American Tower (AMT) Tops Q4 EPS by 24c

American Tower (NYSE: AMT) reported Q4 EPS of $1.26, $0.24 better than the analyst estimate of $1.02. Revenue for the quarter came in at $1.92 billion versus the consensus estimate of $1.93 billion.

Fourth Quarter 2019

• Total revenue decreased 9.8% to $1,924 million
• Property revenue decreased 9.3% to $1,908 million
• Net income increased 94.5% to $569 million
• Adjusted EBITDA decreased 14.6% to $1,217 million
• Consolidated AFFO decreased 19.5% to $859 million

Jim Taiclet, American Tower’s Chief Executive Officer, stated, “American Tower delivered another year of strong performance in 2019, including Organic Tenant Billings Growth of more than 7% in the U.S. We also added nearly 14,000 communications sites to our portfolio via high quality acquisitions in the U.S., Latin America, and Africa and the most substantial build-to-suit construction program in the Company’s history. Moreover, we again increased our dividend by 20% and simultaneously strengthened our investment-grade balance sheet with a number of refinancing transactions that reduced our cost of debt and extended maturities.

In 2020, we expect to make sustained progress in each of the key elements of our Stand and Deliver strategy to advance the Company’s vision of making wireless communication possible everywhere. By pursuing a broader leadership role in the industry, innovating for a 5G future, driving efficiency both internally and for our tenants, and thoughtfully growing our asset base, we are confident in our ability to continue to deliver strong cash flow growth while expanding return on invested capital going forward.”

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

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