American Tower Raises FY2023 FFO Guidance from $9.53-9.76 to $9.61-9.79 vs $9.79 Est
Portfolio Pulse from Benzinga Newsdesk
American Tower Corporation (AMT) has raised its FY2023 FFO guidance from $9.53-9.76 to $9.61-9.79, which is slightly below the estimated $9.79. The company also provided its 2023 outlook, including total property revenue of $10.79-10.97 billion, net income of $1.785-1.845 billion, and adjusted EBITDA of $6.95-7.03 billion.
July 27, 2023 | 11:15 am
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POSITIVE IMPACT
American Tower's raised FY2023 FFO guidance, although slightly below estimates, along with its 2023 outlook, may have a positive impact on its stock in the short term.
The raised FY2023 FFO guidance and the 2023 outlook provided by American Tower indicate a positive financial performance for the company. Although the FFO guidance is slightly below estimates, the overall positive outlook may boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100