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Dec 31, 2021
American Tower Q4 2021 Earnings Report
American Tower reported strong Q4 2021 results, driven by double-digit AFFO per Share growth and strategic acquisitions.
Key Takeaways
American Tower Corporation reported a 15.2% increase in total revenue, reaching $2,445 million. Net income increased by 22.0% to $441 million, and Consolidated AFFO increased by 6.5% to $996 million. The company closed key acquisitions and expects solid growth in 2022.
Total revenue increased by 15.2% to $2,445 million.
Net income increased by 22.0% to $441 million.
Consolidated AFFO increased by 6.5% to $996 million.
The company spent approximately $0.4 billion to acquire two data centers as part of the DataSite, Inc. acquisition, along with nearly 700 communications sites, primarily in international markets.
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 its full year 2022 outlook, estimating total property revenue between $10,220 million and $10,400 million, net income between $2,020 million and $2,130 million, Adjusted EBITDA between $6,500 million and $6,610 million, and Consolidated AFFO between $4,700 million and $4,810 million.
Positive Outlook
- Total property revenue is expected to be between $10,220 million and $10,400 million.
- Net income is projected to be between $2,020 million and $2,130 million.
- Adjusted EBITDA is anticipated to be between $6,500 million and $6,610 million.
- Consolidated AFFO is forecasted to be between $4,700 million and $4,810 million.
- Discretionary capital projects are planned between $820 million and $850 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.
- The U.S. & Canada growth rate includes an estimated negative impact of nearly 1% due to a decrease in non-cash straight-line revenue recognition.
- The international growth rate includes an estimated negative impact of approximately 3% from foreign currency exchange rate fluctuations.
- The outlook reflects estimated unfavorable impacts of foreign currency exchange rate fluctuations to property revenue, Adjusted EBITDA and Consolidated AFFO of approximately $125 million, $70 million and $55 million, respectively, relative to the Company’s 2021 results.
- Rising inflation may adversely affect the company by increasing costs beyond what can be recovered through price increases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income