What factors drove AMT's EPS volatility in 2024?

American Tower's (AMT) EPS experienced volatility in 2024 due to several factors:

1. **Foreign Exchange Headwinds**: American Tower faced a foreign exchange headwind of approximately 70 basis points for 2024, which could potentially erode earnings and impact growth rates. Currency fluctuations, if severe or prolonged, could lead to increased volatility in financial results and potentially affect profitability.
2. **Indian Market Exit**: The company exited the Indian market in September 2024, incurring a $1.2 billion loss, primarily including the reclassification of the company’s cumulative translation adjustment in India upon exiting the market. This exit reflects challenges in profitability and operational complexity in the region.
3. **Latin American Market Challenges**: In Latin America, American Tower is facing a $36 million impact on EBITDA and a $33 million reduction in AFFO compared to its previous outlook due to additional reserves related to Colombian carrier WOM, which is effectively undergoing bankruptcy proceedings. Additionally, the region is grappling with challenges stemming from issues with Oi, the potential for further consolidation, and the impact of foreign exchange rate fluctuations.

In conclusion, American Tower's EPS volatility in 2024 was primarily driven by foreign exchange headwinds, the exit from the Indian market, and the challenges in the Latin American market. These factors collectively contributed to the fluctuations in the company's earnings per share (EPS) during the year.