Overview
- Q3 revenue rose to $2.72 billion versus $2.65 billion expected, EPS reached $2.78 versus $2.58 expected, and the adjusted EBITDA margin was 66.8%.
- Management pointed to strong 5G-related leasing and accelerating AI and hybrid‑cloud workloads in data centers, including a record quarter of signed retail new leasing.
- Full‑year guidance now calls for AFFO of $10.60–$10.72 per share and total property revenue of $10.21–$10.29 billion, with adjusted EBITDA guided to $7.06–$7.11 billion.
- Liquidity totaled about $10.7 billion at quarter‑end, Q3 capital spending was roughly $476 million, and full‑year capex is planned at $1.62–$1.73 billion.
- U.S. and Canada generated $1.32 billion in revenue while international markets delivered $1.03 billion, and a $1.70 dividend was paid on Oct. 20 as shares traded about 3% lower after the report.