- Wednesday, October 16, 2024
By Najat Kantouar
Helios Towers, a leading telecommunications-infrastructure company, has announced stronger adjusted earnings for the third quarter, driven by impressive tenancy growth. As a result, the company has also upgraded its full-year guidance across all metrics.
During the quarter ending September 30, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 7% to $95.4 million, compared to $89.1 million in the second quarter of 2023.
Helios Towers now forecasts adjusted EBITDA for the year to be in the range of $365 million to $370 million, surpassing the previous guidance of $355 million to $365 million.
In addition to the promising earnings growth, the company recorded a rise in revenue from $179.4 million in the second quarter to $183.5 million.
Looking ahead, Chief Executive Officer Tom Greenwood expressed confidence in the continued momentum from fiscal 2023, which is expected to extend into fiscal 2024. This will pave the way for continued expansion of the tenancy ratio, double-digit organic adjusted EBITDA growth, and a reduction in net leverage to below 4.0x.
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