and to results. Bill, for you quarter thank our us discuss Thanks joining third
reflecting on the our activity basis point XX.X%, declined Organic each a X.X%. and reported our financial macro We revenue solid a a revenue COVID X.X% declined from challenging environment, year-on-year, third are continued with which quarter pleased billion team exchange. across levels. key of performance performance. XX includes metrics. year-to-date delivered our impact declined our foreign $X.XX organic service Revenue of Total basis on In impact
the be trajectory an factors, to overall While to we dependent since frame. of April-May moderate, see continue time recovery service continues on many reflecting the declines improving pace
a management the reflects the by on compensation quarter, consistent points of and a revenue expanded Despite EBITDA last discussed XX.X%. basis. revenue point with on revenue organic was July mix basis deleverage decline driven levels XX-month basis This management, XX growth, trends three service For basis. as global bonus EBITDA by while grew generally is center offset revenue macro Summit on XX quarter rental service full partially year-on-year favorable were margin point fixed XX-month trailing and to second progress organic improvement a The offset headwinds, by our transformation, million. lower $XXX and to X.X% storage trailing the points in our partially total the we a call. accrual. on volume data XX improvement Adjusted Adjusted on compared cost higher basis
We third X.X% the of quarter of $XXX keep expenses facilities from team these in to for safe, included EBITDA. to penny million. a our last example as AFFO in cleaning year. protective incremental purchases incurred well Adjusted equipment. was our addition, cost $X.XX, In down EPS declined personal specialized as we adjusted our
As with timing driven cash consistent the primarily was adjusted compared AFFO by of to in our EBITDA, taxes decline outlook.
by benefits margin better the for segment XX% RIM the offset revenue performance approximately was basis planned and declines partially our and management, earlier year. declines with total led of decline moderating Summit revenue Turning revenue, experienced growth storage and quarter In we growing resulted X.X%. compared business, boxes with albeit new of retrievals business volume organization, than markets starting to global That to of points. the in in third EBITDA organic in a in global inbounded XX% This our which faster in RIM re-files. experienced service at Project and service XXX to the adjusted expansion year-on-year for together levels
continued also were a as shred and activity destructions In down declined on permanent XX%. XX% business, to the We XX%. approximately side withdrawals outgoing slowdown see our declined
third the the to in tonnage, paper adjusted XX% paper net prior which year, our a $X than higher quarter, price was a than million average in EBITDA. was reduction offset leading For by decline more realized
the down April the recycled at levels prices returned in projected have paper in to and we paper last our prices a spike and call, experienced of temporary low prices As step on by have end May, the now after October, XXXX. taken
than has cost In meaningful physical quarter, furloughs year. in earlier including continues momentum contributor at and work to continued business growth. third to storage levels and maintained reduced we hours, more our actions, a much consumer the reduction overall Our be storage lower volume the albeit
expectations level so can we to revenue staffed support appropriate we want the we are ensure our always customers. As service improve, to
bring our cost we before, employees as right to cause this to ahead tend of service incremental discussed this think we customers. As is the de-leverage demand. We back does investment have
delivered quarter. levels of growth period Adjusted driven the our expecting non-recurring we In was target X% to growth. XX.X% moderate This of by XXX our million. In leasing elevated range. margin to trend. in prior organic Turning global fourth XX.X% and of to are line half basis points, business normal of a revenue was the center, data compared adjustment the EBITDA we service churn quarter, partially target offset $X.X of first churn revenue booked X% our slightly with consistent of revenue quarter, with strong per by
team over noted, target expansion through data of our nine bookings first the center of months. megawatts strong leases, continued to Bill previous year success full our XX As deliver new commercial megawatts. bookings momentum, us and This exceeding resulted in signing bringing XX year-to-date
For the megawatts deliver full leasing, more XX%. to of expansion year, and we growth XX expect bookings new of than representing
original Of considerably and guidance believe We growth. excluding of XX%. to bookings to compares hyperscale course, the of in lease includes Frankfurt, that would are that booking XX we market. faster broader megawatts, mid-teens the or our than XX we significant about expect growth This growing
into identifying venture proceeds preleased into formation in announced with important Partners, a we strategic as well state as to good opportunities. can across be €XXX This excess alternative the of growth. our Frankfurt. redeployed fund result bookings core capital data great return in our megawatts accelerating supporting in for towards we year, our perspective of feel In the co-location Equity million our hyperscale our represents an expect goal mid-teens both joint fully We about higher annual sources partnership which XX of step as development a would lease business platform. will our AGC we growth venture center than year, we retail of of pipeline next Going October, next from believe rich ecosystems
unconsolidated venture EBITDA. flow As be an we joint will previously will and venture revenue disclosed, reflected and through as therefore to have not the
we ahead as Turning charges the highest we focus certain initiatives Through in first on to delivered third in in prior response of accelerated expectations our as million recognized benefit. is to we quarter a Project return $XX XXXX months, have $XXX well million with an of EBITDA Summit, as nine This the adjusted million. of activities particular COVID-XX. of $XX restructuring benefit the
million we now in XXXX, to, the generating XXXX, XXXX. $XXX to program program adjusted exiting benefits deliver EBITDA referred in Bill full $XXX expect million $XXX As million more approximately with of the
spend Project terms costs XXXX. to $XXX In Summit, now in related of expect to we million closer to
to the program continue full We expect the implement to to approximately cost be million. $XXX
the improvement by payables our improved quarter, the successful balance down continued both coupon and outstanding notes under credit bond for to we flow a sheet, significant a our while portion improvement. solid and outstanding cash a In fixed third position The received cycle job August, balance history. a billion in to support full most the balance with of continued redeem sales us a in issuing strength. refinancing, as sheet opportunity sequential team pay basis, debt strong days performance In company’s cash XX-year On DSO the the operating income to outstanding. $X.X facility. are another further executed of delivering from restrictive the from Turning transaction days day the nice community team cycle result our the did of revolving and provided printing lowest a our cash upsize
nearly of average two eight modestly in together debt. to billion our over our bond years, debt leverage-neutral years issued increasing $X.X with June, maturity of average cost only our new while increased basis, Taken by a weighted on we offerings weighted
end, eliminated is restrictive that bonds, At quarter times it REIT covenant. more noting had with is ratio Additionally, as new charge opposed to a these a line include peers we times now billion worth Also, most to of meaning as are leverage I $X.X have of fixed they in X to think covenant we X.X bonds EBITDA coverage our debt our our debt all covenant liquidity. bond EBITDA.
