American Tower Earnings: Everything You Must Know Now

American Tower Corp. (NYSE:AMT) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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American Tower Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 23.21% to $0.43 in the quarter versus EPS of $0.56 in the year-earlier quarter.

Revenue: Rose 15.24% to $802.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: American Tower Corp. reported adjusted EPS income of $0.43 per share. By that measure, the company missed the mean analyst estimate of $0.48. It beat the average revenue estimate of $791.89 million.

Quoting Management: Jim Taiclet, American Tower’s Chief Executive Officer stated, “Our strong first quarter results, enhanced network investment programs announced by wireless carriers in the U.S. and around the world, and my recent interactions with our field teams on the ground all confirm continuing robust demand for tower space. Leading the charge toward pervasive 4G services are our four major U.S. tenants, who we believe will need to substantially upgrade their existing networks to meet the capacity and elevated signal quality required to deliver services such as LTE video and voice over IP.”

Key Stats (on next page)…

Revenue increased 4.47% from $768.37 million in the previous quarter. EPS increased 26.47% from $0.34 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.52 to a profit $0.51. For the current year, the average estimate is a profit of $2.12, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)