Wednesday, February 28, 2018
American Tower Beats Build Projection By Fifty Percent
American Tower Corporation executives are pleased with the towerco’s financial performance in 2017. Company Chairman, President and CEO Jim Taiclet told brokers and Wall Street analysts on Tuesday’s earnings call: “We far exceeded our goals” for the 10-year plan. One metric — the company ended 2017 with 150,000 sites for towers and small cell systems; the goal was 100,000.
Officials estimate aggregate capex for mobile carriers to be in the $30 billion range in 2018. That bodes well for strong tenant lease growth this year for AMT, according to the executive. (See financial figures here.)
AMT is launching the next 10-year plan to “deliver operational efficiency to expand” profit margins, he said. The company’s core profit-maker remains its “extensive mobile tower footprint.” Taiclet said AMT would continue to build and acquire additional tower assets that meet its investment criteria.