American Tower Q3 revenue up 5.5%; raises full-year outlook despite $322M India impairment

AMERICAN TOWER CORP /MA/

2023-Q3 EPS reported $2.99 revenue$8,357,500,000

Total revenue $2,819M (+5.5%); property revenue $2,792M (+7.0%).
Net income $577M (-29.6%) due to $322M India goodwill impairment and foreign currency gains.
Adjusted EBITDA $1,814M (+10.4%); AFFO per share $2.58 (+9.3%).
Company raises full-year 2023 outlook for property revenue, Adj. EBITDA, and AFFO.
Free cash flow $892M (+90.5%) with cash from ops up 39.5% and capex down 12%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMERICAN TOWER CORP /MA/ reported the quarter ended September 30, 2023 results: revenue $2,819 million, net income $577 million, EPS $1.26. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $2,819 million
Net income: $577 million
EPS: $1.26
Guidance: raised
Result: reported results

Exact text from the filing

Telephone: (617) 375-7500 AMERICAN TOWER CORPORATION REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS CONSOLIDATED HIGHLIGHTS Third Quarter 2023 ● Total revenue increased 5.5% to $2,819 million ● Property revenue increased 7.0% to $2,792 million ● Net income decreased 29.6% to $577 million (1)(2) ● Adjusted EBITDA increased 10.4% to $1,814 million ● Net income

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Source: SEC EDGAR

accession 0001053507-23-000158

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