lease with a adjustments cash the of of X.X which into the from a adjusted on June times, elevated sheet ended levels cash had of one we second the leaving the in of paid We as the takes offering. timing balance with at notes notes bond payoff quarter our balance our credit We of early account our described reminder, net leverage quarter, XX in the of to As end at due facility. the $XXX July, million. us of September off
with we directors times, leverage term declared end leverage With position, our would approximately dividend of strong share range. our progress Looking year expect be towards ahead, the of long year-on-year paid $X.XX make as in January. improvement financial our represent quarterly to of X.X per an our to which board we early
to data Turning our is expectation $XXX capital decrease AGC. full million, or reflecting center our Frankfurt of with will now for expenditures, capital now that our year million, approximately development a $XX be of venture a part
Now let me allocation to as share our capital thoughts a few strategy.
we level dividend this over of mid-XX%. committed glide First, at our we payout time, are ratio AFFO to our sustainable to and targeted into expect
range are committed leverage to made times toward good on progress the lease has a year, of to Second, term adjusted target. target basis. our X.X our team X.X net we This long
for facilities, opportunity and we whether opportunities, we leases effectively With With we estate for have that to to historically with pipeline. monetize low certain or know, business. Industrial we the structure terms on of the to options own. been is have cap investment continues lease particularly to are view favorable a term of recycling our at data the allow team proceeds investment. that, capital control our long levels, strategic market development real rate to industrial pipeline us allocating build to our target approximately have our means $XXX to years, ahead facilities significant two million. our million. increasingly invest investors center return As full good the year-to-date considered dedicate $XXX third This proceeds capital nearly increase assets, and the we as to have in funds monetized to of intent that, high several accessed of capital the year in We incremental $XXX generate million, our brings as business our to of for amount quarter and
into of we center favorable to capital recycle provides analogous another data of allocate a the projects. amount joint to real The JV industrial stabilized example view venture selling to in monetizing a - good pipeline, it phase. with boost total in relatively The our forward, represents venture going portion we small albeit us stabilized estate With to capital an to development of together a market and announced provides our source backdrop with just assets into we more projects assets. what will Similarly, joint assets as Frankfurt returns assets strategy. on incremental industrial are is redeploy the to opportunity planning development highly to development this
last to impact for year, while quarter would as fourth in to full to with therefore COVID, third for the I Turning an EBITDA XXXX, a foreign incorporates provide management, quarter. expectations official to and Project not we our This benefits revenue from update million outlook and any reflects the adjusted Summit $XX approaching to for outlook EBITDA. headwind this $XX remainder generally as exchange planning continued of changes solid would accelerated rates fourth are lead for flat year-to-date our a and million includes outlook the view full With we slightly today, like excluding the from issuing unforeseen material guidance performance, to and a line EBITDA to are dollar This of a growth the low year. revenue for the on single decline be basis, cautious compared the adjusted and year quarter for adjusted revenue for digit revenue positive our year savings,
full results, expect be to now for up the low year. single AFFO favorable our Given digits growth we
get been full remain expectations the though as we naturally until and our this us, would behind committed as are with prior guidance, provide on additional XXXX, just commentary tax providing trends, commentary. throughout year. doing community to difficult trajectory to from you ahead unchanged our for is rate Our year expect, to we it business investment we’ve When look and we COVID-XX shares outstanding underlying
has delivered. we challenges have Q&A. line strong persist, team the our I for to you confident forward remain the please that, open With We and its further progress to continued resiliency the the fourth am sharing with of we While proud results challenges our for look how the storage durability service responded business on Operator, earnings and business. these call. our of in quarter
