American Tower Q4 2024 Earnings Report
Key Takeaways
American Tower Corporation (AMT) posted Q4 2024 revenue of $2.55 billion, reflecting a 3.7% year-over-year increase. Net income soared to $1.23 billion, up 9,151.9% due to favorable operational and financial adjustments. Adjusted EBITDA grew 5.1% to $1.69 billion, and AFFO per share increased to $2.32. The company saw strong growth in organic tenant billings, particularly in emerging markets.
Total revenue grew 3.7% year-over-year to $2.55 billion.
Net income rose significantly to $1.23 billion, mainly due to financial adjustments.
Adjusted EBITDA increased 5.1% to $1.69 billion, with a 66.4% margin.
Organic tenant billings grew 5.0%, with strong performance in emerging markets.
American Tower Revenue
American Tower EPS
American Tower Revenue by Segment
American Tower Revenue by Geographic Location
Forward Guidance
American Tower expects continued revenue growth in 2025, with strength in tenant billings and data center expansion.
Positive Outlook
- Projected total revenue between $9.92 billion and $10.07 billion.
- Net income expected to grow 30.5% to a range of $2.93 billion to $3.02 billion.
- U.S. & Canada organic tenant billings projected to grow by at least 4.3%.
- Data center revenue expected to grow by 11.9%.
- AFFO per share estimated between $10.31 and $10.50.
Challenges Ahead
- Foreign currency exchange fluctuations expected to negatively impact revenue by approximately $229 million.
- Interest expense projected between $1.37 billion and $1.35 billion.
- Straight-line revenue expected to decline by approximately $62 million.
- Higher anticipated capital expenditures in discretionary projects, estimated between $880 million and $910 million.
- Potential pricing pressure in international markets affecting tenant billings growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income