American Tower Beats On Q2 Earnings; Cuts FY22 Property Revenue Growth Outlook Marginally

American Tower Beats On Q2 Earnings; Cuts FY22 Property Revenue Growth Outlook Marginally
  • American Tower Corp (NYSE: AMT) reported second-quarter FY22 revenue growth of 16.3% year-on-year to $2.67 billion, beating the consensus of $2.64 billion.
  • Property revenue increased 17.1% Y/Y to $2.62 billion.
  • Tenant Billings grew 7.8%, and Organic Tenant Billings increased 2.6%.
  • AFFO per share attributable was $2.51, up 5% Y/Y.
  • The company generated $915 million in operating cash flow. It held $2.1 billion in cash and equivalents.
  • Outlook: American Tower cut the FY22 property revenue outlook from $10.295 billion - $10.475 billion to $10.28 billion - $10.46 billion.
  • Price Action: AMT shares closed lower by 0.28% at $258.26 on Wednesday.

Posted In: BriefsEarningsNewsGuidance