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Dec 31, 2019
American Tower Q4 2019 Earnings Report
American Tower reported a decrease in total revenue and an increase in net income for Q4 2019.
Key Takeaways
American Tower Corporation reported a decrease in total revenue by 9.8% to $1,924 million, while net income increased by 94.5% to $569 million for the fourth quarter of 2019. The results were impacted by the nonrecurrence of the Tata settlement.
Total revenue decreased 9.8% to $1,924 million.
Property revenue decreased 9.3% to $1,908 million.
Net income increased 94.5% to $569 million.
Adjusted EBITDA decreased 14.6% to $1,217 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.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
American Tower provided full year 2020 outlook, expecting total property revenue between $7,975 million and $8,125 million, net income between $1,950 million and $2,050 million, Adjusted EBITDA between $5,085 million and $5,185 million, and Consolidated AFFO between $3,740 million and $3,840 million.
Positive Outlook
- Total property revenue is expected to grow by 7.8%.
- Net income is projected to increase by 4.4%.
- Adjusted EBITDA is anticipated to rise by 8.2%.
- Consolidated AFFO is forecasted to grow by 7.6%.
- U.S. property revenue is expected to be between $4,385 million and $4,445 million.
Challenges Ahead
- Foreign currency exchange rate fluctuations are expected to unfavorably impact property revenue by approximately $85 million.
- Foreign currency exchange rate fluctuations are expected to unfavorably impact Adjusted EBITDA by approximately $44 million.
- Foreign currency exchange rate fluctuations are expected to unfavorably impact Consolidated AFFO by approximately $41 million.
- The churn rate is expected to remain elevated in the immediate term due to uncertainty created by the recent court ruling by the Indian Supreme Court.
- International property revenue reflects the Company’s Latin America, Africa, Europe and Asia segments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income