.0% increase from $2,512.6 million in Q1 2024[72]. - Operating income increased to $1,254.1 million in Q1 2025, up 10.0% from $1,141.0 million in Q1 2024[72]. - Net income from continuing operations was $498.6 million in Q1 2025, a decrease of 40.0% compared to $830.0 million in Q1 2024[72]. - Basic net income per share from continuing operations was $1.05 in Q1 2025, down from $1.77 in Q1 2024[72]. - Nareit FFO attributable to common stockholders was $816.0 million in Q1 2025, down from $1,344.1 million in Q1 2024, indicating a decline of 39%[86]. - AFFO attributable to common stockholders for Q1 2025 was $1,290.2 million, slightly down from $1,303.1 million in Q1 2024[95]. - AFFO per share for Q1 2025 was $2.75, compared to $2.79 in Q1 2024, reflecting a decrease of 1.4%[95]. Revenue Outlook - The company raised the midpoints of its full year 2025 outlook for property revenue, Adjusted EBITDA, and AFFO attributable to AMT common stockholders by $50 million, $30 million, and $20 million, respectively, due to estimated positive foreign currency impacts[24]. - Total property revenue for 2025 is projected to be between $9,970 million and $10,120 million, reflecting a growth rate of 1.1% compared to the prior year[26]. - Net income is expected to range from $2,740 million to $2,840 million, representing a significant increase of 22.4% year-over-year[26]. - Adjusted EBITDA is forecasted to be between $6,885 million and $6,955 million, with a growth rate of 1.6% compared to the previous year[26]. - AFFO attributable to AMT common stockholders is projected to be between $4,850 million and $4,940 million, showing a slight decline of 0.8% year-over-year, but an adjusted growth of 5.0%[26]. - U.S. & Canada segment property revenue is estimated to be between $5,190 million and $5,250 million, with a growth rate of (0.5)%, impacted by a 4% decrease in non-cash straight-line revenue recognition[26]. - International property revenue is expected to be between $3,755 million and $3,825 million, with a growth rate of 0.8%, affected by nearly 5% from foreign currency exchange rate fluctuations[26]. - Data Centers segment property revenue is projected to be between $1,025 million and $1,045 million, reflecting a robust growth rate of 11.9%[26]. Capital Expenditures and Investments - Capital expenditures for Q1 2025 were approximately $340 million, with $38 million allocated for non-discretionary improvements[9]. - Capital expenditures for 2025 are expected to total between $1,635 million and $1,745 million, including $610 million for Data Centers segment development[32]. - The company acquired 242 communication sites for approximately $148 million, including 145 sites in the U.S. and 97 in Europe[10]. - The company completed the sale of its fiber assets in South Africa for approximately $137.7 million, resulting in a gain of about $53.6 million[12]. Debt and Leverage - The company's Net Leverage Ratio as of March 31, 2025, was 5.0x, with total debt at $36,862 million and cash and cash equivalents at $2,104 million[14][15]. - Net Debt stands at $34,045.4 million, with a Net Leverage Ratio calculated based on the quarter's annualized Adjusted EBITDA, which is critical for credit agency ratings[61]. - The company incurred interest expense of $325.3 million in Q1 2025, a decrease from $363.8 million in Q1 2024[72]. - Cash interest expense decreased to $311.5 million in Q1 2025 from $350.8 million in Q1 2024, showing a reduction of 11%[95]. Asset and Equity Changes - Total current assets increased to $3,506.1 million as of March 31, 2025, compared to $3,178.8 million on December 31, 2024, reflecting a growth of 10.3%[71]. - Total liabilities increased to $52,119.3 million as of March 31, 2025, compared to $51,428.7 million at the end of 2024, reflecting a rise of 1.3%[71]. - The company’s total equity rose to $9,936.3 million, up from $9,648.7 million, indicating a growth of 3.0%[71]. Operational Metrics - The Adjusted EBITDA Margin is a key performance measure, calculated as Adjusted EBITDA divided by total revenue, providing insight into operational profitability[54]. - Tenant Billings Growth is a critical metric, reflecting the increase in recurring Tenant Billings adjusted for foreign currency fluctuations, which is essential for assessing demand for the real estate portfolio[67]. - The company emphasizes the importance of organic growth in Tenant Billings, which is a measure of its ability to add tenancy and revenue to its assets[63]. - Total tenant billings growth was 2.0%, with organic tenant billings growth at 4.7%[76]. - The prior-year tenant billings were $1,864 million, with new site tenant billings contributing $10 million in the current period[76]. - The impact of foreign currency exchange on total tenant billings was a decrease of $53 million[76]. - The segment gross margin for the current period was $1,928 million, with a gross margin percentage of 70%[76]. - The gross margin for total property in Q1 2025 was $1,471.0 million, compared to $1,423.7 million in Q1 2024, representing an increase of 3.3%[96]. Conference and Communication - The company will host a conference call to discuss its financial results and outlook for 2025, providing further insights into its performance and strategies[37].

Core Viewpoint - Analysts forecast a decline in American Tower's quarterly earnings and revenues, with EPS expected at $2.60, down 6.8% year-over-year, and revenues projected at $2.51 billion, down 11.3% compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised 1.3% lower over the last 30 days, indicating a reevaluation by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical studies show a strong relationship between earnings estimate revisions and short-term stock performance [3]. Revenue Projections - Analysts predict 'Total operating revenues - Data Centers' at $250.28 million, reflecting an increase of 11.2% year-over-year [5]. - 'Total operating revenues - Services' is expected to reach $60.28 million, indicating a significant increase of 100.9% year-over-year [5]. - The consensus for 'Total operating revenues - Total Property' stands at $2.45 billion, showing a decline of 12.7% year-over-year [5]. Geographic Revenue Estimates - 'Geographic Revenues - Total International' is estimated at $896.32 million, down 29.4% from the previous year [6]. - 'Geographic Revenues - U.S. & Canada' is projected to be $1.30 billion, reflecting a slight decline of 0.8% year-over-year [6]. - 'Geographic Revenues - Africa' is expected to reach $305.65 million, up 4.7% year-over-year [7]. - 'Geographic Revenues - Latin America' is projected at $381.27 million, down 14.5% from the previous year [7]. Ending Balance Estimates - The 'U.S. & Canada - Ending Balance' is expected to be 41,759, down from 42,427 in the same quarter last year [8]. - The consensus for 'Total - Ending Balance' is 173,697, compared to 222,643 a year ago [8]. Organic Tenant Billings Growth - 'Organic Tenant Billings Growth - Total International' is projected at 5.7%, down from 6.5% in the same quarter last year [9]. - 'Organic Tenant Billings Growth - U.S. & Canada' is expected to be 3.8%, down from 4.6% in the same quarter last year [9]. Stock Performance - American Tower shares have increased by 1.2% in the past month, contrasting with the S&P 500 composite's decline of 5.1% [10].

Core Viewpoint - The article expresses a bullish sentiment towards uniQure N.V. following the announcement of 24-month trial data for its Phase 1/2 clinical trials for AMT-130, a gene therapy for Huntington's Disease [1]. Company Summary - uniQure N.V. is involved in developing gene therapies, specifically targeting Huntington's Disease with its investigational product AMT-130 [1]. - The company has released promising trial data that may enhance investor confidence and interest in its stock [1]. Analyst Background - The author has extensive experience in investment and financial analysis, particularly focusing on Canadian small-cap stocks [1]. - The author aims to leverage their expertise to identify trading opportunities and provide quality analysis in the capital markets [1].