Q2 26 EPS
$1.86
BEAT +20.22%
Est. $1.55
Q2 26 Revenue
$2.75B
BEAT +1.94%
Est. $2.70B
vs S&P Since Q2 26
-2.9%
TRAILING MARKET
AMT +1.5% vs S&P +4.4%
Market Reaction
Did AMT Beat Earnings? Q2 2026 Results
American Tower delivered a standout second quarter for 2026, posting earnings of $1.86 per share to beat the $1.55 consensus estimate by 20.22%, while revenue of $2.75 billion edged past expectations by 1.94% and climbed 4.7% year over year. The head… Read more American Tower delivered a standout second quarter for 2026, posting earnings of $1.86 per share to beat the $1.55 consensus estimate by 20.22%, while revenue of $2.75 billion edged past expectations by 1.94% and climbed 4.7% year over year. The headline profit figure was amplified by a meaningful swing in foreign currency results, with gains of approximately $42.10 million in the period contrasting sharply against losses of $484.00 million a year ago, though the underlying business also showed genuine momentum. CEO Steve Vondran pointed to record leasing activity at CoreSite data centers as a primary growth engine, with the Data Centers segment expanding 13.4% to $297.00 million and international markets adding further lift, including a 23.5% jump in Africa and APAC. U.S. And Canada property revenue faced headwinds from DISH-related cancellations of $63.00 million, partially offsetting those gains. Management raised its full-year 2026 outlook for the second time, guiding AFFO per share to $11.00 to $11.17, reflecting continued confidence in data center demand and favorable currency tailwinds.
Key Takeaways
- • Robust leasing demand across global tower portfolio
- • Record leasing activity at CoreSite data centers
- • Strong international property revenue growth, particularly in Africa & APAC (23.5%) and Latin America (13.4%)
- • Foreign currency gains of $42.1 million vs. losses of $484.0 million in prior-year period boosted net income growth
- • Organic Tenant Billings growth of 1.7%
- • Total Tenant Billings growth of 2.4%
- • Data Centers segment revenue growth of 13.4%
AMT Forward Guidance & Outlook
The company raised its full-year 2026 outlook for the second time, driven by Data Center outperformance, favorable foreign currency exchange rate fluctuations, and one-time expense benefits. Updated full-year 2026 guidance: Total property revenue of $10,695M to $10,845M (midpoint growth 4.5%); Net income of $3,270M to $3,350M (midpoint growth 25.9%); Adjusted EBITDA of $7,240M to $7,310M (midpoint growth 2.0%); AFFO attributable to AMT common stockholders of $5,135M to $5,215M (midpoint growth 2.7%); AFFO per share of $11.00 to $11.17 (midpoint growth 3.0%). Segment property revenue outlook at midpoint: U.S. & Canada $5,060M-$5,120M (growth -3.0%), Latin America $1,790M-$1,810M (growth 9.6%), Africa & APAC $1,620M-$1,640M (growth 14.6%), Europe $1,025M-$1,055M (growth 10.9%), Data Centers $1,200M-$1,220M (growth 14.9%). Total capital expenditures expected at $1,805M to $1,915M, including 1,700 to 2,300 new communications sites globally and $695M of data center development spend.
AMT YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
AMT Revenue by Segment
With YoY comparisons, source: SEC Filings
AMT Revenue by Geography
With YoY comparisons, source: SEC Filings
“We delivered another strong quarter, driven by robust leasing demand across our global tower portfolio, record leasing activity at CoreSite, and continued operational excellence. This momentum translated into mid-single-digit AFFO per share growth, normalized for one-time DISH churn, and enabled us to raise our full-year outlook for the second time this year.”
— Steve Vondran, Q2 2026 Earnings Press Release
AMT Earnings Trends
AMT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AMT EPS Trend
Earnings per share: estimate vs actual
AMT Revenue Trend
Quarterly revenue: estimate vs actual
AMT Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.55 | $1.86 | +20.22% | $2.75B | +1.94% |
| Q1 26 BEAT | $1.57 | $1.84 | +17.03% | $2.74B | +3.27% |
| Q4 25 BEAT FY | $1.47 | $1.75 | +19.06% | $2.74B | +1.66% |
| FY Full Year | $5.11 | $5.40 | +5.61% | $10.64B | +0.49% |
| Q3 25 BEAT | $1.65 | $1.82 | +10.06% | $2.72B | +2.31% |
| Q2 25 MISS | $1.66 | $0.78 | -53.14% | $2.63B | +1.26% |
| Q1 25 MISS | $1.57 | $1.04 | -33.55% | $2.56B | +0.75% |