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

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Earnings Data

Report Date

Aug 04, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

1.56

Last Year’s EPS

0.78

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 17 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 28, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a net positive outlook: management upgraded full-year guidance and highlighted strong CoreSite/data center momentum, solid regional growth in Africa/APAC and Europe, disciplined capital allocation (including meaningful share repurchases), and balance sheet strength. Material near-term headwinds include a one-time DISH-related churn impact, Latin America (Brazil) churn-driven weakness, a ~110bps margin decline in the quarter, and permitting/short-term volatility risks. Management emphasized that normalized metrics (excluding DISH and FX effects) show mid-single-digit AFFO per share growth and confidence in long-term secular tailwinds from mobile data, 5G/6G evolution and AI-driven demand.

Company Guidance

American Tower raised its full‑year outlook across key metrics: property revenue guidance was increased by about $145 million at the midpoint (roughly +1%), driven by an estimated $110 million FX tailwind and ~$35 million of accelerated noncash straight‑line revenue in Latin America, with the revised outlook implying ≈3% y/y property revenue growth ex noncash straight‑line and FX (≈5% cash FX‑neutral when normalized for one‑time DISH churn). Adjusted EBITDA guidance was raised by ~ $105 million at the midpoint (≈+1%), implying ≈2% y/y adjusted EBITDA growth ex straight‑line and FX (≈5% cash FX‑neutral ex DISH churn); Q1 cash adjusted EBITDA margins declined ~110 bps y/y and the company targets 200–300 bps of tower cash adjusted EBITDA margin expansion by 2030. Attributable AFFO per share guidance was raised by $0.12 to about $10.99 (≈+1% reported, ≈+2% y/y in the revised outlook; ≈+5% FX‑neutral when excluding one‑time DISH churn and refinancing costs); Q1 attributable AFFO per share was down ~1% ex FX (≈+4% FX‑neutral ex DISH and refi). Management reiterated organic tenant billings growth of ~1% (≈4% ex DISH churn), data‑center growth (~13% guidance; CoreSite cash revenue +17% in Q1 excl straight‑line), expectation that services growth and debt refinancings each represent ~100 bps headwinds to AFFO/share this year, a capital plan to deploy ~85% of discretionary capital in developed markets (including >$700M of success‑based data‑center investments), ~700+ new builds planned in Europe, >$565M of share repurchases since Q4 (≈$184M in Q1 + $19M through Apr 21), and a peer‑leading balance sheet (quarter‑end leverage ~4.9x and the highest credit rating in the peer group).

Raised Full-Year Outlook

Company raised full-year guidance: property revenue outlook increased by ~$145M at midpoint (~+1% to prior outlook), adjusted EBITDA outlook raised by ~$105M at midpoint (~+1%), and attributable AFFO outlook increased by $0.12 per share (~+1%). Management attributed upgrades primarily to favorable FX (~$110M) and accelerated noncash straight-line revenue (~$35M).

Consolidated Revenue and Organic Growth

Consolidated property revenue grew ~3% year-over-year excluding noncash straight-line and FX; normalized growth was ~5% on a cash FX-neutral basis after excluding one-time DISH churn. Consolidated organic tenant billings growth was ~2% (or ~4% excluding DISH churn).

Data Center (CoreSite) Outperformance

CoreSite cash property revenue grew ~17% in Q1 (excluding noncash straight-line) with management characterizing an inflection in interconnection activity. Company reiterated data center property revenue growth expectation of ~13% year-over-year and called CoreSite a differentiated, high-margin interconnection platform that is exceeding expectations.

Strong Regional Performance — Africa & APAC

Africa and APAC delivered robust organic growth of ~11% in Q1, representing one of the strongest regional contributions to consolidated organic tenant billings growth.

Europe Performing Above Expectations

Europe delivered ~4% organic growth in Q1 and remains above original underwriting for the Telefonica deal. Company plans >700 new site builds in Europe and expects new builds to deliver returns several hundred basis points above the region's WACC over time.

Operational Efficiency Progress and Margin Targets

Made progress reducing direct tower costs (land experience, maintenance, sourcing, internal tech). Company remains confident in delivering 200–300 basis points of cash adjusted EBITDA margin expansion in the tower business by 2030 and is evaluating AI to accelerate efficiency gains.

Disciplined Capital Allocation and Share Repurchases

Capital allocation focused on developed markets and CoreSite: ~85% of discretionary capital to developed platforms, >$700M planned for data center success-based investments, purchases of land under tower sites. Repurchased ~$184M of stock in Q1 plus ~$19M through April 21; total repurchases since Q4 exceed ~$565M.

Balance Sheet Strength and Development Pipeline

Management highlighted lowest leverage and highest credit rating among peers (ended quarter leverage ~4.9x), investment-grade balance sheet and flexibility. CoreSite development pipeline expanded: held development power ~287 MW (prior) and increased available development capacity by ~200 MW; continued land and power acquisitions.

American Tower (AMT) Earnings, Revenues Date & History

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AMT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 04, 2026	2026 (Q2)	1.56 / -	0.78	―	―	―
Apr 28, 2026	2026 (Q1)	1.60 / 1.84	1.04	76.92% (+0.80)
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)

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
Apr 28, 2026	$175.30	$178.40	+1.77%
Feb 24, 2026	$188.17	$188.31	+0.07%
Oct 28, 2025	$186.04	$179.17	-3.69%
Jun 30, 2025	$211.68	$214.83	+1.49%

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.