Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when AMT files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsAmerican Tower reports 4.7% revenue growth, raises full-year outlook on FX tailwinds
Filed July 28, 2026 · Period ending July 28, 2026 · ~1 min read
Key Changes
-
high
Q2 revenue rose 4.7% to $2.7B with property revenue up 6.3%; net income surged 133% to $888M driven by $42M FX gain vs. $484M prior-year loss; AFFO per share grew 3.8% to $2.71
Exhibit 99.1 view on EDGAR → -
high
Raised full-year outlook: property revenue midpoint up $110M, AFFO per share up $0.09 to $11.00–$11.17 range, reflecting favorable FX ($35M revenue, $22M EBITDA), data center outperformance, and one-time expense benefits
Exhibit 99.1 view on EDGAR → -
medium
Completed Philippines exit for $75.6M and Bangladesh controlling-interest sale for $6.9M in June, generating combined $20.4M net gain and reducing international footprint
Exhibit 99.1 view on EDGAR → -
medium
Refinanced debt: repaid $700M and €500M maturing notes, issued €750M 4.000% notes due 2033 (~$872M), partially redeemed €250M of 4.125% 2027 notes; net leverage 4.9x
Exhibit 99.1 view on EDGAR → -
medium
Declared $1.79 quarterly distribution (5.3% year-over-year growth, $834M total) and repurchased 0.1M shares for $19M during the quarter
Exhibit 99.1 view on EDGAR →
Summary
American Tower delivered solid second-quarter results with revenue growth of 4.7% and raised its full-year outlook for the second time in 2026. The headline story is favorable foreign currency movements—a $42 million FX gain this quarter versus a $484 million loss in the prior year—which drove the 133% surge in net income and contributed to the upward revision in full-year guidance.
The company now expects property revenue of $10.7B to $10.8B (4.5% growth) and AFFO per share of $11.00 to $11.17 (3.0% growth), with the midpoint increases reflecting $35 million in FX tailwinds, data center segment strength, and one-time expense benefits.
The quarter also saw American Tower exit two smaller international markets, selling its Philippines subsidiary for $75.6 million and its Bangladesh controlling interest for $6.9 million, generating a combined $20.4 million gain. On the capital side, the company refinanced maturing debt by issuing €750 million in new 4.000% notes due 2033 and partially redeeming higher-coupon 2027 notes, maintaining a net leverage ratio of 4.9x. The 5.3% distribution increase and modest share buyback activity underscore steady capital allocation. For holders, the raised outlook and FX-driven earnings improvement are positives, though the underlying operational growth (property revenue up 6.3%, AFFO per share up 3.8%) remains modest and the company's leverage profile warrants continued monitoring.
Section-by-Section Diff
Event · Exhibit 99.1
American Tower reported Q2 2026 results with 4.7% revenue growth, raised full-year outlook, completed Philippines and Bangladesh divestitures, and refinanced debt.
Added in current filing · view on EDGAR →
Total revenue increased 4.7% to $2,749 million ... Total property revenue increased 6.3% to $2,688 million ... Net income increased 133.2% to $888 million ... Adjusted EBITDA increased 3.2% to $1,808 million ... Net income attributable to AMT common stockholders increased 136.5% to $868 million ... AFFO attributable to AMT common stockholders increased 3.8% to $1,264 million
American Tower reported second quarter 2026 results showing total revenue growth of 4.7% to $2,749 million and property revenue growth of 6.3% to $2,688 million. Net income surged 133.2% to $888 million, driven by foreign currency gains of approximately $42.1 million in the current period compared to losses of $484.0 million in the prior year. Adjusted EBITDA grew 3.2% to $1,808 million, while AFFO attributable to common stockholders increased 3.8% to $1,264 million, or $2.71 per share.
Added in current filing · view on EDGAR →
As a result of the estimated positive foreign currency exchange rate fluctuations described above, Data Center outperformance and one-time expense benefits, the Company is raising the midpoints of its full year 2026 outlook for property revenue, Adjusted EBITDA, AFFO attributable to AMT common stockholders and AFFO attributable to AMT common stockholders per Share by $110 million, $45 million, $45 million and $0.09, respectively.
American Tower raised its full-year 2026 guidance for the second time this year, increasing the midpoint for property revenue by $110 million, Adjusted EBITDA by $45 million, and AFFO per share by $0.09. The increases reflect favorable foreign currency movements (estimated $35 million revenue impact, $22 million EBITDA impact), data center segment outperformance, and one-time expense benefits. The new full-year outlook calls for property revenue of $10,695 to $10,845 million (4.5% growth), Adjusted EBITDA of $7,240 to $7,310 million (2.0% growth), and AFFO per share of $11.00 to $11.17 (3.0% growth).
Added in current filing · view on EDGAR →
On April 14, 2026, the Company repaid $700.0 million aggregate principal amount of its 1.600% senior unsecured notes due April 15, 2026 upon their maturity. ... On May 21, 2026, the Company repaid €500.0 million aggregate principal amount of its 1.950% senior unsecured notes due May 22, 2026 upon their maturity.
On May 27, 2026, the Company issued €750.0 million (approximately $872.0 million at the date of issuance) aggregate principal amount of 4.000% senior unsecured notes due 2033. ... On June 18, 2026, the Company redeemed €250.0 million of its 4.125% senior unsecured notes due May 16, 2027 (the “4.125% Notes”). Upon completion of this partial redemption, €350.0 million aggregate principal amount of the 4.125% Notes remain outstanding.
American Tower executed multiple debt transactions during the quarter: repaid $700 million of maturing 1.600% notes in April, repaid €500 million of maturing 1.950% notes in May, issued €750 million of new 4.000% notes due 2033 in May (approximately $872 million), and partially redeemed €250 million of its 4.125% notes due 2027 in June. The company also amended its credit facilities in May to extend maturity dates and add limited conditionality provisions for up to $5 billion in acquisition-related borrowings. Net leverage ratio stood at 4.9x as of quarter-end.
Added in current filing · view on EDGAR →
Distributions per share $ 1.79 ... Aggregate amount (in millions) $ 834.1 ... Year-over-year per share growth 5.3 % ... During the second quarter of 2026, the Company repurchased a total of approximately 0.1 million shares of its common stock for an aggregate of approximately $19 million, including commissions and fees.
American Tower declared a quarterly distribution of $1.79 per share (totaling $834.1 million), representing 5.3% year-over-year growth. The company also repurchased approximately 0.1 million shares for $19 million during the quarter. Total capital expenditures were $329 million, including $47 million for non-discretionary improvements and corporate capex.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 29, 2026 · How we verify