| UNITED STATES | |||
| SECURITIES AND EXCHANGE COMMISSION | |||
| WASHINGTON, D.C. 20549 | |||
| FORM 8-K | |||
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |||
| Date of Report (Date of Earliest Event Reported): March 21, 2017 | |||
| AMERICAN TOWER CORPORATION | |||
| (Exact Name of Registrant as Specified in Charter) | |||
| Delaware | 001-14195 | 65-0723837 | |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |
| 116 Huntington Avenue | |||
| Boston, Massachusetts 02116 | |||
| (Address of Principal Executive Offices) (Zip Code) | |||
| (617) 375-7500 | |||
| (Registrant's telephone number, including area code) | |||
| Not Applicable | |||
| (Former name or former address, if changed since last report) | |||
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): | |||
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||
| Item 7.01 | Regulation FD Disclosure. |
Updated Outlook. Subsequent to its issuance of full year 2017 outlook on February 27, 2017, American Tower Corporation (the “Company”) amended a master lease agreement with one of its tenants. Based on the amendment, the Company now expects to recognize at least $100 million in additional straight-line revenue for the year. The Company has therefore revised its guidance for the full year 2017, and now expects total property revenue, net income and Adjusted EBITDA of $6,310 million to $6,490 million, $1,275 million to $1,345 million and $3,910 million to $4,010 million, respectively. The Company’s guidance for other measures is not impacted.
Beginning on March 21, 2017, the Company intends to make available to investors updated presentation slides regarding its revised guidance. These presentation slides will be available on the Company’s website, www.americantower.com, under the Investor Relations tab. Adjusted EBITDA is a non-GAAP financial measure. The definition and reconciliation to the most directly comparable generally accepted accounting principles financial measure are included in the presentation, which is furnished herewith as Exhibit 99.1.
Exhibit 99.1 is furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such exhibit be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 8.01 Other Events.
Stock Repurchase Program. The Company will resume its stock repurchase program adopted by its Board of Directors in March 2011 (the “Buyback”), pursuant to which the Company is authorized to purchase up to an additional $1.1 billion of the Company’s common stock. Under the Buyback, the Company is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices in accordance with securities laws and other legal requirements, and subject to market conditions and other factors.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description |
| 99.1 | Investor Presentation (Furnished herewith). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMERICAN TOWER CORPORATION | |||
| (Registrant) | |||
| Date: | March 21, 2017 | By: | /s/ Thomas A. Bartlett |
| Thomas A. Bartlett | |||
| Executive Vice President and Chief Financial Officer | |||
EXHIBIT INDEX
| Exhibit No. | Description |
| 99.1 | Investor Presentation (Furnished herewith). |