American Tower Q3 2020 Earnings Report
Key Takeaways
American Tower Corporation reported a 3.0% increase in total revenue to $2,013 million and a 14.7% increase in Consolidated AFFO to $1,022 million for the third quarter of 2020. The company saw strong demand across its global portfolio as tenants deployed new technology and densified their networks.
Total revenue increased 3.0% to $2,013 million.
Property revenue increased 3.4% to $1,988 million.
Net income decreased 8.4% to $463 million.
Consolidated AFFO increased 14.7% to $1,022 million.
American Tower
American Tower
American Tower Revenue by Segment
American Tower Revenue by Geographic Location
Forward Guidance
The company is raising the midpoint of its full year 2020 outlook for property revenue, net income, Adjusted EBITDA and Consolidated AFFO by $165 million, $90 million, $170 million and $75 million, respectively. These revised expectations include approximately $105 million in straight-line revenue attributable to the Company’s new MLA with T-Mobile.
Positive Outlook
- Total property revenue(1) $7,855 to $7,915
- Net income 1,855 to 1,905
- Adjusted EBITDA 5,075 to 5,125
- Consolidated AFFO 3,720 to 3,770
Revenue & Expenses
Visualization of income flow from segment revenue to net income