American Tower (NYSE: AMT) reported solid results for full-year 2022, to set the stage for continued growth for the next several years. Property revenues grew nearly 15 percent to $10.5 billion including organic tenant billings growth of 7 percent. AMT’s leasing demand is being driven by growth across its tower and data center portfolios. This growth is partially offset by a reserve taken against slow payments from Indian mobile network operator, Vodafone Idea, which is working through a difficult financial situation. Adjusted EBITDA was up 11 percent to $6.6 billion and AFFO came in at $4.5 billion, up almost 6 percent year-to-year.
AMT’s global tower count grew 2 percent YoY to 223,055 at year-end 2022. India is the company’s largest market accounting for 35 percent of the total. Africa and Latin America make up another one-third. Its home U.S. & Canada market accounts for 19 percent of the total sites but drives 48 percent of total property revenues. Continue Reading