American Tower Reports Q3 2026 Results, Raises Full-Year Outlook

On October 27, 2026, American Tower Corporation reported financial results for the quarter ended September 30, 2026. Total revenue for the third quarter increased 2.5% to $2,785 million. Total property revenue increased 4.5% to $2,734 million, driven by 1.1% organic tenant billings growth and 16.3% cash revenue growth in the Data Centers segment.

Net income for the quarter decreased 14.4% to $781 million, while net income attributable to AMT common stockholders decreased 10.3% to $766 million. Adjusted EBITDA increased 0.9% to $1,832 million, and AFFO attributable to AMT common stockholders increased 2.4% to $1,335 million.

During the quarter, the company allocated $315 million to share repurchases. Subsequent to the quarter end, the Board of Directors authorized an additional $2.0 billion for future repurchases. As of October 20, 2026, the company had approximately $1.1 billion remaining under its stock repurchase program.

The company also announced a divestiture agreement to sell 100% of its ownership interests in its Canadian subsidiaries for approximately 288 million Canadian Dollars (approximately $202 million), with completion expected in the fourth quarter of 2026.

Regarding leverage, the company reported a Net Leverage Ratio of 4.9x net debt to third quarter annualized Adjusted EBITDA as of September 30, 2026. Total liquidity stood at approximately $10.6 billion, consisting of approximately $1.9 billion in cash and cash equivalents plus the ability to borrow approximately $8.7 billion under revolving credit facilities.

The company raised its full-year 2026 outlook, reflecting consistent growth across its global tower portfolio and Data Centers outperformance. The midpoint of full-year 2026 property revenue is now estimated to be $10,865 million, up from the previous outlook. The company maintained its prior outlook midpoint for Adjusted EBITDA at $7,303 million. The outlook for net income and net income attributable to AMT common stockholders was lowered by $30 million each, primarily due to unrealized losses on equity securities.