American Tower (AMT) Tops Q1 EPS by 3c, Beats on Revenue; Raises FY Guidance

American Tower (NYSE: AMT) reported Q1 EPS of $0.67, $0.03 better than the analyst estimate of $0.64. Revenue for the quarter came in at $1.62 billion versus the consensus estimate of $1.58 billion.

First Quarter 2017

• Total revenue increased 25.4% to $1,616 million
• Property revenue increased 25.7% to $1,594 million
• Net income increased 9.3% to $307 million
• Adjusted EBITDA increased 19.8% to $998 million
• Consolidated AFFO increased 19.7% to $721 million

GUIDANCE:

American Tower sees FY2017 revenue of $6.415-6.595 billion, versus the consensus of $6.5 billion.

FULL YEAR 2017 OUTLOOK

The Company is raising the midpoint of its full year 2017 outlook for property revenue, net income, Adjusted EBITDA and Consolidated AFFO by $105 million, $30 million, $70 million and $55 million, respectively, as compared to the Company’s 2017 outlook, as updated on March 21, 2017.

Based on these assumptions, the Company’s outlook reflects estimated favorable impacts from foreign currency exchange rate fluctuations to property revenue, Adjusted EBITDA and Consolidated AFFO, of approximately $73 million, $42 million and $31 million, respectively, as compared to the Company’s 2017 outlook, as updated on March 21, 2017. The impact of foreign currency rate fluctuations on net income is not provided, as the impact on all components of the net income measure cannot be calculated without unreasonable effort.

Additional information pertaining to the impact of foreign currency and London Interbank Offered Rate (LIBOR) fluctuations on the Company’s outlook has been provided in the supplemental disclosure package available on its website.

For earnings history and earnings-related data on American Tower (AMT) click here.

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• After-Hours Stock Movers: FDX, CBRS, NKE