American Tower sees FY24 AFFO $9.86-$10.03, consensus $10.49

Sees FY24 adjusted EBITDA $6.77B-$6.85B. The company said, “The Company is raising the midpoints of its full year 2024 outlook for total property revenue and Adjusted EBITDA by $15 million and $5 million, respectively. The Company is reducing the midpoints of its full year 2024 outlook for Net Income and Net income attributable to AMT common stockholders by $1,238 million and $1,253 million, respectively, primarily due to a recorded loss on the sale of ATC TIPL of $1.2 billion, which primarily included the reclassification of the Company’s cumulative translation adjustment in India upon exiting the market of $1.1 billion. The Company is reducing the midpoints of its full year 2024 outlook for AFFO attributable to AMT common stockholders and AFFO attributable to AMT common stockholders per Share by $30 million and $0.07, respectively, due to the closing timing for the sale of ATC India, which was not assumed in the prior outlook. Excluding the impacts associated with the updated closing timing, the Company is raising its AFFO attributable to AMT common stockholders and AFFO attributable to AMT common stockholders per Share midpoints by $25 million and $0.05, respectively.”