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Mar 31
American Tower Q1 2025 Earnings Report
American Tower delivered modest revenue growth but faced net income pressure due to foreign currency losses in Q1 2025.
Key Takeaways
American Tower saw steady revenue growth and leasing demand but suffered a significant decline in net income primarily due to foreign currency impacts.
Revenue increased 2.0% year-over-year to $2,563,000,000.
Net income dropped 45.9% year-over-year to $499,000,000 due to FX losses.
Adjusted EBITDA grew by 1.9% to $1,744,000,000.
AFFO per share, as adjusted, rose 6.6% year-over-year.
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.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
American Tower raised property revenue, Adjusted EBITDA, and AFFO guidance midpoints for 2025 due to favorable FX trends but lowered net income outlook.
Positive Outlook
- Raised 2025 property revenue guidance midpoint by $50,000,000.
- Raised 2025 Adjusted EBITDA guidance midpoint by $30,000,000.
- Raised 2025 AFFO guidance midpoint by $20,000,000.
- AFFO per share guidance midpoint increased by $0.04.
- Strong global leasing demand supports continued growth.
Challenges Ahead
- Lowered 2025 net income midpoint by $185,000,000.
- Foreign currency volatility continues to impact earnings.
- Expected flat to negative U.S. & Canada segment growth.
- International growth partially offset by FX translation losses.
- Pressure from lower non-cash straight-line revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income