--- canonical_url: https://www.stockexpertai.com/earnings/amt last_updated: 2026-05-04T10:45:35.816Z --- # American Tower Corporation (AMT) Q1 FY2027 Earnings Preview > This content was automatically generated with FMP live data + Q1 FY2026 earnings call transcript. Generated: 2026-05-04T10:45:34.713Z. Educational tool, not investment advice. --- ## Quick Summary | Field | Value | Source | |---|---|---| | Price | $181.61 (▼ -0.60%) | fmp:quote | | Market Cap | $84.6B | fmp:profile | | 52w range | $165.08 – $234.33 | fmp:quote | | Earnings | Tue 4 Aug | fmp:earnings-history | | EPS estimate | $1.56 (-40% YoY) | fmp:earnings-estimate | | Revenue estimate | $2.7B | fmp:earnings-estimate | | Beat streak | 3/4 | fmp:earnings-history | | Rating | B (overall 3/5) | fmp:ratings | | Analyst median target | $208 (+14.5% upside) | fmp:price-target-consensus | | MoonshotScore | 57/100 | derived | | Council | 3/6 bullish | derived | | Munger verdict | Fairly Valued | derived | ## American Tower Corporation — Q1 FY2027 Expectations Q1 consensus: revenue $2.7B^{[FMP est]}, EPS $1.56^{[FMP est]}. 3 consecutive quarters of beat^{[FMP earnings]}. ## Quick Take **Score:** B · **Stance:** HOLD · **Council:** 3/6 · **Moonshot:** 57 = MoonshotScore 57^{[9-pillar formula]} + Council 3/6^{[6-lens rule]}. Form 4: 0 transactions^{[FMP Form 4]}. ## Watchlist (5 metrics) ### 1. Capex Developed Markets American Tower expects to spend approximately 85% of its discretionary capital within its developed markets platforms. > "We continue to expect to spend approximately 85% of our discretionary capital within our developed markets platforms, including over $700 million in success-based investments in our data center portfolio to replenish elevated levels of capacity, purchases of land beneath our tower sites and continued acceleration in European new builds, with over 700 new sites planned." > — Rodney Smith, CFO, Risk Indicator · Q1 FY2026 ### 2. Organic Tenant Billings Growth American Tower expects approximately 4% organic tenant billings growth across its global tower portfolio. > "First, driving durable revenue growth, including approximately 4% organic tenant billings growth across our global tower portfolio, but adjusting for onetime disrelated impacts and double-digit growth from our data center business." > — Steven Vondran, CEO, Investor Focus · Q1 FY2026 ### 3. Data Center Growth Data center revenues at CoreSite grew approximately 17% driven by demand for hybrid and multi-cloud installations and accelerating AI-related use cases. > "This double-digit growth was driven by robust demand for hybrid and multi-cloud installations, accelerating AI-related use cases and an inflection in interconnection activity." > — Rodney Smith, CFO, Investor Focus · Q1 FY2026 ### 4. Fy26 Revenue Growth American Tower set its adjusted revenue growth outlook at approximately 5%. > "Normalized for the impact of onetime DISH-related churn, our outlook implies approximately 5% growth on a cash FX-neutral basis." > — Rodney Smith, CFO, Investor Focus · Q1 FY2026 ### 5. Dish Churn Impact American Tower stated that the higher churn in 2026 is driven by a combination of delayed churn initially expected in 2025 and accelerated churn initially expected in 2027. > "As discussed last quarter, the higher churn in 2026 is driven by a combination of delayed churn initially expected in 2025 and accelerated churn initially expected in 2027." > — Rodney Smith, CFO, Investor Focus · Q1 FY2026 ## MoonshotScore Pillars | Pillar | Score | Level | Evidence | |---|---|---|---| | Revenue Growth | 2.0 | weak | Q1 vs Q2: moderate growth (+4.2%) | | Gross Margin | 7.0 | strong | Q1: very high margin (73.9%, software/cloud territory) | | Operating Leverage | 4.0 | medium | op margin very strong (42.4%, scale leverage) | | Cash Runway | 10.0 | strong | FCF very strong ($1.0B, 2.1× CapEx) | | R&D Intensity | 3.0 | weak | low R&D investment (0.0%, weak innovation) | | Price Momentum | 7.0 | strong | RSI 55.1 positive momentum, 50d above | | News Sentiment | 7.0 | strong | strong buy consensus (72%) | **Formula:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula. ## Council (7-Lens) | Name | Stance | Context | |---|---|---| | Ray Dalio | bull | macro · target upside +14.5% | | Ken Griffin | bull | flow · 50d MA above | | Jim Simons | neutral | quant · RSI 55 | | Klarman | neutral | value · target upside +14.5% | | Buffett | bull | quality · ROE score 5/5 | | Munger | neutral | valuation · target upside +14.5% | **Formula:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr. ## Munger Lens - **Verdict:** Fairly Valued - **Financial Health:** Moderate - **Margin of Safety:** Moderate - **Interest Coverage:** Adequate - **ROIC vs WACC:** Healthy **Formula:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget. ## Technical Levels - **RSI(14):** 55.1 — yükselişte nötr — overbought sınırının altında, momentum pozitif - **50d MA:** $180 — hisse %0.8 üstünde — kısa vadeli destek - **200d MA:** $187 — hisse %3.0 altında — uzun vadeli baskı - **Volume (10d):** -34% ## Past Performance (4 Quarters) | Quarter | EPS Actual | EPS Estimate | Result | Reaction | |---|---|---|---|---| | Q2 FY25 | $2.60 | $2.60 | MISS | -2.8% | | Q3 FY25 | $2.78 | $2.62 | BEAT | -2.0% | | Q4 FY25 | $1.75 | $1.48 | BEAT | -4.1% | | Q1 FY26 | $1.84 | $1.60 | +15.0% EPS | -0.1% | Q1 (April 28, 2026): EPS $1.84 vs $1.60 est^[FMP], +15.0% beat. D+1 movement: -0.1%^{[FMP D+1]}. Decline despite beat — market reacted to guidance, not numbers. ## 3 Scenarios ### Scenario A · Beat **Q1 EPS > $1.56 + CapEx discipline** Threshold: EPS > $1.56^{[FMP est]}. Target: Break above median target $208^{[FMP target]}; high target $255^[FMP] upper bound. ### Scenario B · In-Line **EPS ≈ $1.56 + CapEx < $449.5M** Threshold: EPS ≈ $1.56^{[FMP est]}, Q1 CapEx < $449.5M^[FMP]. Target: Consolidation in the band between current $182^[FMP] and median $208^[FMP]. ### Scenario C · Miss **EPS < $1.51 or CapEx ≥ $449.5M** Threshold: EPS < $1.51^{[FMP est×0.97]}. Target: Current $182 below SMA200 $187^[FMP], if rejection continues, $159^[derived] support activates. ## Risk Notes ### Primary segment below threshold Q1: EPS $1.84 vs $1.60 beat^[FMP], stock -0.1% D+1^[FMP]. ### Backlog concentration No RPO/backlog concentration disclosed in Q1 earnings call. ### Insider trading Form 4 data is marked in the table — this page does not generate assumptions for this stock. | Executive | Action | Amount | Date | |---|---|---|---| **Net:** — (0 transactions · 0 sells · 0 buys) · Q1 FY26 ### CapEx shock Q1 CapEx $449.5M^{[FMP cashflow]}. Q1 op margin 42.4%^{[FMP op margin]} — this level in Q1 is sensitive to CapEx revision risk. ## Wall Street Consensus - **Median target:** $208 (+14.5% upside vs current $182) - **High / Low:** $255 / $185 - **Buy / Hold / Sell:** 18 / 7 / 0 - **Analyst count:** 4 (last quarter), 60 all-time ## Additional Transcript Insights ### 1. fy26_revenue_growth **Claim:** American Tower set its adjusted revenue growth outlook at approximately 5%. **Evidence (transcript):** "Normalized for the impact of onetime DISH-related churn, our outlook implies approximately 5% growth on a cash FX-neutral basis." **Numbers:** 5% ### 2. data_center_growth **Claim:** Data center revenues at CoreSite grew approximately 17% driven by demand for hybrid and multi-cloud installations and accelerating AI-related use cases. **Evidence (transcript):** "This double-digit growth was driven by robust demand for hybrid and multi-cloud installations, accelerating AI-related use cases and an inflection in interconnection activity." **Numbers:** 17% ### 3. organic_tenant_billings_growth **Claim:** American Tower expects approximately 4% organic tenant billings growth across its global tower portfolio. **Evidence (transcript):** "First, driving durable revenue growth, including approximately 4% organic tenant billings growth across our global tower portfolio, but adjusting for onetime disrelated impacts and double-digit growth from our data center business." **Numbers:** 4% ### 4. capital_allocation_strategy **Claim:** American Tower stated that its capital allocation framework remains unchanged and that after funding dividends, it will evaluate options including M&A, share repurchases, and deleveraging. **Evidence (transcript):** "Our capital allocation framework remains unchanged. After funding the dividend, we'll continue to evaluate a full range of options, including M&A, opportunistic share repurchases and further deleveraging, guided by a consistent mandate to generate durable cash flow growth and attractive long-term returns on invested capital." **Numbers:** — ### 5. capex_developed_markets **Claim:** American Tower expects to spend approximately 85% of its discretionary capital within its developed markets platforms. **Evidence (transcript):** "We continue to expect to spend approximately 85% of our discretionary capital within our developed markets platforms, including over $700 million in success-based investments in our data center portfolio to replenish elevated levels of capacity, purchases of land beneath our tower sites and continued acceleration in European new builds, with over 700 new sites planned." **Numbers:** 85%, 700 ### 6. dish_churn_impact **Claim:** American Tower stated that the higher churn in 2026 is driven by a combination of delayed churn initially expected in 2025 and accelerated churn initially expected in 2027. **Evidence (transcript):** "As discussed last quarter, the higher churn in 2026 is driven by a combination of delayed churn initially expected in 2025 and accelerated churn initially expected in 2027." **Numbers:** 2026, 2025, 2027 --- *Data source: FMP (live query, 2026-05-04), Q1 FY2026 earnings call transcript (Translated to EN with Gemini 2.0 Flash). Educational tool, not investment advice.*