Core Insights - American Tower (AMT) reported a revenue of $2.52 billion for Q3 2024, reflecting a year-over-year decline of 10.5% and falling short of the Zacks Consensus Estimate of $2.76 billion by 8.78% [1] - The company achieved an EPS of $2.64, which is an increase from $1.26 a year ago, resulting in an EPS surprise of 3.94% against the consensus estimate of $2.54 [1] Financial Performance Metrics - U.S. & Canada Ending Balance: 41,928 compared to the estimated 42,064 [3] - Total Ending Balance: 147,299 versus the estimated 172,777 [3] - Organic Tenant Billings Growth - Total International: 5.7%, exceeding the estimate of 4.5% [3] - Organic Tenant Billings Growth - U.S. & Canada: 5%, above the estimate of 4.7% [3] - Geographic Revenues - Total International: $918 million, significantly lower than the estimated $1.16 billion, representing a year-over-year decline of 26.9% [3] - Geographic Revenues - U.S. & Canada: $1.32 billion, matching the estimate, with a year-over-year change of -0.5% [3] - Geographic Revenues - Asia-Pacific: $6 million, far below the estimate of $239.65 million, indicating a year-over-year decline of 98% [3] - Geographic Revenues - Europe: $213 million, slightly above the estimate of $202.13 million, with a year-over-year increase of 6.5% [3] - Geographic Revenues - Latin America: $403 million, below the estimate of $426.01 million, reflecting a year-over-year decline of 12.4% [3] - Total Operating Revenues - Data Centers: $234 million, slightly above the estimate of $231.88 million, with a year-over-year increase of 10.4% [3] - Total Operating Revenues - Services: $52 million, below the estimate of $55.32 million, but showing a year-over-year increase of 100% [3] - Total Operating Revenues - Total Property: $2.47 billion, below the estimate of $2.71 billion, representing a year-over-year decline of 11.5% [3] Stock Performance - American Tower's shares have returned -4.5% over the past month, contrasting with the Zacks S&P 500 composite's increase of 1.7% [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

American Tower (AMT) came out with quarterly funds from operations (FFO) of $2.64 per share, beating the Zacks Consensus Estimate of $2.54 per share. This compares to FFO of $2.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 3.94%. A quarter ago, it was expected that this wireless communications infrastructure company would post FFO of $2.53 per share when it actually produced FFO of $2.79, delivering a surprise of 10.28%.Over t ...

Financial Performance - Total revenue for Q3 2024 was $2,522 million, reflecting a growth of less than 0.1% compared to the previous year[3]. - The net loss for Q3 2024 was $(780) million, a decrease of 235.2% compared to the previous year, with a net loss attributable to AMT common stockholders of $(792) million[3][4]. - Adjusted EBITDA for the quarter was $1,687 million, down 0.9%, with an adjusted EBITDA margin of 66.9%[4]. - Total operating revenues for Q3 2024 were $2,522.3 million, slightly up from $2,521.1 million in Q3 2023[31]. - Operating income increased to $1,139.2 million in Q3 2024, compared to $913.0 million in Q3 2023, reflecting a growth of 24.8%[31]. - Net income from continuing operations for Q3 2024 was $428.1 million, down from $774.8 million in Q3 2023, indicating a decline of 44.7%[31]. - The company reported a net loss attributable to common stockholders of $792.3 million for Q3 2024, compared to a net income of $586.9 million in Q3 2023[31]. - The company reported a net loss of $780.4 million for the three months ended September 30, 2023, compared to a net income of $577.3 million in the prior year[39]. Revenue and Growth Projections - Total property revenue decreased by 1.0% to $2,470 million, while total tenant billings growth was $106 million, representing a growth of 5.9%[4]. - The midpoint of the full year 2024 outlook for total property revenue and Adjusted EBITDA has been raised by $15 million and $5 million, respectively[10]. - Total property revenue for 2024 is projected to be between $9,890 million and $9,980 million, reflecting a growth rate of approximately 0.7% compared to the prior year[12]. - Net income is expected to range from $1,992 million to $2,072 million, representing a significant increase of 48.6% year-over-year[12]. - Adjusted EBITDA is forecasted to be between $6,770 million and $6,850 million, indicating a growth of 1.8% from the previous year[12]. - Total tenant billings growth is projected at approximately 6% for 2024, with organic tenant billings growth expected to be around 4.7%[15]. - The company reported a revenue growth of (4.2)% in the U.S. and a significant increase of 18.8% in Asia Pacific[35]. Cash Flow and Distributions - The company declared cash distributions of $1.62 per share, totaling $757 million for Q3 2024[7]. - Cash provided by operating activities increased to $4,091.5 million from $3,580.5 million year-over-year[33]. - Cash used for financing activities was $4,543.9 million, compared to $2,281.5 million in the previous year[33]. - The net increase in cash and cash equivalents was $188.8 million, up from $90.9 million in the prior year[33]. - The company’s cash and cash equivalents increased to $2,150.3 million as of September 30, 2024, from $1,753.7 million at the end of 2023, a growth of 22.6%[29]. Capital Expenditures and Financial Health - Total capital expenditures for the quarter were approximately $433 million, including $43 million for non-discretionary improvements[7]. - Capital expenditures for 2024 are estimated to be between $1,500 million and $1,610 million, including discretionary capital projects and redevelopment[16]. - The net leverage ratio as of September 30, 2024, was 5.2x, with total debt at $37,098 million and net debt at $34,948 million[8]. - The Net Leverage Ratio, calculated as net debt divided by annualized Adjusted EBITDA, is critical for understanding the Company's financial health[25]. Tenant Billings and Revenue Components - The Company reported significant revenue components including Tenant Billings, New Site Tenant Billings, and Organic Tenant Billings, which provide insights into the underlying demand for its real estate portfolio[22]. - Tenant Billings primarily come from long-term leases, with key aspects including colocations/amendments, escalations, cancellations, and new sites impacting revenue[22]. - New Site Tenant Billings reflect day-one revenue from sites built or acquired since the prior-year period, enhancing analysis of portfolio growth[22]. - Organic Tenant Billings represent revenue from sites owned since the beginning of the prior-year period, indicating the ability to add tenancy and revenue[24]. Foreign Currency Impact - The company expects a negative impact of approximately $25 million on total property revenue due to foreign currency fluctuations in its 2024 outlook[10]. - The Company highlighted the impact of foreign currency exchange on revenue, as fluctuations can distort performance metrics[23]. - The company experienced a foreign currency exchange impact of $8 million on total tenant billings for the current period[37]. - The company experienced foreign currency exchange rate fluctuations resulting in losses of $337.4 million for the three months ended September 30, 2024, compared to gains of $239.0 million in the same period in 2023[41]. Risks and Forward-Looking Statements - The Company anticipates potential risks affecting future performance, including leasing demand, customer creditworthiness, and competition[27]. - Forward-looking statements indicate expectations for full year 2024 outlook and strategic partnerships, with actual results subject to various risks[27].

