American Tower Q1 Profit Declines - Quick Facts

(RTTNews) - American Tower Corp. (AMT) reported that first-quarter net income attributable to common stockholders declined to $183.5 million or $0.45 per share, from $202.5 million or $0.51 per share in the prior-year quarter.

Adjusted Funds From Operations or AFFO increased to $513.6 million or $1.25 per share from $439.3 million or $1.10 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.16 per share. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter grew 9.7 percent to $1.08 billion from $984.09 million in the comparable quarter last year, while 17 analysts had a consensus revenue estimate of $1.07 billion for the quarter.

Looking ahead for 2015, the company now expects net income to be in the range of $830 million to $860 million, AFFO of $2.04 billion to $2.08 billion, and total rental and management revenue between $4.56 billion and $4.61 billion. Analysts expect the company to report earnings of $4.86 per share and revenues of $4.68 billion for fiscal 2015.

Earlier, the company expected net income to be in the range of $945 million to $995 million, AFFO of $1.94 billion to $2.0 billion, and total rental and management revenue between $4.25 billion and $4.33 billion.