American Tower reports Q4 AFFO $2.32, consensus $2.31

Reports Q4 revenue $2.55B, consensus $2.5B. Steven Vondran, American Tower’s (AMT) CEO, stated, “We posted another year of solid results at American Tower, delivering AFFO per Share growth supportive of our long-term target, while demonstrating effective execution of the strategic priorities I laid out a year ago. Our initial expectations for accelerating activity over the course of the year were validated, highlighted by mid-band deployments in the U.S. and Europe, 4G densification and early 5G upgrades in emerging markets, and another exceptional year of leasing at CoreSite. The contribution to the margin from these solid demand trends was further complemented by prudent cost controls and the successful execution of our globalization initiatives, driving added efficiency to the already attractive operating leverage inherent to our business.”