Companies /Real Estate

American Tower Corp

NYSE: AMT Reit - Specialty
$175.85
▼ $1.90 (−1.07%) today
Markets closed · 9:23pm ET

Q1 2026 Earnings

Reported Apr 28, 2026, 7:04am ET · SEC source
$1.84
Beat +17.03%
EPS · est. $1.57
$2.7B
Beat +3.27%
Revenue · est. $2.7B
−1.5%
Trailing market
AMT vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−1.8%−0.9%0+0.9%Apr 28Apr 29report 7:04am ETearnings−0.5%+0.4%
−1.8%−0.9%0+0.9%Apr 28Apr 29earnings−0.5%+0.4%
AMT +0.4%S&P 500 −0.5%
−1.8%−0.9%0+0.9%Apr 28Apr 29report 7:04am ETearnings−0.1%+0.4%
−1.8%−0.9%0+0.9%Apr 28Apr 29earnings−0.1%+0.4%
AMT +0.4%NASDAQ −0.1%
0+2%+4%Apr 27May 6report 7:04am ETearnings+2.1%+1.5%
0+2%+4%Apr 27May 6earnings+2.1%+1.5%
AMT +1.5%S&P 500 +2.1%
0+2%+4%Apr 27May 6report 7:04am ETearnings+4.1%+1.5%
0+2%+4%Apr 27May 6earnings+4.1%+1.5%
AMT +1.5%NASDAQ +4.1%
+1.77%
Day of report
−0.12%
Next session
−0.16%
One week
+4.80%
30 days

S&P 500 over the same 30 days: +6.29%.

Did AMT Beat Earnings? Q1 2026 Results

American Tower delivered a notably strong first quarter of 2026, with earnings per share of $1.84 beating the Wall Street consensus of $1.57 by 17.03% and revenue of $2.74 billion topping estimates by 3.27% while rising 6.8% year-over-year. The headline results were meaningfully lifted by a $68.10 million unrealized foreign currency gain in the quarter, which compared favorably to a $345.70 million foreign currency loss in the prior-year period, helping net income climb 76.2% to $878.50 million. Beneath that tailwind, underlying momentum remained solid, with international segments carrying much of the weight; Europe surged 22.4% and Latin America grew 20.3%, while the Data Centers segment expanded 18.4% to $289.00 million. Adjusted EBITDA rose 5.2% to $1.84 billion. Looking ahead, management raised its full-year 2026 guidance, now projecting AFFO per share of $10.90 to $11.07, with the upgrade reflecting continued foreign currency tailwinds and accelerating straight-line revenue recognition in Latin America.

Key Takeaways
  • Rising mobile data consumption driving tower demand
  • Accelerating cloud adoption supporting data center growth
  • Rapid expansion of AI-driven workloads increasing infrastructure demand
  • Latin America property revenue growth of 20.3% driven by escalations and pass-through revenue
  • Favorable foreign currency exchange rate fluctuations contributing $68.1 million gain vs. $345.7 million loss in prior year
  • Organic Tenant Billings Growth of 1.7% across property portfolio
  • Data Centers segment revenue growth of 18.4%
  • Europe property revenue growth of 22.4%

“We had an excellent start to 2026. The structural growth drivers of our business continue to strengthen, with rising mobile data consumption, accelerating cloud adoption and the rapid expansion of AI-driven workloads all pointing toward sustained investment in high-quality digital infrastructure.”

American Tower CEO, on the earnings call

Forward Guidance & Outlook

The company raised its full year 2026 outlook. Total property revenue is now expected at $10,585 million to $10,735 million (midpoint growth of 3.4%). Net income is expected at $3,015 million to $3,095 million (midpoint growth of 16.2%). Net income attributable to AMT common stockholders is expected at $2,965 million to $3,045 million (midpoint growth of 18.8%). Adjusted EBITDA is expected at $7,195 million to $7,265 million (midpoint growth of 1.4%). AFFO attributable to AMT common stockholders is expected at $5,090 million to $5,170 million (midpoint growth of 1.8%). AFFO per share is expected at $10.90 to $11.07 (midpoint growth of 2.1%). The raise reflects favorable foreign currency exchange rate fluctuations and accelerating straight-line revenue in Latin America. Full year capital expenditures are expected at $1,800 million to $1,910 million, including $695 million of data center development spend and the construction of 1,700 to 2,300 communications sites globally. Segment property revenue outlook at midpoint: U.S. & Canada $5,060M-$5,120M (growth of -3.0%), Latin America $1,730M-$1,750M (growth of 5.9%), Africa & APAC $1,595M-$1,615M (growth of 12.8%), Europe $1,025M-$1,055M (growth of 10.9%), Data Centers $1,175M-$1,195M (growth of 12.5%).

AMT YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$800.0M$1.6B$2.4B$2.6B$2.7BRevenue$1.9B$2.0BGross Profit$1.3B$1.2BOperating Income$488.7M$878.5MNet Income
$0$800.0M$1.6B$2.4BRevenueGross ProfitOperating IncomeNet Income

AMT Revenue by Segment

U.S. & Canada Property$1.3B−2.8%
Latin America Property$480.0M+20.3%
Africa & APAC Property$379.0M+13.5%
Data Centers$289.0M+18.4%
Europe Property$261.0M+22.4%
Services$68.0M−9.4%

AMT Revenue by Geography

United States
Latin America
Africa
Europe

Figures from SEC filings and company reports. Not investment advice.