← Отчётные звонки
AMT FY2026 Q2 Улучшается

Отчётный звонок American Tower Corporation (REIT)

Jul 28, 2026 · 08:30 ET Rod SmithSpencer KernSteve Vondran earningscall_biz
Вывод Buzzberg

Guidance raised second time this year across all key metrics

American Tower reported strong Q2 2026 results with record leasing at CoreSite and raised full-year guidance across all key metrics for the second time. Management emphasized a strengthening demand outlook driven by 5G densification, new spectrum, and AI applications. The company also completed its exit from APAC, selling Philippines and Bangladesh operations to focus on developed markets. Raised FY2026 revenue outlook by $110M midpoint, EBITDA by $45M, and AFFO per share by $0.09.

Вывод Buzzberg Guidance raised second time this year across all key metrics American Tower reported strong Q2 2026 results with record leasing at CoreSite and raised full-year guidance across all key metrics for the second time. Management emphasized a strengthening demand outlook driven by 5G densification, new spectrum, and AI applications. The company also completed its exit from APAC, selling Philippines and Bangladesh operations to focus on developed markets. Raised FY2026 revenue outlook by $110M midpoint, EBITDA by $45M, and AFFO per share by $0.09. Читать полный анализСвернуть анализ

American Tower reported strong Q2 2026 results with record leasing at CoreSite and raised full-year guidance across all key metrics for the second time. Management emphasized a strengthening demand outlook driven by 5G densification, new spectrum, and AI applications. The company also completed its exit from APAC, selling Philippines and Bangladesh operations to focus on developed markets. Raised FY2026 revenue outlook by $110M midpoint, EBITDA by $45M, and AFFO per share by $0.09.

  • Data center segment is outperforming with raised revenue growth guidance to ~15% for 2026.
  • Completed divestitures of Philippines and Bangladesh, exiting APAC region to focus on developed markets.
  • Company expects 2026 to be a trough for AFFO per share growth with an inflection to mid-high single-digit growth in 2027.
DATA_CENTER Рост выручки12%Факт
Выручка$2.7491B+0% к/к
EPS$1.86+6% к/к
Валовая маржа73.03%Факт
6 подтверждённых тезисов

Что важно сейчас

Самые значимые изменения по итогам звонка.

01
Guidance

Guidance raised second time this year across all key metrics

02
Demand

Four catalysts expected to drive network investment into next decade

03
Demand

CoreSite added more new leasing than full-year 2021

Показать ещё 3 тезиса
04
AI

AI applications shift traffic to bidirectional, requiring more capacity

05
Guidance

Data center growth outlook raised to ~15% for 2026

06
Outlook

AFFO growth expected to trough in 2026, inflect in 2027

Отчётный период

Фактические результаты

ПоказательФактИзменение
DATA_CENTER Рост выручки12%Факт
Выручка$2.7491B+0% к/к
EPS$1.86+6% к/к
Валовая маржа73.03%Факт
Операционная маржа46.15%Факт
Свободный денежный поток$1.1659B+23% к/к
Прогнозные данные

Прогноз компании

ПоказательПериодДиапазонСерединаСтатус
ВыручкаDATA_CENTERFY202615%15%Повышен
AI, капзатраты и спрос

Оценка менеджмента

Тон

Confident

Management expressed strong conviction in demand drivers, raised guidance for the second time, and detailed multiple growth catalysts, projecting a return to mid-to-high single-digit AFFO growth in 2027.

AI

Оценка AI от менеджмента

Management highlighted AI as a major growth catalyst, citing AI-driven workloads accelerating demand for data center capacity, with CoreSite adding record leasing and hosting nine of top 10 AI companies. They also noted AI applications are shifting traffic patterns to be more persistent, data-intensive, and bidirectional, which may require additional network infrastructure investment beyond curren

Капзатраты

Инвестиции и мощности

Management maintained 2026 growth capital plan, allocating ~85% to developed markets, including over $700 million for data center capacity expansion, ~$370 million for new towers globally, and ~$210 million for land purchases. They also allocated over $230 million year-to-date to acquisitions and over $200 million to share repurchases.

все упомянутые компании ниже: 1

Компаниис момента звонка

Клиенты

DISH
Клиенты

One-time DISH-related churn is presenting a headwind to reported growth, though the company is guiding to normalized growth that excludes this impact.

Доказательства
“Normalized for the impact of one-time dish churn, property revenue grew over 7% on a cash FX neutral basis”
Rod Smith
Внешние сигналы

Альфа цепочки поставок · 2с момента звонка

A1

AI-enabled applications are contributing to uplink traffic growth rates that in many cases exceed downlink growth by more than 50%, a structural shift from the historically download-centric network design.

Steve Vondran
AMT+1.4%
Доказательства
“AI-enabled applications are already contributing to uplink traffic growth rates that in many cases exceed downlink traffic growth by more than 50%”
A2

CoreSite added more new leasing business in Q2 2026 than in all of 2021, and the company is evaluating opportunities to expand its development pipeline beyond current plans to nearly triple capacity.

Steve Vondran
AMT+1.4%
Доказательства
“we added more new business this quarter than we did for the entire year of 2021”
Методология и полнота

Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 1. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.