Compared to Estimates, American Tower (AMT) Q3 Earnings: A Look at Key Metrics

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]