American Tower Q3: AFFO Up 2.4%, Outlook Raised Third Time, $2.0B Buyback Added
AMT sits 17% above its 52-week low of $160.06.
Summary
American Tower reported Q3 revenue of $2,785 million (+2.5%) and AFFO of $1,335 million (+2.4%), raised full-year property revenue guidance by $55 million and authorized an additional $2.0 billion of share repurchases.
Key Events · Earnings and Guidance · AMT
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Q3 Results: Revenue Up 2.5%, AFFO Up 2.4%
Total revenue rose 2.5% to $2,785 million and AFFO attributable to common stockholders rose 2.4% to $1,335 million, or $2.87 per share. Net income fell 14.4% to $781 million, driven largely by $71.5 million of unrealized equity investment losses versus a $10.9 million gain a year earlier.
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Outlook Raised for Third Time in 2026
Full-year property revenue midpoint rises $55 million to $10,785-$10,865 million on Data Centers outperformance, while net income guidance is cut $30 million for unrealized equity losses. AFFO per share midpoint rises $0.02 to $11.04-$11.16.
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Buyback Authorization Increased by $2.0 Billion
The board added $2.0 billion to the repurchase program on October 23, 2026, on top of about $1.1 billion remaining as of October 20. The company bought 1.8 million shares for $315 million in Q3 and another 0.4 million shares for $68 million through October 20.
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Canada Sale Set to Close in Q4
American Towers LLC agreed to sell 100% of its Canadian subsidiaries for about C$288 million (~$202 million), with closing expected in the fourth quarter of 2026 subject to customary conditions.
Analysis · AMT · Real Estate & Construction
Revenue grew 2.5% to $2,785 million and AFFO rose 2.4% to $1,335 million, but capital allocation is the bigger story: the board added $2.0 billion to the buyback on October 23, on top of roughly $1.1 billion left, and management raised the full-year outlook for the third time this year. Property revenue guidance went up $55 million at the midpoint on data-center strength, while net income guidance came down $30 million purely because of unrealized equity losses — an accounting swing, not an operating miss. Net leverage of 4.9x and $10.6 billion of liquidity keep the balance sheet comfortable, and the pending ~$202 million sale of the Canadian business continues the portfolio simplification.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 29.9% of the 1374 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AMT was trading at $187.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $87.7B. The 52-week trading range was $160.06 to $202.50. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.