American Tower Firing on All Cylinders

By John Celentano, Inside Towers Business Editor

We’re in the era of electric cars but if you have ever driven an American muscle car with a V8 and a 5-speed stick, you can appreciate this analogy. American Tower (NYSE: AMT) presented its 4Q21 and full-year 2021 results yesterday and clearly, the company is firing on all cylinders. The company reported double-digit increases across all its key financial metrics. Property revenues or site leasing revenues, came in at $9.1 billion, up 15 percent from $8.0 billion in 2020. The company realized solid organic tenant billings growth particularly in its Africa and Latin America markets. Service revenues garnered from customer site support activities nearly tripled to $247 million. Net income jumped 52 percent to $2.6 billion and Adjusted EBITDA grew to $6.0 billion, a 16 percent YoY increase. AFFO was up 14 percent to $4.3 billion from $3.8 billion in 2020. Continue Reading