American Tower stock raises 2026 outlook after Q3 revenue growth

American Tower reported third-quarter results on Tuesday, October 27, 2026, and raised its full-year outlook for the third time this year. The company said total revenue increased 2.5 percent year over year to USD 2.785 billion for the quarter ended September 30. The results and guidance were published by Morningstar, citing Business Wire.

Property revenue rose 4.5 percent to USD 2.734 billion. Organic tenant billings growth was 1.1 percent, while data center cash revenue increased 16.3 percent. The performance highlights the growing contribution from CoreSite, American Tower's data center business, as demand for connectivity and digital infrastructure supports leasing activity.

Data centers lift the forecast

American Tower raised the midpoint of its 2026 property-revenue outlook by USD 55 million. The revised range is USD 10.785 billion to USD 10.865 billion, implying midpoint growth of 5.0 percent from the prior year. Management attributed the increase primarily to outperformance in the Data Centers segment.

The company now expects 2026 Data Centers property revenue of USD 1.218 billion to USD 1.228 billion, equivalent to midpoint growth of 16.1 percent. The adjusted EBITDA outlook was unchanged at USD 7.248 billion to USD 7.303 billion, showing that the higher property-revenue forecast does not currently translate into a higher operating-profit target.

Management also raised its outlook for AFFO attributable to common stockholders per share to USD 11.04 to USD 11.16. The midpoint increased by USD 0.02, primarily because of capital allocation decisions. American Tower repurchased approximately 1.8 million shares for USD 315 million during the quarter, and its board later authorized an additional USD 2.0 billion for future repurchases.

Profit declines on investment effects

Net income fell 14.4 percent to USD 781 million, while net income attributable to common stockholders declined 10.3 percent to USD 766 million. The company said the comparison was affected by unrealized losses on equity investments in the current quarter versus unrealized gains a year earlier. Adjusted EBITDA increased 0.9 percent to USD 1.832 billion, and AFFO attributable to common stockholders rose 2.4 percent to USD 1.335 billion.

American Tower lowered the midpoint of its full-year net income outlook by USD 30 million and reduced the midpoint for net income attributable to common stockholders by the same amount, primarily because of unrealized losses on equity securities. Services revenue is expected to be about USD 220 million, reflecting the timing of customer projects, while the company kept its adjusted EBITDA range unchanged.

American Tower stock traded at 167.65 euros on Lang & Schwarz at 10:43 CET on Friday, October 30, 2026. The real-time quote of American Tower stock is available for investors tracking the European trading venue.

The broader US equity backdrop is covered in current market reports on the S&P 500.

Further earnings materials and investor updates are available in more news and analyses on American Tower stock.