Stock Monitor: Five Point Holdings Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 25, 2018 / If you want access to our free earnings report on American Tower Corp. (REIT) (NYSE: AMT), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AMT. The Company posted its financial results on May 01, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Company's total operating revenues grew 7.8% on a y-o-y basis, meeting market consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, American Tower most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During Q1 FY18, American Tower's total operating revenues rose to $1.74 billion from $1.62 billion in Q1 FY17. The Company's total revenue numbers met market consensus estimates of $1.74 billion. The Company generated revenues from Property of $1.71 billion in Q1 FY18 compared to $1.59 billion in the year ago same period. Furthermore, the Company's Services revenues were $31.4 million during Q1 FY18 compared to $22.1 million in Q1 FY17.
The wireless communications infrastructure Company reported a net income attributable to common stockholders of $275.8 million, or $0.63 per diluted share, in Q1 FY18 compared to $289.3 million, or $0.67 per diluted share, in Q1 FY17. The Company's adjusted funds from operations (AFFO) attributable to common stockholders stood at $759.3 million, or $1.73 per diluted share, during Q1 FY18 compared to $680.5 million, or $1.58 per diluted share, in Q1 FY17. Meanwhile, Wall Street had expected the Company to report AFFO of $1.76 per diluted share.
The Boston, Massachusetts-based Company's total operating expenses increased to $1.34 billion in Q1 FY18 from $1.08 billion in Q1 FY17. The Company's operating income came in at $402.9 million in Q1 FY18 versus $531.4 million in the previous year's comparable quarter. For Q1 FY18, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $1.06 billion, or 61% of total operating revenues, compared to $1.62 billion, or 62% of total operating revenues, in Q1 FY17.
Cash Matters and Balance Sheet
For Q1 FY18, the Company's cash flow from operations increased to $791.8 million from $678.2 million in Q1 FY17. Furthermore, the Company's free cash flow increased 16.9% to $586 million y-o-y in the reported quarter.
As on March 31, 2018, American Tower reported cash, cash equivalents, and restricted cash balance of $1.28 billion compared to $954.9 million as on December 31, 2017. The Company's total net debt balance was $20.25 billion at the end of Q1 FY18, with a net debt leverage ratio of 4.8x.
In its guidance for FY18, American Tower's management expects total property revenues to be in the range of $6.87 billion to $7.06 billion, with a growth of 6.1% y-o-y at midpoint. The Company's net income is anticipated to be between $1.34 billion and $1.44 billion for FY18. The Company anticipates adjusted EBITDA to be in the band of $4.27 billion to $4.37 billion, and AFFO to be between $3.18 billion and $3.28 billion for FY18.
Stock Performance Snapshot
May 24, 2018 - At Thursday's closing bell, American Tower's stock was marginally down 0.97%, ending the trading session at $135.50.
Volume traded for the day: 1.73 million shares.
Stock performance in the past twelve-month period - up 4.80%
After yesterday's close, American Tower's market cap was at $59.76 billion.
Price to Earnings (P/E) ratio was at 52.44.
The stock has a dividend yield of 2.21%.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.
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