American Tower Corporation Reports Third Quarter 2026 Financial Results
American Tower reported Q3 2026 total revenue of $2,785 million, up 2.5% year-over-year, with property revenue up 4.5% to $2,734 million on 1.1% Organic Tenant Billings Growth and 16.3% cash revenue growth in Data Centers. AFFO attributable to common stockholders rose 2.4% to $1,335 million ($2.87 per share), while net income fell 14.4% to $781 million, pressured by $71.5 million of unrealized losses on equity investments and lower straight-line revenue. Management raised its full-year 2026 outlook for the third time this year, lifting the property revenue midpoint by $55 million on Data Centers outperformance and the AFFO-per-share midpoint by $0.02.
Key figures
- Eps
- 1.64
- Revenue
- $2,785 million
- Guidance
- FY2026: property revenue $10,785M-$10,865M (midpoint raised $55M), Adjusted EBITDA $7,248M-$7,303M (midpoint unchanged), AFFO $5,148M-$5,203M, AFFO per share $11.04-$11.16 (raised $0.02); net income midpoint lowered $30M
- Revenue Yoy
- 2.5%
- Affo
- $1,335 million (+2.4%)
- Net income
- $781 million (-14.4%)
- Q3 buybacks
- $315 million (~1.8M shares)
- Affo per share
- 2.87
- Free cash flow
- $986 million
- Adjusted ebitda
- $1,832 million (+0.9%)
- Total liquidity
- $10.6 billion
- Property revenue
- $2,734 million (+4.5%)
- Dividend per share
- 1.79
- Net leverage ratio
- 4.9x
- New buyback authorization
- $2.0 billion
- Organic tenant billings growth
- 1.1%
- Data centers cash revenue growth
- 16.3%
AI analysis
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