Subtext

American Tower Corporation AMT

SectorReal Estate
Transcripts72
Date range2007-08-02 – 2025-04-29
Calls charted72

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-13-7+0+7+132007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12007 Q2 · Overall: +2.12007 Q3 · Overall: +6.92007 Q4 · Overall: +3.92008 Q1 · Overall: +5.92008 Q2 · Overall: +8.42008 Q3 · Overall: +5.72008 Q4 · Overall: +7.92009 Q1 · Overall: +6.92009 Q2 · Overall: +6.02009 Q3 · Overall: +9.72009 Q4 · Overall: +8.92010 Q1 · Overall: +5.72010 Q2 · Overall: +3.82010 Q3 · Overall: +5.92010 Q4 · Overall: +7.62011 Q1 · Overall: +5.02011 Q2 · Overall: +5.02011 Q3 · Overall: +5.52011 Q4 · Overall: +3.52012 Q1 · Overall: +3.92012 Q2 · Overall: +2.32012 Q3 · Overall: +5.52012 Q4 · Overall: +3.92013 Q1 · Overall: +6.22013 Q2 · Overall: +7.42013 Q3 · Overall: +2.22013 Q4 · Overall: +8.12014 Q1 · Overall: +6.42014 Q2 · Overall: +7.92014 Q3 · Overall: +8.12014 Q4 · Overall: +4.02015 Q1 · Overall: +5.82015 Q2 · Overall: +9.02015 Q3 · Overall: +7.12015 Q4 · Overall: +7.52016 Q1 · Overall: +5.72016 Q2 · Overall: +6.12016 Q3 · Overall: +8.62016 Q4 · Overall: +5.82017 Q1 · Overall: +9.32017 Q2 · Overall: +5.92017 Q3 · Overall: +6.52017 Q4 · Overall: +9.12018 Q1 · Overall: +8.72018 Q2 · Overall: +7.32018 Q3 · Overall: +6.72018 Q4 · Overall: +6.72019 Q1 · Overall: +9.72019 Q2 · Overall: +1.22019 Q3 · Overall: +7.32019 Q4 · Overall: +6.22020 Q1 · Overall: +9.02020 Q2 · Overall: +6.22020 Q3 · Overall: +6.32020 Q4 · Overall: +7.82021 Q1 · Overall: +11.12021 Q2 · Overall: +11.42021 Q3 · Overall: +11.12021 Q4 · Overall: +8.12022 Q1 · Overall: +10.22022 Q2 · Overall: +9.22022 Q3 · Overall: +7.12022 Q4 · Overall: +9.92023 Q1 · Overall: +11.32023 Q2 · Overall: +7.42023 Q3 · Overall: +8.72023 Q4 · Overall: +7.02024 Q1 · Overall: +2.32024 Q2 · Overall: +10.52024 Q3 · Overall: +6.02024 Q4 · Overall: +11.32025 Q1 · Overall: +8.1
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-35-18+0+18+352007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12007 Q2 · CEO: +11.12007 Q3 · CEO: +10.22007 Q4 · CEO: +8.72008 Q1 · CEO: +12.22008 Q2 · CEO: +9.92008 Q3 · CEO: +8.42008 Q4 · CEO: +12.72009 Q1 · CEO: +13.22009 Q2 · CEO: +11.22009 Q3 · CEO: +19.02009 Q4 · CEO: +8.32010 Q1 · CEO: +14.32010 Q2 · CEO: +11.32010 Q3 · CEO: +9.92010 Q4 · CEO: +18.22011 Q1 · CEO: +12.82011 Q2 · CEO: +9.72011 Q3 · CEO: +9.02011 Q4 · CEO: +13.62012 Q1 · CEO: +14.42012 Q2 · CEO: +10.82012 Q3 · CEO: +8.82012 Q4 · CEO: +9.82013 Q1 · CEO: +5.82013 Q2 · CEO: +9.02013 Q3 · CEO: +2.42013 Q4 · CEO: +15.22014 Q1 · CEO: +14.32014 Q2 · CEO: +13.52014 Q3 · CEO: +13.32014 Q4 · CEO: +11.72015 Q3 · CEO: +9.72015 Q4 · CEO: +14.12016 Q1 · CEO: +6.52016 Q2 · CEO: +10.72016 Q4 · CEO: +18.42017 Q1 · CEO: +18.02017 Q2 · CEO: +13.52017 Q3 · CEO: +12.42017 Q4 · CEO: +19.92018 Q2 · CEO: +16.02018 Q3 · CEO: +16.32018 Q4 · CEO: +17.62019 Q1 · CEO: +12.92019 Q2 · CEO: +10.52019 Q3 · CEO: +18.52019 Q4 · CEO: +15.02020 Q1 · CEO: +14.32020 Q2 · CEO: +14.02020 Q3 · CEO: +9.02020 Q4 · CEO: +30.52021 Q1 · CEO: +16.42021 Q2 · CEO: +26.42021 Q3 · CEO: +18.42021 Q4 · CEO: +17.22022 Q1 · CEO: +14.12022 Q2 · CEO: +16.22022 Q3 · CEO: +17.12022 Q4 · CEO: +17.22023 Q1 · CEO: +18.62023 Q2 · CEO: +12.42023 Q4 · CEO: +13.52024 Q2 · CEO: +12.92024 Q3 · CEO: +9.52024 Q4 · CEO: +15.82025 Q1 · CEO: +12.12007 Q2 · CFO: -2.02007 Q3 · CFO: +6.72007 Q4 · CFO: +4.22008 Q1 · CFO: +7.02008 Q2 · CFO: +9.22008 Q3 · CFO: +8.92008 Q4 · CFO: +5.82009 Q1 · CFO: +6.72009 Q2 · CFO: +6.72009 Q3 · CFO: +15.52009 Q4 · CFO: +14.72010 Q1 · CFO: +4.62010 Q2 · CFO: +2.72010 Q3 · CFO: +7.22010 Q4 · CFO: +5.62011 Q1 · CFO: +0.52011 Q2 · CFO: +6.02011 Q3 · CFO: +6.82011 Q4 · CFO: +1.62012 Q1 · CFO: +3.92012 Q2 · CFO: +2.02012 Q3 · CFO: +8.02012 Q4 · CFO: +3.72013 Q1 · CFO: +8.92013 Q2 · CFO: +4.82013 Q3 · CFO: +5.92013 Q4 · CFO: +3.22014 Q1 · CFO: +0.02014 Q2 · CFO: +5.92014 Q3 · CFO: +8.72014 Q4 · CFO: +2.62015 Q1 · CFO: +0.92015 Q2 · CFO: -1.12015 Q3 · CFO: +12.82015 Q4 · CFO: +13.12016 Q1 · CFO: +9.92016 Q2 · CFO: +7.02016 Q3 · CFO: +10.72016 Q4 · CFO: +5.52017 Q1 · CFO: +9.62017 Q2 · CFO: +2.32017 Q3 · CFO: +6.92017 Q4 · CFO: +9.02018 Q1 · CFO: +4.92018 Q2 · CFO: +7.42018 Q3 · CFO: +7.52018 Q4 · CFO: +3.22019 Q1 · CFO: +14.12019 Q2 · CFO: -1.62019 Q3 · CFO: +1.32019 Q4 · CFO: +6.02020 Q1 · CFO: +2.72020 Q2 · CFO: -0.32020 Q3 · CFO: +7.72020 Q4 · CFO: +0.02021 Q1 · CFO: +8.32021 Q2 · CFO: +4.42021 Q3 · CFO: +6.62021 Q4 · CFO: +5.92022 Q1 · CFO: +12.92022 Q2 · CFO: +9.02022 Q3 · CFO: +1.72022 Q4 · CFO: +8.12023 Q1 · CFO: +12.92023 Q2 · CFO: +6.22023 Q3 · CFO: +8.62023 Q4 · CFO: +5.52024 Q2 · CFO: +11.82024 Q3 · CFO: +4.32024 Q4 · CFO: +7.42025 Q1 · CFO: +10.8
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-35-17+0+17+352007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12007 Q2 · Prepared remarks: +6.32007 Q3 · Prepared remarks: +9.32007 Q4 · Prepared remarks: +6.42008 Q1 · Prepared remarks: +16.92008 Q2 · Prepared remarks: +13.72008 Q3 · Prepared remarks: +6.52008 Q4 · Prepared remarks: +13.22009 Q1 · Prepared remarks: +15.72009 Q2 · Prepared remarks: +10.32009 Q3 · Prepared remarks: +17.32009 Q4 · Prepared remarks: +13.22010 Q1 · Prepared remarks: +8.72010 Q2 · Prepared remarks: +7.12010 Q3 · Prepared remarks: +10.62010 Q4 · Prepared remarks: +7.42011 Q1 · Prepared remarks: +6.82011 Q2 · Prepared remarks: +9.22011 Q3 · Prepared remarks: +4.82011 Q4 · Prepared remarks: +5.22012 Q1 · Prepared remarks: +9.82012 Q2 · Prepared remarks: +6.62012 Q3 · Prepared remarks: +9.32012 Q4 · Prepared remarks: +8.12013 Q1 · Prepared remarks: +7.32013 Q2 · Prepared remarks: +15.32013 Q3 · Prepared remarks: +5.12013 Q4 · Prepared remarks: +13.42014 Q1 · Prepared remarks: +13.22014 Q2 · Prepared remarks: +11.82014 Q3 · Prepared remarks: +9.52014 Q4 · Prepared remarks: +11.12015 Q1 · Prepared remarks: +13.02015 Q2 · Prepared remarks: +16.02015 Q3 · Prepared remarks: +14.92015 Q4 · Prepared