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 September 30, 2024. ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 001-14195 | --- | --- | --- | |----------------------------------------------------------------------------|---------------------------------------------------- ...

American Tower Corporation’s (AMT) shares have declined nearly 4% in today’s trading session on a lower 2024 outlook.Its third-quarter 2024 adjusted funds from operations (AFFO) per share, attributable to AMT common stockholders, of $2.64 beat the Zacks Consensus Estimate of $2.54 and climbed 2.3% year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results reflect a year-over-year rise in revenues, aided by revenue growth across its service operations segment. American To ...

American Tower Corporation (NYSE:AMT) Q3 2024 Earnings Call Transcript October 29, 2024 8:30 AM ET Company Participants Adam Smith - SVP of IR & FP&A Steve Vondran - President and CEO Rod Smith - EVP, CFO, and Treasurer Conference Call Participants Ric Prentiss - Raymond James David Barden - Bank of America Simon Flannery - Morgan Stanley James Schneider - Goldman Sachs Batya Levi - UBS Nick Del Deo - MoffettNathanson Brandon Nispel - KeyBanc Capital Markets Richard Choe - JPMorgan Operator Ladies and gentl ...

AMERICAN TOWER® C O R P O R A T I O N Third Quarter 2024 Earnings Conference Call October 29, 2024 Agenda Introduction Adam Smith Senior Vice President, Investor Relations & FP&A Opening Remarks Steven Vondran President and Chief Executive Officer Rod Smith Executive Vice President, Chief Financial Officer and Treasurer Financial Results Q&A 2 Forward-Looking Statements 3 "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements ...

Core Insights - American Tower (AMT) reported a revenue of $2.52 billion for Q3 2024, reflecting a year-over-year decline of 10.5% and falling short of the Zacks Consensus Estimate of $2.76 billion by 8.78% [1] - The company achieved an EPS of $2.64, which is an increase from $1.26 a year ago, resulting in an EPS surprise of 3.94% against the consensus estimate of $2.54 [1] Financial Performance Metrics - U.S. & Canada Ending Balance: 41,928 compared to the estimated 42,064 [3] - Total Ending Balance: 147,299 versus the estimated 172,777 [3] - Organic Tenant Billings Growth - Total International: 5.7%, exceeding the estimate of 4.5% [3] - Organic Tenant Billings Growth - U.S. & Canada: 5%, above the estimate of 4.7% [3] - Geographic Revenues - Total International: $918 million, significantly lower than the estimated $1.16 billion, representing a year-over-year decline of 26.9% [3] - Geographic Revenues - U.S. & Canada: $1.32 billion, matching the estimate, with a year-over-year change of -0.5% [3] - Geographic Revenues - Asia-Pacific: $6 million, far below the estimate of $239.65 million, indicating a year-over-year decline of 98% [3] - Geographic Revenues - Europe: $213 million, slightly above the estimate of $202.13 million, with a year-over-year increase of 6.5% [3] - Geographic Revenues - Latin America: $403 million, below the estimate of $426.01 million, reflecting a year-over-year decline of 12.4% [3] - Total Operating Revenues - Data Centers: $234 million, slightly above the estimate of $231.88 million, with a year-over-year increase of 10.4% [3] - Total Operating Revenues - Services: $52 million, below the estimate of $55.32 million, but showing a year-over-year increase of 100% [3] - Total Operating Revenues - Total Property: $2.47 billion, below the estimate of $2.71 billion, representing a year-over-year decline of 11.5% [3] Stock Performance - American Tower's shares have returned -4.5% over the past month, contrasting with the Zacks S&P 500 composite's increase of 1.7% [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

American Tower (AMT) came out with quarterly funds from operations (FFO) of $2.64 per share, beating the Zacks Consensus Estimate of $2.54 per share. This compares to FFO of $2.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 3.94%. A quarter ago, it was expected that this wireless communications infrastructure company would post FFO of $2.53 per share when it actually produced FFO of $2.79, delivering a surprise of 10.28%.Over t ...

