Thu, Apr. 30, 8:53 AM
- American Tower (NYSE:AMT) is up 0.7% premarket after a Q1 report where funds from operations rose 17% and revenue jumped nearly 10% to crest $1B.
- EBITDA of $723.7M was up 13% and beat expectations of $693.5M.
- Revenue by segment: Domestic rental and management, $718M (up 12.9%); International rental and management, $344M (up 6.2%); Network development services, $17M.
- Net leverage ratio of about 5.3x net debt to annualized EBITDA. About $2.7B in total liquidity at quarter's end.
- The company raised full-year guidance, including impacts of its integration of towers in the Verizon transaction (which closed March 27) and a first tranche of TIM Brazil sites (which closed April 29). It raised revenue expectations by $290M to $4.555B-$4.605B (on the low side of expected $4.723B).
- Adjusted EBITDA guidance was raised $150M to $2.99B-$3.03B, just light of expected $3.022B.
- Press release
Thu, Apr. 30, 7:14 AM
Wed, Apr. 29, 5:30 PM
- AAWW, AB, ABC, ACIW, ACOR, ADP, AIT, ALKS, ALLE, AMT, ANR, APD, ARG, ARW, AVP, AWI, BCE, BDC, BG, BKCC, BLL, BWA, BZH, CAH, CCE, CDK, CELG, CI, CL, CME, COMM, COP, CRR, CRS, CSH, CTCM, CVI, CVRR, CWEI, CY, DBD, DIN, DLPH, EME, EPD, ERJ, EXLS, FCN, FIS, FMS, FSS, GEO, GG, GLOP, GNC, GNRC, GOV, GTI, GTLS, HAR, HEES, HST, HUN, I, IDA, IMAX, INCY, INGR, IRDM, ITC, ITG, IVZ, LBY, LKQ, LLL, LPLA, MD, MGLN, MINI, MLM, MMC, MOS, MPC, MPLX, MSCI, MTRN, MVIS, NBIX, NI, NOK, NTCT, NVO, NYT, OAK, ODFL, OMG, PBI, PCRX, PES, PF, POT, PSX, PSXP, PWE, PWR, RDS.A, RDWR, RGLD, RGS, ROK, RYL, SCG, SEE, SHPG, SMP, SNAK, SNE, SNMX, STM, STRZA, TASR, TDY, TEVA, TFX, THRM, TKR, TWC, TWI, UAN, UFS, UPL, VA, VAC, VGR, VIAB, VLY, VNTV, WRLD, WST, WWE, XEL, XOM, XYL, ZMH
Mon, Feb. 23, 6:28 PM
- American Tower (NYSE:AMT) is off a bit after hours, -0.9%, after posting Q4 EBITDA of $661M (up 10.2%, but which missed expectations of $669.6M).
- Overall revenue was up 11.5%. Revenue breakouts: domestic rental and management, $681M (up 9.3%); international rental and management, $349M (up 15.9%); network development services, $16M.
- Total rental and management gross margin increased to $763M (gross margin percentage of 74%). Cash from operating activities was $565M, up 24.3%.
- The company expects to close its transactions with Verizon, Telecom Italia and Bharti Airtel in 1H15, to "further enhance our strategic positioning in the U.S., Latin America and Africa."
- The company guided for full-year 2015 revenues (rental and management) of $4.25B-$4.33B vs. an expected $4.6B, and for adjusted EBITDA of $2.82B-$2.9B vs. expectations of $2.987B.
- Press release
- Previously: Verizon reaches $5B sale of towers to American Tower (Feb. 05 2015)
Mon, Feb. 23, 5:30 PM
- AIXG, ALKS, AMT, BMO, CBRL, CEQP, CLDT, CLDX, CMCSA, CMLP, COT, CRNT, CRZO, CYRN, DAKT, DCI, DPZ, DRH, DYAX, ECL, EXAS, EXLS, EXPD, FDML, GLDD, GTLS, HD, IART, IPXL, M, MNKD, NEO, ODP, PCRX, PF, PLL, RLGY, SAFM, SAH, SHLX, SHOO, SPAR, SPWR, SUI, THRM, TOL, TREX, TRXC, UTHR, VAL, VSI, WEN, WIN, WLK, WPC, ZINC
Mon, Feb. 23, 4:49 PM
Mon, Jan. 26, 7:05 PM| Comment!
Oct. 30, 2014, 1:39 PM
- Though it missed Q3 EPS estimates (while beating on revenue), American Tower (NYSE:AMT) is hiking its full-year AFFO guidance to $1.8B-$1.82B from $1.755B-$1.795B.
- Also, AMT now respectively forecasts U.S. and international organic core revenue growth of 9.5% and 16%; prior guidance was for 9%+ and "nearly 15%" growth.
- Rental/management revenue guidance has been narrowed to $3.975B-$4.005B from $3.945B-$4.015B, and net income guidance lowered to $805M-$825M from $830M-$850M.
- Q3 AFFO rose 25.2% Y/Y to $460M ($1.15/share, well above EPS of $0.50).
