American Tower Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 07:00 am EST
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American Tower Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 2,765.7 million compared to USD 2,644.8 million a year ago. Revenue was USD 2,786.7 million compared to USD 2,705 million a year ago. Net income was USD 84.9 million compared to net loss of USD 683.8 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to basic loss per share from continuing operations of USD 1.47 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to diluted loss per share from continuing operations of USD 1.47 a year ago.
For the full year, sales was USD 11,001.2 million compared to USD 10,470 million a year ago. Revenue was USD 11,144.2 million compared to USD 10,711.1 million a year ago. Net income was USD 1,483.3 million compared to USD 1,765.8 million a year ago. Basic earnings per share from continuing operations was USD 3.18 compared to USD 3.83 a year ago. Diluted earnings per share from continuing operations was USD 3.18 compared to USD 3.82 a year ago.
American Tower Corporation specializes in owning, developing and operating of wireless and broadcast communications infrastructure. Net sales break down by activity as follows:
- rental and management of communications sites (98.7%): wireless towers (224,502 towers owned at the end of 2023), broadcast towers and distributed antenna systems (integrated systems in operated in malls and casino/hotel resorts). The group also leases antenna space on communications towers, manages tower sites for third parties and provides rooftop management services;
- network development services (1.3%): providing of tower site acquisition, zoning and permitting services, and structural analysis services to wireless carriers in connection with the installation of communications equipment on towers.
Net sales are distributed geographically as follows: the United States (55.5), Brazil (7.1%), Mexico (5.5%), Latin America (3.6%), Africa (11%), India (10.2%), Europe ( 7%) and others (0.1%).