American Tower beats first quarter 2026 estimates and raises full-year guidance despite slowing organic growth.

American Tower reported first quarter 2026 revenue of $2.74 billion and AFFO per share of $2.84, beating analyst expectations. The company raised its full-year 2026 guidance for property revenue and AFFO, citing favorable foreign exchange rates and accelerating straight-line revenue.

Key Highlights

• Consolidated Organic Tenant Billings Growth registered at 1.7%, slowing significantly and missing expectations, driven by weakness in the U.S. & Canada (0.6%) and a contraction in Latin America (-2.0%).
• The company raised its full-year 2026 outlook, increasing the midpoint for AFFO per share by $0.12 to a new range of $10.90 to $11.07.
• Total property revenue grew 7.3% year-over-year to $2.67 billion, while Adjusted EBITDA increased 5.2% to $1.84 billion.