American Tower Trims FY22 Property Revenue Outlook - Update

(RTTNews) - While reporting its financial results for the second quarter on Thursday, American Tower (AMT) trimmed its property revenue for the full-year 2022.

For fiscal 2021, the company now projects total property revenue in a range of $10.28 billion to $10.46 billion, net income in a range of $2.555 billion to $2.665 billion, adjusted EBITDA in a range of $6.535 billion to $6.645 billion, and consolidated AFFO in a range of $9.62 to $9.86 per share.

Previously, the company expected total property revenue in a range of $10.295 billion to $10.475 billion, net income in a range of $2.02 billion to $2.13 billion and adjusted EBITDA in a range of $6.555 billion to $6.665 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.48 per share on revenues of $10.64 billion for the year. Analysts' estimates typically exclude special items.

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