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Mar 31, 2022
American Tower Q1 2022 Earnings Report
Reported strong financial results driven by growth in organic tenant billings and strategic investments.
Key Takeaways
American Tower Corporation reported a strong start to 2022, with total revenue increasing by 23.2% to $2,660 million and net income increasing by 7.7% to $703 million. The company's growth was driven by accelerating organic tenant billings growth in all reported segments and strategic investments in 5G and 4G infrastructure.
Total revenue increased by 23.2% to $2,660 million.
Property revenue increased by 22.1% to $2,601 million.
Net income increased by 7.7% to $703 million.
Adjusted EBITDA increased by 12.8% to $1,624 million.
American Tower
American Tower
American Tower Revenue by Segment
American Tower Revenue by Geographic Location
Revenue by Segment
U.S. & Canada Prop. Revenue
CapyFin.comLatin America Prop. Revenue
CapyFin.comAfrica & APAC Prop. Revenue
CapyFin.comEurope Prop. Revenue
CapyFin.comServices Revenue
CapyFin.comData Centers Revenue
CapyFin.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
American Tower provided full year 2022 outlook based on assumptions believed to be reasonable as of April 27, 2022. The company is raising the midpoint of its full year 2022 outlook for property revenue, net income attributable to AMT common stockholders, Adjusted EBITDA, Consolidated AFFO and AFFO attributable to AMT common stockholders by $75 million, $3 million, $55 million, $5 million and $10 million, respectively.
Positive Outlook
- Total property revenue is expected to be between $10,295 million and $10,475 million.
- Net income is projected to be between $2,020 million and $2,130 million.
- Adjusted EBITDA is anticipated to be between $6,555 million and $6,665 million.
- Consolidated AFFO is forecasted to be between $4,705 million and $4,815 million.
- AFFO attributable to AMT common stockholders is expected to be between $4,545 million and $4,655 million.
Challenges Ahead
- Net income and net income attributable to AMT common stockholders are negatively impacted by the foreign currency gain of $558 million in 2021.
- U.S. & Canada growth rate includes an estimated negative impact of nearly 1% associated with a decrease in non-cash straight-line revenue recognition.
- International growth rate includes an estimated negative impact of approximately 3% from the translational effects of foreign currency exchange rate fluctuations.
- The outlook is based on average foreign currency exchange rates, which are subject to change and could impact actual results.
- Actual results may differ materially from these estimates as a result of various factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income