American Tower Reduces Mid-point For FY20 Outlook Ranges - Quick Facts

(RTTNews) - While reporting its financial results for the first quarter on Wednesday, American Tower (AMT) said that aAs of April 29, 2020, it does not anticipate significant impacts to its underlying operating results in 2020 as a result of the coronavirus or COVID-19 pandemic.

Due to estimated unfavorable impacts of foreign currency exchange rate fluctuations to property revenue, American Tower said it is reducing the midpoint of its full year 2020 outlook ranges for property revenue, net income, Adjusted EBITDA and Consolidated AFFO by $300 million, $160 million, $165 million and $140 million, respectively.

The company now forecasts fiscal 2020 total property revenue in a range of $ 7,675 million to $7,825 million, net income in a range of $1,790 million to $1,890 million, adjusted EBITDA of $4,920 million to $5,020 million, and consolidated AFFO of $3,600 million to $3,700 million.