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American Tower Corporation
AMT - NYSE - $172.54 ▲ +%0.78
-
Earnings
Tue 27 Oct
American opens the
books on Tuesday evening.
6 analysts' median target is $209[FMP target], stock is $173, +21.1% vs the analyst consensus median. After Q2 +18.5% EPS beat[FMP earnings], the stock moved +4.5%.
↓
summary below
Quick Take - in 40 seconds
B+
BUY
Council 2/6
-
Moonshot 54
B+ = MoonshotScore 54[multi-pillar formula] + Council 2/6[6-lens rule]. Global Towers guidance reduction from 12% -> 15-15%[Rodney Smith Q-prev transcript] and the current Form 4 signal (0 transactions)[FMP Form 4] prevented an A- grade.
Quick Answer
Q1 consensus: revenue $2.8B[FMP est], EPS $1.63[FMP est]. Rodney Smith lowered Global Towers guidance to 15-15% (previous 12%) in the Q2 earnings call[Rodney Smith Q-prev transcript]. 4 consecutive quarters of beat[FMP earnings].
$1.63
EPS Estimate
Last year $1.84 - -41% YoY YoY
15%
Global Towers Guidance
Previous quarter was 12%
4
Beat Streak
Expectations beaten consecutively for the last 4 quarters
Q2 EPS +18.5% beat[FMP] but the stock +4.5% D+1[FMP D+1].
Coresite Data Center Growth
coresite_data_center_growth
The CoreSite data center business continues to be the fastest-growing segment, exceeding expectations with a 15% revenue growth outlook, driven by record leasing performance and AI-driven demand.
"CoreSite remains the fastest-growing segment of our business, and this quarter delivered another record leasing performance reinforcing our conviction that 2026 has the potential to be another record year for the business. data center growth of approximately 15% year-over-year, which represents a significant acceleration versus our prior outlook of 13% growth."
- Steven Vondran - Q2 FY26 Earnings Call - July 28, 2026
Affo Per Share Growth
affo_per_share_growth
The company expects 2026 to be a trough for attributable AFFO per share growth, anticipating a meaningful inflection and return to long-term mid- to high single-digit expectations as headwinds ease into 2027.
"We believe this year represents a trough for attributable AFFO per share growth, as these headwinds ease heading into 2027, we're confident that we can deliver a meaningful inflection in growth and return to our long-term expectation of AFFO per share growth in the mid- to high single-digit range."
- Rodney Smith - Q2 FY26 Earnings Call - July 28, 2026
Tower Ebitda Margin
tower_ebitda_margin
The company aims to deliver an additional 200 to 300 basis points of Tower cash EBITDA margin expansion by 2030, driven by operational efficiency efforts.
"We continue to identify opportunities to operate our global portfolio more efficiently and we remain on track to deliver an additional 200 to 300 basis points of Tower cash EBITDA margin expansion by 2030."
- Steven Vondran - Q2 FY26 Earnings Call - July 28, 2026
Capital Allocation Focus
capital_allocation_focus
The company continues to focus its capital allocation strategy on developed markets and data centers, with approximately 85% of its nearly $1.9 billion capital program in 2026 directed towards these areas.
"In 2026, our growth capital plan remains consistent with our prior outlook. We continue to expect to spend approximately 85% of our discretionary capital within our developed markets platforms, including over $700 million to develop more capacity in our data center portfolio, approximately $370 million to construct new towers globally and approximately $210 million to purchase land beneath our towers."
- Rodney Smith - Q2 FY26 Earnings Call - July 28, 2026
800 megahertz
Investor Focus
New Spectrum Deployment
new_spectrum_deployment
The availability of approximately 800 megahertz of new mobile spectrum over the next few years, starting with the upper C-band in 2027, will be a meaningful source of growth for expanding network performance and capacity.
"With approximately 800 megahertz of new mobile spectrum expected to become available over the next few years, starting with the upper sea block in 2027 and operators will have new opportunities to expand network performance and capacity."
- Steven Vondran - Q2 FY26 Earnings Call - July 28, 2026
Stock Expert AI - Methodology
Do our scoring pillars, 7 perspectives, and Munger lens point in the same direction?
MoonshotScore
54 / 100
multi-pillar methodology. Gross Margin and Cash Runway strong. Revenue Growth weak.
How is it calculated? ->
Revenue Growth1.0
Q2 vs Q3: growth slowing (+1.2%, below threshold)
Gross Margin7.0
Q2: very high margin (73.0%, software/cloud territory)
Operating Leverage5.0
op margin very strong (46.2%, scale leverage)
Cash Runway10.0
FCF very strong ($1.2B, 3.6x CapEx)
R&D Intensity3.0
low R&D investment (0.0%, weak innovation)
Price Momentum4.0
RSI 51.6 balanced, 50d below
News Sentiment8.0
strong buy consensus (84%)
Council Score
2 / 6 Bullish
6 investor frameworks. 2 bullish (Ray Dalio, Buffett), 1 bearish (Ken Griffin), 3 neutral (Jim Simons, Klarman, Munger).
How is it calculated? ->
Ray Dalio macro - target upside +21.1%
Ken Griffin flow - 50d MA below
Jim Simons quant - RSI 52
Klarman value - target upside +21.1%
Buffett quality - ROE score 5/5
Munger valuation - target upside +21.1%
Munger's Mindset character & balance sheet lens
Fairly Valued
Quality business, trading at fair value.
How is it calculated? ->
Interest CoverageAdequate
Technical Levels - Pre-earnings positioning
What levels is the stock being tested at?