American Tower Corporation (AMT) is scheduled to release third-quarter 2024 results on Oct. 29, before the opening bell. The quarterly results are expected to reflect a year-over-year decline in revenues and funds from operations (FFO) per share. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. In the last quarter, American Tower reported an adjusted FFO per share of $2.79, which beat the consensus mark by 10.3%. The quarterly results reflected better-than-anticipated revenues, aide ...

Group 1 - The article expresses the author's unique insights and knowledge in stock analysis, aiming to provide contrasting views on their portfolio [1] - The author emphasizes the importance of conducting personal in-depth research and due diligence before making investment decisions [2] - The article clarifies that the author has no current or planned positions in any mentioned companies, ensuring transparency [1] Group 2 - The analysis is intended solely for informational purposes and should not be considered professional investment advice [2] - It highlights that past performance is not indicative of future results, cautioning investors about the inherent risks in trading [2] - The article notes that the views expressed may not reflect those of the platform as a whole, indicating a diversity of opinions among analysts [2]

In its upcoming report, American Tower (AMT) is predicted by Wall Street analysts to post quarterly earnings of $2.54 per share, reflecting a decline of 1.6% compared to the same period last year. Revenues are forecasted to be $2.76 billion, representing a year-over-year decrease of 1.9%.The consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates duri ...

These five REITs ranked as the top performers over the past two decades.Real estate investment trusts (REITs) can be very enriching investments, especially over the long term. REITs have historically outperformed stocks over periods of more than 20 years. A big driver of those above-average returns is their growing dividends. Several REITs stand out for enriching returns over the past two decades: To look at those returns through a different lens, these REITs have grown a $10,000 investment made 20 years a ...

American Tower (NYSE: AMT ) is a $100 billion real estate investment trust that owns wireless and broadcast communication infrastructure. We recommended against investing in the company when we last discussed it almost 3 years ago , and since then, it hasThe Value Portfolio specializes in building retirement portfolios and utilizes a fact-based research strategy to identify investments. This includes extensive readings of 10Ks, analyst commentary, market reports, and investor presentations. He invests real ...

Shares of American Tower (AMT)  have rallied 28.7% over the past six months, outperforming the industry's 21.7% growth.In September, AMT concluded the sale of all equity interests in American Tower Company (“ATC”) India to Data Infrastructure Trust (“DIT”) sponsored by an affiliate of Brookfield Asset Management. It is expected that the sale proceeds will be utilized toward the repayment of American Tower's existing indebtedness, including the repayment of the existing term loan in India at the time of clos ...

LEXINGTON, Mass. and AMSTERDAM, Oct. 15, 2024 (GLOBE NEWSWIRE) -- uniQure N.V. (NASDAQ: QURE), a leading gene therapy company advancing transformative therapies for patients with severe medical needs, today announced that the first patient has been dosed in the Phase I/II clinical trial of AMT-162 for the treatment of amyotrophic lateral sclerosis (ALS) caused by mutations in superoxide dismutase 1 (SOD1), a rare, inherited and progressive motor neuron disease. EPISOD1 is a Phase I/II multi-center, open-lab ...