American Tower Reports Strong Quarterly Earnings Exceeding Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 24 2026
0mins
Source: Benzinga
- Quarterly Earnings Growth: American Tower reported earnings per share of $2.63 for the quarter, surpassing analysts' expectations of $2.53 and reflecting a 13.4% year-over-year increase, indicating sustained profitability.
- Revenue Exceeds Expectations: The company achieved a 7.5% year-over-year revenue growth to $2.74 billion, exceeding the forecast of $2.69 billion, demonstrating strong market demand, particularly in 5G and data center operations.
- Strong Regional Performance: Revenue from the U.S. and Canada reached $1.33 billion with a 79% operating profit margin; Latin America and Africa/Asia-Pacific also performed well, generating $438 million and $382 million respectively, showcasing robust performance across diverse markets.
- 2026 Outlook: The company anticipates adjusted funds from operations of $10.78 to $10.95 per share in 2026, below analyst expectations, yet projects total property revenue to grow by about 2%, reflecting confidence in future growth despite challenges.
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Analyst Views on AMT
Wall Street analysts forecast AMT stock price to rise
11 Analyst Rating
7 Buy
4 Hold
0 Sell
Moderate Buy
Current: 175.590
Low
185.00
Averages
211.45
High
254.00
Current: 175.590
Low
185.00
Averages
211.45
High
254.00
About AMT
American Tower Corporation is a global real estate investment trust (REIT) and an independent owner, operator and developer of multitenant communications real estate with a portfolio of nearly 150,000 communications sites and a highly interconnected footprint of United States data center facilities. The Company's segments include U.S. & Canada property, Africa & APAC property, Europe property, Latin America property, Data Centers and Services. Its primary business is leasing space on multitenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. The Company's Data Centers segment relates to data center facilities and related assets that it owns and operates in the United States. Its Services segment offers tower-related services in the United States, including AZP, structural and mount analyses, and construction management services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Customer Dependency Risks: Major clients for American Tower include T-Mobile (18%), AT&T (17%), Verizon Wireless (14%), and Telefónica (10%), leading to a high reliance on a few carriers, which increases business risk.
- Crown Castle's Financial Position: Crown Castle's revenue for FY 2025 was nearly $4.3 billion, down 35.1% from the previous year, yet it reported a net income of approximately $444 million, indicating recovery potential after significant strategic adjustments.
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See More
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- Domestic Focus of Crown Castle: Crown Castle operates approximately 40,000 cell towers in the U.S., with FY 2025 revenue nearing $4.3 billion, despite a 35.1% decline from the previous year, it reported a net income of about $444 million, indicating its potential recovery in the domestic 5G market.
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- Financial Health Comparison: As of December 2025, American Tower's debt-to-equity ratio stood at 12.3x with a current ratio of 0.6x, indicating short-term liability pressure, whereas Crown Castle's debt-to-equity ratio was -18.1x with a current ratio of 0.3x, reflecting tight liquidity and challenges from ongoing legal disputes.
See More
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- Diageo Upgrade: TD Cowen upgraded Diageo from hold to buy, citing valuation dislocation as an attractive entry point, with CEO-led cost cuts and reinvestment expected to restore growth and enhance commercial execution.
- James Hardie Initiation: Stephens initiated coverage of James Hardie with an overweight rating and a $31 price target, highlighting its status as a high-quality company and its position as the second-largest composite decking manufacturer following its merger with AZEK.
- Nike Downgrade: KeyBanc downgraded Nike from overweight to sector weight, indicating that the turnaround is taking longer than anticipated, with slight reductions in FY27 estimates reflecting higher-than-expected headwinds in China and EMEA.
- American Tower Upgrade: RBC upgraded American Tower from sector perform to outperform, noting superior organic revenue growth compared to peers, despite rising interest rate pressures, indicating strong market potential.
See More
AmeriTrust Annual General Meeting Voting Results Announced
- Board Composition: Shareholders voted to set the number of directors at five, electing Jeff A. Morgan, J. Bryan Hunt Jr., Shibu Abraham, Steven Lee, and Kris Gaerlan, which ensures stability and diversity in the company's governance structure.
- Auditor Appointment: HDCPA Professional Corporation has been appointed as the company's auditor, aimed at enhancing financial transparency and compliance, thereby boosting investor confidence and supporting long-term growth.
- Incentive Plan Approval: The 2026 Incentive Stock Option Plan was approved, allowing for the issuance of up to 203,433,224 common shares, designed to attract and retain key talent, driving growth in the competitive automotive finance market.
