NYSE$AMT
American Tower Corp · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
American Tower reported strong Q4 2021 results, driven by double-digit AFFO per Share growth and strategic acquisitions.
American Tower Corporation reported a 15.2% increase in total revenue, reaching $2,445 million. Net income increased by 22.0% to $441 million, and Consolidated AFFO increased by 6.5% to $996 million. The company closed key acquisitions and expects solid growth in 2022.
- Total revenue increased by 15.2% to $2,445 million.
- Net income increased by 22.0% to $441 million.
- Consolidated AFFO increased by 6.5% to $996 million.
- The company spent approximately $0.4 billion to acquire two data centers as part of the DataSite, Inc. acquisition, along with nearly 700 communications sites, primarily in international markets.
Headline financials
Revenue & EPS history
American Tower · Revenue · Quarterly
$2.45B
Revenue by segment
American Tower · $2.14B total across 6 segments · Q4 2021
- U.S. & Canada Property$1.23B+1.2%57.6%
- Latin America Property$372M+14.1%17.4%
- Africa & APAC Property$264M+10.5%12.3%
- Europe Property$188M+347.6%8.8%
- Services$67M+191.3%3.1%
- Data Centers$16M—0.7%
Forward guidance
American Tower provided its full year 2022 outlook, estimating total property revenue between $10,220 million and $10,400 million, net income between $2,020 million and $2,130 million, Adjusted EBITDA between $6,500 million and $6,610 million, and Consolidated AFFO between $4,700 million and $4,810 million.
Tailwinds
- Total property revenue is expected to be between $10,220 million and $10,400 million.
- Net income is projected to be between $2,020 million and $2,130 million.
- Adjusted EBITDA is anticipated to be between $6,500 million and $6,610 million.
- Consolidated AFFO is forecasted to be between $4,700 million and $4,810 million.
- Discretionary capital projects are planned between $820 million and $850 million.
Headwinds
- Net income and net income attributable to AMT common stockholders are negatively impacted by the foreign currency gain of $558 million in 2021.
- The U.S. & Canada growth rate includes an estimated negative impact of nearly 1% due to a decrease in non-cash straight-line revenue recognition.
- The international growth rate includes an estimated negative impact of approximately 3% from foreign currency exchange rate fluctuations.
- The outlook reflects estimated unfavorable impacts of foreign currency exchange rate fluctuations to property revenue, Adjusted EBITDA and Consolidated AFFO of approximately $125 million, $70 million and $55 million, respectively, relative to the Company’s 2021 results.
- Rising inflation may adversely affect the company by increasing costs beyond what can be recovered through price increases.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
+0.2%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+1.9%
Avg return
30 days after
51%
37 / 73 earnings
Positive
+6.2%
Q3 2023
Best reaction
-6.9%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.8% | +3.6% | +5.3% | |
| Q4 2025 | +0.7% | +1.0% | -11.1% | |
| Q3 2025 | -3.7% | -5.7% | -4.5% | |
| Q2 2025 | -4.2% | -5.4% | -9.7% | |
| Q1 2025 | +4.7% | +5.8% | +1.1% | |
| Q4 2024 | +6.1% | +7.1% | +11.5% | |
| Q3 2024 | -3.9% | -4.9% | -5.8% | |
| Q2 2024 | +2.5% | +9.2% | +4.0% | |
| Q1 2024 | +1.1% | +3.9% | +9.0% | |
| Q4 2023 | +3.2% | +7.5% | +5.3% | |
| Q3 2023 | +6.2% | +10.0% | +23.1% | |
| Q2 2023 | -0.5% | +0.7% | -6.6% | |
| Q1 2023 | +1.9% | -1.1% | -9.7% | |
| Q4 2022 | -1.8% | -0.6% | +0.2% | |
| Q3 2022 | +4.0% | +5.6% | +11.8% | |
| Q2 2022 | +4.9% | +3.2% | +1.1% | |
| Q1 2022 | -1.0% | -7.0% | +2.4% | |
| Q4 2021 | +2.7% | +0.5% | +5.8% | |
| Q3 2021 | -1.2% | -1.0% | -7.9% | |
| Q2 2021 | -0.8% | -0.2% | +0.2% | |
| Q1 2021 | +1.1% | -1.2% | +1.4% | |
| Q4 2020 | -3.8% | -7.1% | +6.2% | |
| Q3 2020 | -0.2% | +1.8% | +1.7% | |
| Q2 2020 | -3.6% | -4.1% | -8.0% | |
| Q1 2020 | -2.3% | -2.8% | +6.0% | |
| Q4 2019 | -1.0% | -7.5% | -9.3% | |
| Q3 2019 | -0.8% | -5.2% | -1.5% | |
| Q2 2019 | +1.3% | +2.5% | +10.3% | |
| Q1 2019 | -0.3% | -0.6% | +8.3% | |
| Q4 2018 | +1.2% | +3.3% | +13.2% | |
| Q3 2018 | +2.0% | -0.5% | +6.5% | |
| Q2 2018 | +5.2% | +5.8% | +4.4% | |
| Q1 2018 | +0.1% | +1.8% | +1.5% | |
| Q4 2017 | -2.4% | -6.1% | +1.8% | |
| Q3 2017 | -1.4% | -0.5% | +0.7% | |
| Q2 2017 | +0.3% | -1.4% | +4.6% | |
| Q1 2017 | +2.5% | +4.2% | +6.8% | |
| Q4 2016 | +1.7% | +2.5% | +7.2% | |
| Q3 2016 | +0.4% | -0.4% | -7.2% | |
| Q2 2016 | -1.6% | -0.7% | -3.7% | |
| Q1 2016 | +1.3% | — | — | |
| Q4 2015 | +3.1% | — | — | |
| Q3 2015 | +1.3% | — | — | |
| Q2 2015 | -1.8% | — | — | |
| Q1 2015 | -0.0% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | +2.6% | — | — | |
| Q2 2014 | +2.2% | — | — | |
| Q1 2014 | +4.2% | — | — | |
| Q4 2013 | -2.6% | — | — | |
| Q3 2013 | -1.2% | — | — | |
| Q2 2013 | -1.9% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | +5.1% | — | — | |
| Q3 2012 | +1.6% | — | — | |
| Q2 2012 | -0.2% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | +1.2% | — | — | |
| Q3 2011 | +0.9% | — | — | |
| Q2 2011 | -6.9% | — | — | |
| Q1 2011 | +1.1% | — | — | |
| Q4 2007 | -1.9% | — | — | |
| Q4 2010 | -1.9% | — | — | |
| Q3 2010 | -0.1% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q1 2009 | -4.9% | — | — | |
| Q1 2010 | -0.2% | — | — | |
| Q4 2009 | +0.3% | — | — | |
| Q3 2008 | +1.1% | — | — | |
| Q3 2009 | +1.1% | — | — | |
| Q2 2008 | -3.7% | — | — | |
| Q4 2008 | -3.7% | — | — | |
| Q2 2009 | -3.7% | — | — |
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