Financial Performance - Total revenue for Q3 2024 was $2,522 million, reflecting a growth of less than 0.1% compared to the previous year[3]. - The net loss for Q3 2024 was $(780) million, a decrease of 235.2% compared to the previous year, with a net loss attributable to AMT common stockholders of $(792) million[3][4]. - Adjusted EBITDA for the quarter was $1,687 million, down 0.9%, with an adjusted EBITDA margin of 66.9%[4]. - Total operating revenues for Q3 2024 were $2,522.3 million, slightly up from $2,521.1 million in Q3 2023[31]. - Operating income increased to $1,139.2 million in Q3 2024, compared to $913.0 million in Q3 2023, reflecting a growth of 24.8%[31]. - Net income from continuing operations for Q3 2024 was $428.1 million, down from $774.8 million in Q3 2023, indicating a decline of 44.7%[31]. - The company reported a net loss attributable to common stockholders of $792.3 million for Q3 2024, compared to a net income of $586.9 million in Q3 2023[31]. - The company reported a net loss of $780.4 million for the three months ended September 30, 2023, compared to a net income of $577.3 million in the prior year[39]. Revenue and Growth Projections - Total property revenue decreased by 1.0% to $2,470 million, while total tenant billings growth was $106 million, representing a growth of 5.9%[4]. - The midpoint of the full year 2024 outlook for total property revenue and Adjusted EBITDA has been raised by $15 million and $5 million, respectively[10]. - Total property revenue for 2024 is projected to be between $9,890 million and $9,980 million, reflecting a growth rate of approximately 0.7% compared to the prior year[12]. - Net income is expected to range from $1,992 million to $2,072 million, representing a significant increase of 48.6% year-over-year[12]. - Adjusted EBITDA is forecasted to be between $6,770 million and $6,850 million, indicating a growth of 1.8% from the previous year[12]. - Total tenant billings growth is projected at approximately 6% for 2024, with organic tenant billings growth expected to be around 4.7%[15]. - The company reported a revenue growth of (4.2)% in the U.S. and a significant increase of 18.8% in Asia Pacific[35]. Cash Flow and Distributions - The company declared cash distributions of $1.62 per share, totaling $757 million for Q3 2024[7]. - Cash provided by operating activities increased to $4,091.5 million from $3,580.5 million year-over-year[33]. - Cash used for financing activities was $4,543.9 million, compared to $2,281.5 million in the previous year[33]. - The net increase in cash and cash equivalents was $188.8 million, up from $90.9 million in the prior year[33]. - The company’s cash and cash equivalents increased to $2,150.3 million as of September 30, 2024, from $1,753.7 million at the end of 2023, a growth of 22.6%[29]. Capital Expenditures and Financial Health - Total capital expenditures for the quarter were approximately $433 million, including $43 million for non-discretionary improvements[7]. - Capital expenditures for 2024 are estimated to be between $1,500 million and $1,610 million, including discretionary capital projects and redevelopment[16]. - The net leverage ratio as of September 30, 2024, was 5.2x, with total debt at $37,098 million and net debt at $34,948 million[8]. - The Net Leverage Ratio, calculated as net debt divided by annualized Adjusted EBITDA, is critical for understanding the Company's financial health[25]. Tenant Billings and Revenue Components - The Company reported significant revenue components including Tenant Billings, New Site Tenant Billings, and Organic Tenant Billings, which provide insights into the underlying demand for its real estate portfolio[22]. - Tenant Billings primarily come from long-term leases, with key aspects including colocations/amendments, escalations, cancellations, and new sites impacting revenue[22]. - New Site Tenant Billings reflect day-one revenue from sites built or acquired since the prior-year period, enhancing analysis of portfolio growth[22]. - Organic Tenant Billings represent revenue from sites owned since the beginning of the prior-year period, indicating the ability to add tenancy and revenue[24]. Foreign Currency Impact - The company expects a negative impact of approximately $25 million on total property revenue due to foreign currency fluctuations in its 2024 outlook[10]. - The Company highlighted the impact of foreign currency exchange on revenue, as fluctuations can distort performance metrics[23]. - The company experienced a foreign currency exchange impact of $8 million on total tenant billings for the current period[37]. - The company experienced foreign currency exchange rate fluctuations resulting in losses of $337.4 million for the three months ended September 30, 2024, compared to gains of $239.0 million in the same period in 2023[41]. Risks and Forward-Looking Statements - The Company anticipates potential risks affecting future performance, including leasing demand, customer creditworthiness, and competition[27]. - Forward-looking statements indicate expectations for full year 2024 outlook and strategic partnerships, with actual results subject to various risks[27].

American Tower Corporation (AMT) is scheduled to release third-quarter 2024 results on Oct. 29, before the opening bell. The quarterly results are expected to reflect a year-over-year decline in revenues and funds from operations (FFO) per share. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. In the last quarter, American Tower reported an adjusted FFO per share of $2.79, which beat the consensus mark by 10.3%. The quarterly results reflected better-than-anticipated revenues, aide ...

Group 1 - The article expresses the author's unique insights and knowledge in stock analysis, aiming to provide contrasting views on their portfolio [1] - The author emphasizes the importance of conducting personal in-depth research and due diligence before making investment decisions [2] - The article clarifies that the author has no current or planned positions in any mentioned companies, ensuring transparency [1] Group 2 - The analysis is intended solely for informational purposes and should not be considered professional investment advice [2] - It highlights that past performance is not indicative of future results, cautioning investors about the inherent risks in trading [2] - The article notes that the views expressed may not reflect those of the platform as a whole, indicating a diversity of opinions among analysts [2]

In its upcoming report, American Tower (AMT) is predicted by Wall Street analysts to post quarterly earnings of $2.54 per share, reflecting a decline of 1.6% compared to the same period last year. Revenues are forecasted to be $2.76 billion, representing a year-over-year decrease of 1.9%.The consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates duri ...