American Tower (AMT) Q1 2026 Earnings
How Did AMT Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +6.29%.
Did AMT Beat Earnings? Q1 2026 Results
Yes. American Tower reported Q1 2026 earnings of $1.84 a share on Apr 28, 2026, beating the $1.57 consensus estimate by 17.0%. Revenue was $2.7B against a $2.7B estimate.
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.
- 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
What Was American Tower's Outlook in Q1 2026?
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
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.7B | $2.6B | +6.8% |
| Gross Profit | $2.0B | $1.9B | +5.5% |
| Operating Income | $1.2B | $1.3B | −1.2% |
| Net Income | $878.5M | $488.7M | +79.8% |
AMT Revenue by Segment
AMT Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.