remarks: +13.32016 Q1 · Prepared remarks: +8.52016 Q2 · Prepared remarks: +12.52016 Q3 · Prepared remarks: +8.92016 Q4 · Prepared remarks: +12.32017 Q1 · Prepared remarks: +14.92017 Q2 · Prepared remarks: +10.82017 Q3 · Prepared remarks: +9.52017 Q4 · Prepared remarks: +16.72018 Q1 · Prepared remarks: +10.52018 Q2 · Prepared remarks: +11.62018 Q3 · Prepared remarks: +10.62018 Q4 · Prepared remarks: +15.82019 Q1 · Prepared remarks: +14.42019 Q2 · Prepared remarks: +12.72019 Q3 · Prepared remarks: +16.62019 Q4 · Prepared remarks: +17.92020 Q1 · Prepared remarks: +5.32020 Q2 · Prepared remarks: +4.32020 Q3 · Prepared remarks: +12.22020 Q4 · Prepared remarks: +13.42021 Q1 · Prepared remarks: +14.52021 Q2 · Prepared remarks: +20.02021 Q3 · Prepared remarks: +13.62021 Q4 · Prepared remarks: +13.22022 Q1 · Prepared remarks: +13.32022 Q2 · Prepared remarks: +9.62022 Q3 · Prepared remarks: +13.32022 Q4 · Prepared remarks: +13.22023 Q1 · Prepared remarks: +11.72023 Q2 · Prepared remarks: +13.12023 Q3 · Prepared remarks: +9.02023 Q4 · Prepared remarks: +19.02024 Q1 · Prepared remarks: +30.32024 Q2 · Prepared remarks: +17.22024 Q3 · Prepared remarks: +7.42024 Q4 · Prepared remarks: +16.42025 Q1 · Prepared remarks: +16.22007 Q2 · Q&A responses: +2.82007 Q3 · Q&A responses: +7.02007 Q4 · Q&A responses: +6.42008 Q1 · Q&A responses: +4.72008 Q2 · Q&A responses: +5.62008 Q3 · Q&A responses: +9.22008 Q4 · Q&A responses: +6.22009 Q1 · Q&A responses: +3.72009 Q2 · Q&A responses: +3.92009 Q3 · Q&A responses: +10.82009 Q4 · Q&A responses: +8.02010 Q1 · Q&A responses: +7.42010 Q2 · Q&A responses: +4.52010 Q3 · Q&A responses: +4.32010 Q4 · Q&A responses: +13.62011 Q1 · Q&A responses: +5.02011 Q2 · Q&A responses: +5.02011 Q3 · Q&A responses: +10.02011 Q4 · Q&A responses: +5.52012 Q1 · Q&A responses: +0.32012 Q2 · Q&A responses: -0.32012 Q3 · Q&A responses: +0.92012 Q4 · Q&A responses: +2.52013 Q1 · Q&A responses: +7.22013 Q2 · Q&A responses: +5.92013 Q3 · Q&A responses: +1.12013 Q4 · Q&A responses: +8.42014 Q1 · Q&A responses: +7.82014 Q2 · Q&A responses: +10.42014 Q3 · Q&A responses: +11.82014 Q4 · Q&A responses: +6.62015 Q1 · Q&A responses: +6.62015 Q2 · Q&A responses: +6.92015 Q3 · Q&A responses: +7.62015 Q4 · Q&A responses: +5.52016 Q1 · Q&A responses: +7.82016 Q2 · Q&A responses: +3.72016 Q3 · Q&A responses: +10.32016 Q4 · Q&A responses: +6.92017 Q1 · Q&A responses: +10.22017 Q2 · Q&A responses: +7.92017 Q3 · Q&A responses: +8.02017 Q4 · Q&A responses: +9.92018 Q1 · Q&A responses: +10.82018 Q2 · Q&A responses: +10.52018 Q3 · Q&A responses: +10.62018 Q4 · Q&A responses: +10.52019 Q1 · Q&A responses: +10.12019 Q2 · Q&A responses: +4.32019 Q3 · Q&A responses: +7.72019 Q4 · Q&A responses: +8.52020 Q1 · Q&A responses: +15.22020 Q2 · Q&A responses: +10.82020 Q3 · Q&A responses: +3.12020 Q4 · Q&A responses: +8.92021 Q1 · Q&A responses: +10.82021 Q2 · Q&A responses: +11.02021 Q3 · Q&A responses: +9.92021 Q4 · Q&A responses: +6.42022 Q1 · Q&A responses: +10.92022 Q2 · Q&A responses: +7.92022 Q3 · Q&A responses: +3.42022 Q4 · Q&A responses: +10.32023 Q1 · Q&A responses: +12.12023 Q2 · Q&A responses: +4.22023 Q4 · Q&A responses: +1.32024 Q1 · Q&A responses: +2.82024 Q2 · Q&A responses: +8.92024 Q3 · Q&A responses: -16.92024 Q4 · Q&A responses: +9.02025 Q1 · Q&A responses: +8.9
