American Tower (AMT) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 29, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

1.61

Last Year’s EPS

1.04

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 14 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 24, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presents a mix of strong operating and financial results for 2025—notably double-digit Q4 AFFO growth, solid data center performance, margin expansion since 2022, deleveraging into the target range and active capital returns—while flagging notable near-term headwinds for 2026 driven primarily by DISH's default, LATAM churn and some one-time data center margin reversals. Management emphasizes a multi-year efficiency program (200–300 bps tower margin expansion target), capital discipline, and secular demand tailwinds (5G/6G, fixed wireless, AI) that support a constructive long-term outlook. Given the material but largely one-time/contingent nature of the DISH impact and other near-term pressures versus strong underlying 2025 results and a defined path to margin and growth recovery, the tone is balanced.

Company Guidance

American Tower’s 2026 guidance calls for consolidated organic tenant billings growth of ~1% (≈4% excluding DISH), with U.S. & Canada organic tenant billings ~0.5% (≈4.5% ex‑DISH) driven by ~2.5% colocation/amendment contribution, ~3% escalations, ~4% DISH-related churn and ~1% normal churn; Africa & APAC organic ~8.5% (≈7% colo/amend, ~4% CPI escalations, ~2.5% churn; ~10% H1 / ~7% H2), Europe ~4% (≈3% colo/amend, ~2% CPI, ~1% churn) and LatAm ~‑3% (≈2% colo/amend, ~4% CPI, ~8% churn, ~1% other headwinds). Property revenue ex noncash straight‑line and FX is expected to grow ~3% (≈5% cash FX‑neutral normalized for DISH) while the company plans ~2,000 new tower sites at the midpoint and ~13% growth in its U.S. data center business (CoreSite delivering mid‑teens+ stabilized yields on new deployments); noncash straight‑line revenue is a ~2% GAAP headwind and FX assumptions add ~1% to growth. Adjusted EBITDA is guided to ~+2% ex straight‑line/FX (≈+5% normalized for DISH) with cash adjusted EBITDA margins of 66.8% (down ~20 bps); tower cash margins are expected to be flat despite ~60 bps one‑time DISH pressure, CoreSite cash margins down ~270 bps due to 2025 one‑offs, and services remaining a healthy but lower‑margin contributor. Attributable AFFO per share is guided to ~+1% (≈+5% normalized ex‑DISH, FX and refinancing), the company finished 2025 at 4.9x leverage (in the 3–5x target), plans a ~5% dividend increase (~$3.3B), ~$1.9B total capital deployments ($1.8B discretionary, ~$180M maintenance capex, >$700M data center success‑based investments), and will remain opportunistic on buybacks (≈$365M repurchased in 2025, ≈$53M YTD, ≈$1.6B authorization remaining).

Strong Full-Year and Q4 AFFO Performance

Attributable AFFO per share as adjusted grew ~8% for full year 2025 and over 13% in the fourth quarter, driven by robust leasing demand and conversion of adjusted EBITDA into AFFO.

Revenue and EBITDA Growth in 2025

Consolidated property revenue grew ~4% year-over-year (~5% excluding noncash straight-line and FX). Adjusted EBITDA grew ~5% (~7% excluding noncash straight-line and FX). Consolidated margin expanded ~20 basis points.

Data Center Outperformance

Data center (CoreSite) revenue grew ~14% in 2025. Company expects ~13% growth in U.S. data center revenue in 2026 and targets mid-teens stabilized yields on new data center deployments driven by AI and interconnection demand.

Operational Efficiency and Margin Expansion Track Record

Delivered >300 basis points of cash tower EBITDA margin expansion across the global tower portfolio since 2022. SG&A for tower business is ~4.5% of revenue (best-in-class). Company targets an additional 200–300 basis points of tower cash EBITDA margin expansion over the next five years via land optimization, unified sourcing, standard of care adoption and platform consolidation.

Balance Sheet Strength and Capital Returns

Leverage brought back into target range, ending 2025 at 4.9x net leverage (target 3–5x). Repurchased ~$365 million of common stock in Q4 2025 (largest quarterly/annual buyback since 2017) and ~$53 million year-to-date in 2026; ~$1.6 billion of repurchase authorization remaining. Dividend planned to grow ~5% in 2026 (subject to Board approval).

Geographic Growth Opportunities

International tower organic tenant billings growth drivers include Africa & APAC ~8.5% expected in 2026, Europe ~4% and evidence of continued newbuild activity in Europe (notably Germany and Spain) and runway for emerging markets as they mature.

Targeted Capital Deployment Plan

2026 discretionary capital deployment planned at ~$1.8 billion (total capital deployments ~$1.9 billion), with ~85% directed to developed market platforms and CoreSite, and midpoint plan to construct ~2,000 new tower sites.

American Tower (AMT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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AMT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 29, 2026	2026 (Q1)	1.61 / -	1.04	―	―	―
Feb 24, 2026	2025 (Q4)	1.48 / 1.75	2.62	-33.21% (-0.87)
Oct 28, 2025	2025 (Q3)	1.65 / 1.82	-1.69	207.69% (+3.51)
Jun 30, 2025	2025 (Q2)	1.67 / 0.78	1.92	-59.38% (-1.14)	―	―
Apr 29, 2025	2025 (Q1)	1.60 / 1.04	1.96	-46.94% (-0.92)
Feb 25, 2025	2024 (Q4)	1.74 / 2.62	0.18	1355.56% (+2.44)
Oct 29, 2024	2024 (Q3)	1.57 / -1.69	1.26	-234.13% (-2.95)
Jul 30, 2024	2024 (Q2)	1.58 / 1.92	1.02	88.24% (+0.90)
Apr 30, 2024	2024 (Q1)	1.76 / 1.96	0.72	172.22% (+1.24)
Feb 27, 2024	2023 (Q4)	0.94 / 0.18	-1.47	112.24% (+1.65)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AMT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 24, 2026	$190.05	$190.19	+0.07%
Oct 28, 2025	$187.90	$180.96	-3.69%
Jun 30, 2025	$213.80	$216.98	+1.49%
Apr 29, 2025	$205.81	$215.59	+4.75%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.