Thursday, April 29, 2021

American Tower sales rise 8.3% year-over-year

American Tower reported total Q1 2021 revenue of $2,159 million, up 8.3% compared to the same period last year. Net income amounted to $652 million, up 56% compared to last year.

Tom Bartlett, American Tower’s Chief Executive Officer, stated, “We began 2021 by entering into the Telxius Towers transaction, which we expect to be transformational for our European business. Our global teams followed that by delivering a strong quarter, highlighted by elevated demand for our sites, the construction of nearly 2,000 new towers and highly attractive growth in consolidated AFFO per Share."

"Looking forward, in the U.S., we expect that the gathering 5G momentum will enable us to leverage our extensive site portfolio and mutually beneficial relationships with key tenants to drive sustainable, predictable, recurring long-term growth in cash flows. Internationally, large multinational c'arriers are aggressively investing in their wireless networks to keep pace with rapidly growing mobile data usage as smartphone penetration accelerates and network technologies advance. 

Some additional highlights for Q1

  • total capital expenditures were approximately $335 million, of which $19 million was for non-discretionary capital improvements and corporate capital expenditures.
  • the company spent approximately $115 million to acquire 116 communications sites, including 48 sites in the U.S. and 68 sites in Latin America.