American Tower Corporation ($AMT (+0,65%) ) slightly exceeded analysts' expectations in the first quarter of 2025 with revenue of USD 2.56 billion (forecast: USD 2.54 billion). Despite this solid start, the share price fell by 0.8% in pre-market trading. Net profit fell by 45.9% to USD 499 million, mainly due to foreign currency losses. Adjusted EBITDA rose by 1.9 % to USD 1.74 billion.
Key findings
- Sales: USD 2.56 billion (above expectations)
- Real estate sales: USD 2.49 billion (+0.2% year-on-year)
- Adjusted EBITDA: USD 1.74 billion (+1.9%)
- Net profit: USD 499 million (-45.9%, primarily due to currency losses)
- Share price decline: -0.8 % in pre-market trading
Corporate performance
The company benefited from stable global demand and positive rental trends, particularly due to mid-belt implementations and growing demand for new locations in the USA. This development led to the highest service revenue since 2021.
Outlook & forecast
For the full year 2025, American Tower forecasts
- Real estate sales: USD 9.97 - 10.12 billion (growth of approx. 1.1%)
- Adjusted EBITDA: USD 6.89 - 6.96 billion (growth of approx. 1.6%)
Statements by the management
CEO Steven Vondran emphasized the continued strong demand worldwide and the progress in the US market, which led to record service sales.
Risks & challenges
- Strong impact of foreign currency movements on net profit
- Marginal sales growth indicates limited scope for organic growth in the short term