American Tower在2025年第四季度的盈利预期中超预期，尽管DISH违约，仍上调了2026年的财报指引，并加大了股票回购。 American Tower beat earnings expectations in Q4 2025, raised 2026 guidance despite DISH default, and boosted stock buybacks.

美国塔(American Tower)报告,2025年第四季度收入为每股2.63美元,超过预期,收入为27.4亿美元,每年增长7.5%。 American Tower reported fourth-quarter 2025 earnings of $2.63 per share, exceeding expectations, with revenue of $2.74 billion, up 7.5% year over year. 该公司将其经过调整的2026年FFO指南提高到每股10.78至10.95美元,其中引用了无线航空公司的强劲租赁需求以及由5G、AI和混合型集群趋势推动的数据中心增长。 The company raised its 2026 adjusted FFO guidance to $10.78–$10.95 per share, citing strong leasing demand from wireless carriers and data center growth driven by 5G, AI, and hybrid-cloud trends. 尽管由于支出增加,净收入减少了33%,但经调整的业务资金增加了13.4%,公司债务与投资、技术和企业发展司的净比率下降4.9倍。 Despite a 33% drop in net income due to rising expenses, adjusted funds from operations rose 13.4%, and the company reduced its net debt-to-EBITDA ratio to 4.9 times. 该公司在2025年重新购回了3.65亿美元的库存,这是2017年以来的最高年度回购,并在承运公司违约后从2026年的指南中扣除了DISH的收入。 It repurchased $365 million in stock in 2025, the highest annual buyback since 2017, and removed DISH’s revenue from 2026 guidance after the carrier defaulted. 管理层预计,2026年的收入增长约为1%或4%,不包括DISH curn,但区域业绩各不相同。 Management expects 2026 revenue growth of about 1% or 4% excluding DISH churn, with regional performance varying.