tiprankstipranks
American Tower reports Q1 adjusted FFO $2.54, consensus $2.38
The Fly

American Tower reports Q1 adjusted FFO $2.54, consensus $2.38

This morning, reported Q1 adjusted EPS 72c, consensus $1.08. Reported Q1 revenue $2.77B, consensus $2.74B. Tom Bartlett, American Tower’s CEO, stated, "We’re off to a strong start in 2023. In Q1, we saw an acceleration in Organic Tenant Billings Growth, another record quarter of signed new business at CoreSite and our 11th consecutive quarter of delivering over 1,000 built sites, all of which demonstrates resilient demand across our portfolio of distributed real estate assets as carriers continue to invest in their 4G and 5G networks. nh bn We remain focused on disciplined capital allocation, strengthening our investment grade balance sheet and maximizing returns on our top-line growth through prudent cost controls that will drive meaningful margin expansion. Together with our dividend, which we grew approximately 11% year over year in Q1, we believe this approach positions us to maximize growth and total shareholder returns for years to come."

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on AMT:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles