American Tower Expects FY15 Revenue Below Estimates

(RTTNews) - American Tower Corp. (AMT) Thursday said it raised the midpoint of adjusted EBITDA for full year 2015 by $5 million and adjusted FFO by $10 million.

The company expects full year net income in a range of $670 to $690 million, expecting a decline of 15.3 percent from the midpoint. Adjusted FFO is expected in a range of $2.115 to $2.135 billion, while Adjusted EBITDA projection is in a range of $3.035 to $3.055 per share.

Total rental and management revenue is expected to be in a range of $4.635 to $4.665 billion.

On average, 14 analysts polled by Thomson Reuters expected the company to earn $5.01 per share on revenue of $4.72 billion. Analysts estimates usually exclude special items.

For the third-quarter Net income attributable to the company declined to $102.999 million from $207.593 million a year ago. On a per share basis, earnings were down at $0.18 from $0.50 a year ago. Wall Street expected $1.23 per share on revenue of $1.22 billion.

Revenue for the quarter increased to $1.237 billion from $1.038 billion last year.