American Tower Q1 revenue beats estimates, helped by mobile data, AI demand

American Tower

28/04/2026 12:11

Overview

Communications real estate REIT's Q1 revenue rose 6.8%, beating analyst expectations

Adjusted EBITDA for Q1 beat consensus, up 5.2% year-over-year

Company repurchased $184 mln of shares during Q1

Outlook

American Tower raises 2026 property revenue outlook midpoint to $10.66 bln from prior view

Company now sees 2026 Adjusted EBITDA of $7.23 bln at midpoint, up from previous forecast

American Tower expects 2026 AFFO per share of $10.99 at midpoint, reflecting higher guidance

Result Drivers

MOBILE DATA AND AI DEMAND - Co said rising mobile data usage, cloud adoption, and AI-driven workloads supported demand for its digital infrastructure

FOREIGN CURRENCY GAINS - Net income growth rates were significantly impacted by foreign currency gains in Q1 2026 versus losses in the prior-year period

PRIOR-YEAR ONE-TIME GAIN - Comparison to prior-year net income affected by a $53.6 mln gain on sale of South Africa fiber assets in Q1 2025

Company press release: ID:nBw4c1C5Ma

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$2.74 bln
$2.66 bln (16 Analysts)
Q1 EPS
$1.84
Q1 Net Income
$879 mln
Q1 Adjusted EBITDA
Beat
$1.84 bln
$1.77 bln (15 Analysts)
Q1 Adjusted FFO Per Share
$2.84


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for American Tower Corp is $210.00, about 19.8% above its April 27 closing price of $175.30

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 25 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)