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$1.83$4.66$7.502007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12014 Q1: $2.272014 Q2: $2.472014 Q3: $2.712014 Q4: $2.752015 Q1: $2.462015 Q2: $2.422015 Q3: $2.222015 Q4: $2.422016 Q1: $2.452016 Q2: $2.602016 Q3: $2.592016 Q4: $2.742017 Q1: $2.862017 Q2: $3.302017 Q3: $3.522017 Q4: $3.582018 Q1: $3.382018 Q2: $3.422018 Q3: $3.462018 Q4: $3.562019 Q1: $3.692019 Q2: $3.942019 Q3: $4.172019 Q4: $4.542020 Q1: $4.662020 Q2: $4.542020 Q3: $4.762020 Q4: $5.512021 Q1: $5.512021 Q2: $5.312021 Q3: $5.502021 Q4: $5.462022 Q1: $4.762022 Q2: $4.712022 Q3: $5.092022 Q4: $4.642023 Q1: $4.552023 Q2: $4.472023 Q3: $4.642023 Q4: $4.862024 Q1: $7.112024 Q2: $6.622024 Q3: $6.80

Forward P/E

26.1143.2860.452007 Q22009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12014 Q1: 35.582014 Q2: 35.662014 Q3: 35.262014 Q4: 35.322015 Q1: 38.862015 Q2: 38.812015 Q3: 40.762015 Q4: 40.292016 Q1: 40.742016 Q2: 41.242016 Q3: 41.882016 Q4: 38.872017 Q1: 40.312017 Q2: 39.552017 Q3: 40.792017 Q4: 40.152018 Q1: 43.362018 Q2: 39.842018 Q3: 42.622018 Q4: 45.662019 Q1: 50.742019 Q2: 54.802019 Q3: 53.112019 Q4: 48.012020 Q1: 46.602020 Q2: 58.082020 Q3: 55.342020 Q4: 39.862021 Q1: 40.502021 Q2: 50.192021 Q3: 54.022021 Q4: 50.252022 Q1: 50.372022 Q2: 51.312022 Q3: 49.502022 Q4: 47.382023 Q1: 44.422023 Q2: 43.132023 Q3: 38.122023 Q4: 43.422024 Q1: 28.482024 Q2: 29.122024 Q3: 34.70

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q4 tone ↓ -4.1 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q2 tone ↑ +3.1 fwd EPS ↓ -0.03 Tone rose while the forward EPS estimate was cut.
  • 2016 Q4 tone ↓ -2.8 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q2 tone ↓ -3.4 fwd EPS ↑ +0.44 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q2 tone ↓ -8.5 fwd EPS ↑ +0.25 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↑ +2.1 fwd EPS ↓ -0.70 Tone rose while the forward EPS estimate was cut.
  • 2022 Q3 tone ↓ -2.1 fwd EPS ↑ +0.38 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +2.8 fwd EPS ↓ -0.45 Tone rose while the forward EPS estimate was cut.
  • 2024 Q1 tone ↓ -4.7 fwd EPS ↑ +2.25 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↑ +8.2 fwd EPS ↓ -0.49 Tone rose while the forward EPS estimate was cut.
  • 2024 Q3 tone ↓ -4.5 fwd EPS ↑ +0.18 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-29+8.1——View →
2024 Q42025-02-25+11.3——View →
2024 Q32024-10-29+6.0$6.8034.7View →
2024 Q22024-07-30+10.5$6.6229.1View →
2024 Q12024-04-30+2.3$7.1128.5View →
2023 Q42024-02-27+7.0$4.8643.4View →
2023 Q32023-10-26+8.7$4.6438.1View →
2023 Q22023-07-27+7.4$4.4743.1View →