- Share Consolidation Authorization: Shareholders approved a special resolution granting directors the authority to consolidate shares within 12 months at a ratio of up to 20 pre-consolidation shares for one post-consolidation share, aimed at optimizing capital structure and enhancing earnings per share.
See More
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- Dividend Stock Discounts: Despite the S&P 500 trading near all-time highs, dividend stocks are significantly undervalued, particularly international dividend stocks, which currently offer relatively high yields, making them attractive for long-term investors.
- Vanguard International High Dividend ETF: This ETF tracks approximately 1,580 dividend stocks from developed and emerging markets, boasting a 3.9% dividend yield and a low expense ratio of 0.07%, meaning only $7 in fees for every $10,000 invested, ideal for income-focused investors.
- Valuation Advantage: The average P/E ratio of stocks in the Vanguard International High Dividend ETF is 14, significantly lower than the 22 P/E of U.S. high-dividend stocks and the S&P 500's 28 P/E, highlighting its investment value in the current market.
- REIT Investment Opportunities: The Vanguard Real Estate ETF offers a dividend yield of about 4%, with its U.S.-based REITs remaining attractive in a high-rate environment, and its dividend has grown at an annualized rate of 6.5% over the past three years, providing a steady income stream for investors.
See More
Investment Choices in Telecommunications Infrastructure Amid 5G Expansion
- American Tower's Global Footprint: American Tower manages nearly 150,000 communication sites across over 20 countries, with FY 2025 revenue of approximately $10.6 billion, reflecting a 5.1% year-over-year growth that underscores its significance and stability in global telecommunications infrastructure.
- Crown Castle's Domestic Focus: Crown Castle operates approximately 40,000 cell towers in the U.S., generating nearly $4.3 billion in revenue for FY 2025, despite a 35.1% year-over-year decline, yet it reported a net income of $444 million, indicating potential in the domestic 5G market.
- Risk Concentration Analysis: Both American Tower and Crown Castle face customer concentration risks, with major clients contributing over 10% of revenue for American Tower and three largest clients accounting for 90% of Crown Castle's revenue, making both companies vulnerable to market fluctuations.
- Financial Health Comparison: American Tower's debt-to-equity ratio stands at 12.3x, indicating financial leverage, while Crown Castle's ratio is -18.1x, suggesting tight liquidity, prompting investors to carefully assess each company's financial health.
See More
Investment Comparison: American Tower vs. Crown Castle
- Revenue and Growth: American Tower reported approximately $10.6 billion in revenue for FY 2025, reflecting a 5.1% increase, which underscores its stability in the global telecommunications infrastructure despite facing customer concentration risks.
- Customer Dependency Risks: Major clients for American Tower include T-Mobile (18%), AT&T (17%), Verizon Wireless (14%), and Telefónica (10%), leading to a high reliance on a few carriers, which increases business risk.
- Crown Castle's Financial Position: Crown Castle's revenue for FY 2025 was nearly $4.3 billion, down 35.1% from the previous year, yet it reported a net income of approximately $444 million, indicating recovery potential after significant strategic adjustments.
- Market Competition and Risks: Both companies face competition from other tower owners and emerging technologies, particularly Crown Castle's challenges in the rollout of 5G, which may impact their future market share and profitability.
See More
Investment Comparison: American Tower vs. Crown Castle
- Global Footprint of American Tower: American Tower manages nearly 150,000 communication sites across over 20 countries, achieving approximately $10.6 billion in revenue for FY 2025, reflecting a 5.1% year-over-year growth that underscores its stability and the advantages of long-term lease contracts in the wireless infrastructure sector.
- Domestic Focus of Crown Castle: Crown Castle operates approximately 40,000 cell towers in the U.S., with FY 2025 revenue nearing $4.3 billion, despite a 35.1% decline from the previous year, it reported a net income of about $444 million, indicating its potential recovery in the domestic 5G market.
- Risk Concentration Analysis: Both American Tower and Crown Castle exhibit high revenue dependence on major clients like T-Mobile, AT&T, and Verizon, with American Tower facing significant risks from customer concentration, while Crown Castle's 90% revenue reliance on these three carriers highlights a similar vulnerability.
- Financial Health Comparison: As of December 2025, American Tower's debt-to-equity ratio stood at 12.3x with a current ratio of 0.6x, indicating short-term liability pressure, whereas Crown Castle's debt-to-equity ratio was -18.1x with a current ratio of 0.3x, reflecting tight liquidity and challenges from ongoing legal disputes.
See More
