https://assets.capyfin.com/instruments/678fdc13234e27009c5d5950.png avatar
American Tower
🇺🇸 NYSE:AMT
View Company
OverviewEarningsDividends
•
Jun 30, 2024

American Tower Q2 2024 Earnings Report

American Tower's financial performance demonstrated growth, driven by strong demand for communication assets and strategic capital allocation.

Key Takeaways

American Tower Corporation reported a 4.6% increase in total revenue, reaching $2,900 million. Net income saw a significant increase of 96.8% to $908 million. The company's performance was bolstered by positive collection trends in India and strong organic tenant billings growth in the U.S. & Canada segment.

Total revenue increased by 4.6% to $2,900 million.

Net income increased significantly by 96.8% to $908 million.

Adjusted EBITDA increased by 8.1% to $1,890 million.

AFFO attributable to AMT common stockholders increased by 13.5% to $1,306 million.

Total Revenue
$2.9B
Previous year: $2.77B
+4.6%
EPS
$2.79
Previous year: $2.46
+13.4%
US/Canada Organic TB Growth
5.1%
Previous year: 5.1%
+0.0%
Europe Organic TB Growth
5.7%
Previous year: 8.3%
-31.3%
Africa Organic TB Growth
13.2%
Previous year: 12.9%
+2.3%
Gross Profit
$2.05B
Previous year: $1.94B
+5.6%
Cash and Equivalents
$2.49B
Previous year: $2.02B
+23.6%
Free Cash Flow
$1.01B
Previous year: $789M
+28.2%
Total Assets
$65.8B
Previous year: $66.9B
-1.6%

American Tower

American Tower

American Tower Revenue by Segment

American Tower Revenue by Geographic Location

Forward Guidance

American Tower is raising the midpoints of its full year 2024 outlook for property revenue, net income, net income attributable to AMT common stockholders, Adjusted EBITDA, AFFO attributable to AMT common stockholders and AFFO attributable to AMT common stockholders per Share.

Positive Outlook

  • Property revenue midpoint raised.
  • Net income midpoint raised.
  • Adjusted EBITDA midpoint raised.
  • AFFO attributable to AMT common stockholders midpoint raised.
  • AFFO attributable to AMT common stockholders per Share midpoint raised.

Challenges Ahead

  • Outlook reflects estimated negative impacts of foreign currency exchange rate fluctuations to property revenue.
  • Outlook reflects estimated negative impacts of foreign currency exchange rate fluctuations to Adjusted EBITDA.
  • Outlook reflects estimated negative impacts of foreign currency exchange rate fluctuations to AFFO attributable to AMT common stockholders.
  • The U.S. & Canada growth rate includes an estimated negative impact of over 3% associated with a decrease in non-cash straight-line revenue recognition.
  • The international growth rate includes an estimated negative impact of over 4% from the translational effects of foreign currency exchange rate fluctuations.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View American Tower