Strong 2024 Performance
American Tower reported a strong close to 2024 with property revenue growth of nearly 1% and 3% on an FX-neutral basis. Adjusted EBITDA growth was approximately 2% and over 4% on an FX-neutral basis.
Data Center Business Success
CoreSite data center business delivered a tremendous quarter with fourth-quarter revenue growth of nearly 10%, reinforcing demand and pricing durability for interconnection-centric, retail-oriented colocation.
Cost Management and Efficiency
Cash SG&A, excluding bad debt, reduced by approximately $35 million in 2024 compared to 2023, with further reductions expected in 2025.
Positive Outlook for 2025
The company expects total company organic tenant billings growth of approximately 5% in 2025 and a continuation of solid performance in the U.S. data center business, growing at nearly 12% at the midpoint.