- U.S. rental/management revenue +25.2% to $664M (+9.1% organic); international revenue +30.3% to $348M (+17.7% organic). Network development services revenue more than doubled to $27.1M.
- Rental/management op. margin slipped to 67% from 69% a year ago. AMT ended Q3 with $13.6B in net debt, and a 5.1x net leverage ratio.
- SBA (SBAC +1.4%) and Crown Castle (CCI +0.8%) are up moderately.
- Q3 results, PR
Oct. 30, 2014, 7:04 AM
Oct. 29, 2014, 5:30 PM
- ABC, ABMD, ACIW, ACOR, ALLE, ALU, AMAG, AMT, ANR, APD, APO, ATK, AUDC, AVP, BCO, BG, BGCP, BLL, BWA, CAH, CARB, CBM, CEVA, CI, CME, CNSL, COP, COR, CRCM, CRNT, CRR, CVI, CVRR, DBD, DFT, DHX, DST, EPD, EXLS, FCH, FCN, FIG, FIS, GBX, GEL, GG, GLOP, GNC, GOV, GTI, GTLS, HAR, HEES, HGG, HST, I, IDA, IDCC, INCY, INGR, IQNT, IRDM, IRM, ITC, IVZ, JCI, K, KCG, KEM, KMT, LAD, LECO, LKQ, LLL, LPLA, LRN, MA, MD, MDC, MDXG, MGM, MMYT, MO, MOD, MOS, MPC, MPLX, MPW, MSCI, MZOR, NEO, NGD, NI, NILE, NOV, NVO, NYT, O, OAK, OCN, ODFL, OXF, PBI, PCRX, PEG, Q, RDEN, RDN, RDS.A, RFP, RGLD, RTIX, SCG, SHOO, SMP, SNAK, SPAR, SSE, STRA, STRZA, SUI, TASR, TEVA, THRM, TRI, TWC, UAN, UPL, USAC, VICL, VNTV, WLT, WST, WWE, XEL
Jul. 30, 2014, 12:51 PM
- In addition to beating Q2 estimates, American Tower (AMT +3.9%) is hiking its full-year AFFO guidance to $1.755B-$1.795B from $1.725B-$1.765B, and its full-year rental/management revenue guidance to $3.945B-$4.015B from $3.895B-$3.975B.
- At the midpoint, the revenue forecast assumes domestic revenue of $2.625B, and international revenue of $1.355B. Full-year core domestic revenue is expected to grow over 9% on an organic basis (accounts for acquisitions), and international organic core growth is expected to be near 15%.
- Full-year capex guidance has been hiked by $75M to $925M-$1.025B. Discretionary capex is expected to total $480M-$540M, and cover the buildout of 2,250-2,750 new sites.
- Organic core revenue grew 11.4% Y/Y in Q2 in the U.S., and 17.9% internationally. Gross margin fell 120 bps Y/Y to 74.1%; segment op. margin was steady at 68%.
- AMT's site portfolio grew by 1,112 Q/Q to 68,822. 642 were constructed, 508 acquired, and 38 lost due to adjustments. Strong 4G buildout activity is providing a boost to site demand.
- Q2 results, PR
Jul. 30, 2014, 7:12 AM
Jul. 29, 2014, 5:30 PM
- AB, ACCO, ADT, AMED, AMT, ATRO, AUO, BAH, BDC, BEN, CFR, CVE, D, DHX, DORM, DX, ENR, EVER, GIB, GRMN, GT, HAE, HES, HSP, HUM, HUN, IACI, ICLR, INGR, LFUS, LL, LO, LPLA, MGAM, MINI, MMYT, MRGE, MWV, NICE, NVMI, PAG, PBI, PEG, PSX, PSXP, PTRY, ROK, RRD, S, SAIA, SEE, SGNT, SMP, SO, SODA, SONS, SPB, SPW, TASR, TFX, TRI, VLO, VLY, WEC, WLP
May 1, 2014, 7:07 AM| Comment!
Apr. 30, 2014, 5:30 PM
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Feb. 25, 2014, 4:01 PM
- Thanks partly to acquisitions, American Tower (AMT -3.4%) expects its 2014 rental/management revenue of $3.82B-$3.91B, up from a 2013 level of $3.29B. AFFO is expected to grow to $1.68B-$1.74B from 2013's $1.47B, and capex is expected to be in a range of $850M-$950M.
- While total revenue rose 22.6% Y/Y in Q4, organic core revenue rose 11.2% - 8.7% domestic, 13.5% international. Total domestic revenue +24.6% Y/Y to $622.7M, total international revenue +25.6% to $301.2M.
- Op. margin was flat Y/Y at 68%. AMT ended 2013 with 67K+ sites, and expects to construct 2,250-2,750 new sites in 2014.
- The company ended the year with $14.5B in debt, and $294M in cash/equivalents.
- Q4 results, PR
AMT vs. ETF Alternatives
American Tower Corp is an owner, operator and developer of wireless and broadcast communications real estate. The Company's main business is leasing antenna space on multi-tenant communications sites to different providers.
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