American Tower raises annual forecast on strong leasing demand, cloud adoption
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E-mailApril 28 (Reuters) - American Tower on Tuesday raised its forecasts for full-year 2026 after posting strong first-quarter results, helped by strong leasing demand from telecom firms, expanding mobile data consumption and cloud adoption.
U.S. wireless operators are ramping up infrastructure investments to expand network capacity and meet the surging demand for high-speed internet services.
"The structural growth drivers of our business continue to strengthen, with rising mobile data consumption, accelerating cloud adoption and the rapid expansion of AI-driven workloads all pointing toward sustained investment in high-quality digital infrastructure," said CEO Steve Vondran.
• American Tower, which operates and develops wireless and broadcast communications infrastructure, leases space to wireless service providers, along with radio and television broadcasters.
• The company posted revenue of $2.74 billion for the quarter ended March 31, compared with analysts' estimate of $2.66 billion, according to data compiled by LSEG.
• American Tower EPS was $1.84, vs estimates of $1.60.
• It expects full-year total property revenue between $10.59 billion and $10.74 billion, up from its prior forecast of $10.44 billion to $10.59 billion.
• The company also expects adjusted funds from operations (AFFO) per share attributable to its common stockholders between $10.90 to $11.07, up from its prior view of $10.78 to $10.95
• The major customers of American Tower include telecom giants AT&T, Verizon, and T-Mobile, which together have contributed a significant portion to its property segment in the past.
• Revenue from the property segment, which includes the core site-leasing business, rose 7.3% to $2.67 billion in the quarter.
(Reporting by Arunesh Sinha; Editing by Shailesh Kuber)
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