Q2 2026 American Tower Corp Earnings Call Transcript
Key Points
- American Tower Corp (AMT) reported strong leasing demand across its global tower portfolio, leading to a raised full-year outlook for the second time in 2026.
- The company is experiencing record leasing activity at CoreSite, its data center business, which is expected to grow revenue by approximately 15% this year.
- AMT's strategic focus on developed markets and higher quality earnings streams has led to the successful divestiture of operations in the Philippines and Bangladesh.
- Operational efficiency improvements have expanded tower cash EBITDA margins by over 300 basis points in the past three years, with further expansion expected by 2030.
- The company maintains a strong balance sheet with leverage within the targeted range of 3 to 5 times, providing flexibility for future investments and share repurchases.
- The company faces a headwind from DISH-related churn, impacting property revenue and adjusted EBITDA growth.
- Cash adjusted EBITDA margins declined approximately 40 basis points year over year, primarily due to DISH-related churn and SG&A timing.
- The refinancing of debt at higher interest rates is expected to be a 150 basis point headwind to attributable AFFO per share growth in 2026.
- Organic growth in Latin America declined over 2% due to elevated churn in Brazil, although market repair is expected in 2027.
- The services business is expected to represent a 100 basis point headwind to attributable AFFO per share growth this year.
Ladies and gentlemen, thank you for standing by. Welcome to the American Tower second-quarter 2026 earnings conference call. As a reminder, today's conference call is being recorded. Following the prepared remarks, we will open the call for questions. (Operator Instructions).
I would now like to hand the conference over to your host, Spencer Kurn, Senior Vice President of Investor Relations. Please go ahead.
Thank you, and good morning. Welcome to our second-quarter 2026 earnings call. I'm Spencer Kurn, Head of Investor Relations for American Tower. Joining me on the call today are Steve Vondran, our President and CEO; and Rod Smith, our Executive Vice President, CFO and Treasurer. Following our prepared remarks, we will open the call for your questions.
Before we begin, I need to call your attention to our Safe Harbor statement. It says that some of our comments today may be forward-looking. As such, they are subject to risks and uncertainties
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
