American Tower Reports Q1 Earnings: The Details

American Tower Corp (NYSE:AMT) reported first-quarter financial results before the market open on Tuesday. Here’s a rundown of the report.

Q1 Earnings: American Tower reported first-quarter revenue of $2.56 billion, beating analyst estimates of $2.54 billion, according to estimates from Benzinga Pro. The company also reported adjusted funds from operations (AFFO) of $2.75 per share, beating estimates of $2.58 per share.

Total revenue was up 2% year-over-year, while property revenue increased 0.2%. At quarter’s end, the company had approximately $11.7 billion of total liquidity, consisting of approximately $2.1 billion in cash and cash equivalents.

“Together with the resilient demand we’re seeing for our portfolio of assets, we remain focused on enhancing the quality of our earnings through active portfolio management, organizational and operational efficiency, disciplined capital allocation and a strong balance sheet, positioning us to better navigate ongoing macroeconomic uncertainty while continuing to meet our customers’ critical connectivity needs,” said Steven Vondran, CEO of American Tower.

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Outlook: American Tower expects total property revenue in 2025 to be between $9.97 billion and $10.12 billion. The company also raised its full-year AFFO guidance from a range of $10.31 to $10.50 to a new range of $10.35 to $10.54 per share, versus estimates of $10.39 per share.

AMT Price Action: American Tower shares were up 0.57% at $212.50 at the time of publication Tuesday, according to Benzinga Pro.

Photo: katjen/Shutterstock.