American Tower Corp (NYSE:AMT) stock fell 2.26% (As on February 24, 11:49:25 AM UTC-4, Source: Google Finance) after the company posted mixed results for the fourth quarter of FY 22. Net income decreased 262.4% to a net loss of $(717) million. Net income attributable to AMT common stockholders decreased 250.8% to a net loss attributable to AMT common stockholders of $(684) million. The company closed the year on a positive note with colocation and amendment tenant billings growth contributions of over 4% in Q4. In particular, the U.S. and Canada property segment delivered its strongest quarter since Q1 of 2020, and the company have a clear line of sight to continued acceleration into 2023. Organic growth was complemented by the construction of nearly 7,000 sites, an American Tower record, including over 2,300 sites built in Q4, the highest level over the past eight quarters with an average day one NOI yield of over 12%.

AMT in the fourth quarter of FY 22 has reported the adjusted loss per share of $1.47, missing the analysts’ estimates for the adjusted earnings per share of $1.04. The company had reported the adjusted revenue growth of 10.6 percent to $2.71 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $2.68 billion.

The company expects total property revenues of nearly $10.8 billion, representing growth of approximately 3% or approximately 4% absent the incremental reserves assumed for VIL in 2023. The guide includes expected cash revenue growth of around $230 million in the U.S. and Canada, and $245 million of FX neutral growth in the international regions, excluding the 2023 VIL reserves of $75 million. The company also expects data centers to contribute roughly $55 million of growth in cash revenue to the property segment in 2023.

For  the U.S. and Canada, the company anticipates organic tenant billings growth of approximately 5% or greater than 6% excluding Sprint churn. This expectation includes record levels of year-over-year co-location and amendment growth of around $220 million, a nearly 50% increase over the levels achieved in 2022 and a 60% increase as compared to the trailing three-year average. Of the $220 million, over 90% is locked in through MLA-driven use right fee commencements and carryover growth. For Latin America. the company expects organic tenant billings growth of greater than 2% for the year driven by relatively consistent co-location and amendment activity and continued solid contributions from CPI-based escalators of approximately 8%.