RSI(14)
51.6
RSI 51.6 balanced, 50d below
MACD
-1.50
price below 50d - resistance dominant
50d MA
$175
stock 1.5% below - short-term resistance
200d MA
$178
stock 3.3% below - long-term pressure
Volume (10d)
-58%
decrease - low participation
Resistance
$209
Analyst median target - upgrade trigger if broken
Current
$173
Pre-earnings position
Support
$152
Invalidation - close below this is a technical breakdown
Pattern
Range
$152-$209 band - earnings breakout/breakdown trigger
Past Performance
American's last 8 quarters: 4 consecutive beats.
BEAT
Q3 FY25
$2.78 vs $2.62 est - -2.0%
BEAT
Q4 FY25
$1.75 vs $1.48 est - -4.1%
BEAT
Q1 FY26
$1.84 vs $1.60 est - -0.1%
BEAT
Q2 FY26
$1.86 vs $1.57 est - +4.5%
Q2 (July 28, 2026): EPS $1.86 vs $1.57 est[FMP], +18.5% beat. D+1 movement: +4.5%[FMP D+1]. Decline despite beat - market reacted to guidance, not numbers.
Three scenarios: what could happen?
Global Towers below 35%
Q2: EPS $1.86 vs $1.57 beat[FMP], stock +4.5% D+1[FMP]. Rodney Smith Q2 transcript: "data center growth of approximately 15% year-over-year, which represents a significant acceleration versus our prior outlook of 13% growth."[Rodney Smith].
"data center growth of approximately 15% year-over-year, which represents a significant acceleration versus our prior outlook of 13% growth."
- Rodney Smith, CFO - Q2 FY26 Earnings Call - July 28, 2026
Backlog concentration
No RPO/backlog concentration disclosed in Q2 earnings call.
Insider trading signal
Form 4 data is marked in the table - this page does not generate assumptions for this stock.
Our FMP plan does not provide Form 4 insider feed for this stock. This page does not generate assumptions - SEC EDGAR Form 4 can be monitored directly.
CapEx shock
Q2 CapEx $320.9M[FMP cashflow]. Q2 op margin 46.2%[FMP op margin] - this level in Q1 is sensitive to CapEx revision risk.
"-"
- Rodney Smith, CFO - Q2 FY26 Earnings Call - July 28, 2026
Framework - Position discipline
After the data arrives: 3 scenarios, 3 windows
Not advice - a structural framework for earnings night. Decision discipline is yours.
Scenario A - Beat
Q1 EPS > $1.63 + Global Towers >= 15%
Threshold: EPS > $1.63[FMP est] and Global Towers >= 15%[Rodney Smith transcript].
Target: Break above median target $209[FMP target]; high target $240[FMP] upper bound.
Scenario B - In-Line
EPS approx $1.63 + Global Towers 15-15%
Threshold: EPS approx $1.63[FMP est], Global Towers 15-15%, Q1 CapEx < $320.9M[FMP].
Target: Consolidation in the band between current $173[FMP] and median $209[FMP].
Scenario C - Miss
EPS < $1.58 or Global Towers < 35% or CapEx >= $320.9M
Threshold: EPS < $1.58[FMP estx0.97] or Global Towers < 35%[Rodney Smith guidance lower minus 2].
Target: Current $173 below SMA200 $178[FMP], if rejection continues, $152[derived] support activates.
Sizing
Earnings volatility -> max portfolio 1-2%. Waiting for earnings is not a gamble, it's a position entrustment.
Timing
IV crush within 24 hours post-earnings. Waiting for premium decay makes options preferable to spot.
Staging
Don't go all-in at once, divide into 3: initial reaction, 24 hours later, after Friday's close.
Market Outlook
What do 6 analysts say?
Wall Street Consensus
$209
12-month median target price (+21.1% gap to the analyst consensus median)
Risk Management
$152
Invalidation level - critical support threshold
$175 - 50-day MA (below, -1.5%)
$178 - 200-day MA (below, -3.3%)
IV Crush risk (sudden drop in inflated option premiums before earnings): Option premiums are inflated before earnings.
Verdict - AMT Q1 FY27
B+
You read it in 5 minutes. When the numbers come out on Tuesday evening - you know what you're looking at.
Data arrives at night. The framework is ready now.
Data arrives on Tuesday evening. The framework is ready on this page: Q1 EPS threshold $1.63[FMP], Global Towers guidance 15-15%[Rodney Smith], CapEx threshold "below $320.9M". Three anchors, three scenarios.
Comparison
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Prices as of April 2026. Sources: seekingalpha.com/subscriptions - tipranks.com/pricing - trendspider.com/pricing
Stock Expert AI is free today — no credit card. Council 7-lens analysis + MoonshotScore multi-pillar + Insider tracker + Technical levels - all in one platform, for every stock.
Educational tool, not investment advice. Past performance does not guarantee future results.
Calendar
Catalyst Calendar - 90-day forward look
Oct 27, 2026EARNINGSQ1 FY27 results (after market close) + earnings call
Oct 28, 2026PRICEFirst trading day after earnings - 200dMA test + IV crush
Dec 11, 2026FILING10-Q deadline - segment breakdown + RPO detail (SEC rule: quarter-end + 45 days)
~Jan 27, 2027EARNINGSQ2 FY27 (next quarter, date not yet scheduled in FMP)
DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.
Frequently Asked Questions
What does the AMT earnings preview cover?
This American Tower Corporation (REI (AMT) earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.
What should investors watch for in AMT earnings?
American Tower Corporation (REI (AMT): Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.
Where do the numbers on this page come from?
American Tower Corporation (REI (AMT): Figures are sourced from Financial Modeling Prep (FMP) fundamentals and consensus data plus official earnings-call transcripts; derived metrics are labeled with their source next to each figure.
Is this a buy or sell recommendation?
American Tower Corporation (REI (AMT): No. This page is educational research, not investment advice. It summarizes analyst consensus and company data; consult a licensed financial advisor before making any investment decision.