Thomas A. Bartlett
Good thanks, Hey, Jim. everyone. morning,
sequentially AFFO. global So than U.S. our adjusted by quarter noted. to highlighted as we and growth X.X%, Igor consolidated about We trends expectations. posting earlier, in demand results, even of footprint stock organic were XX% another solid across billings generated as our strong accelerated grew and tenant property our initial EBITDA growth common dividend revenue Jim better
on closed at leading XX,XXX the of independent the adding portfolio to and as a India, quarter, acquisition of solidifying our also tower We in over the our tower end market. Vodafone further our position in operator sites portfolio very the
Aircel's the over would announcement in timing raised we for Given several accelerating have the anticipated the next churn India, XXXX, recent to churn our in previously market bankruptcy we've occur of certain years. expectations
For purposes believe how working the outlook our in results approach providing out. for to of taken prudent for we've we we be year, and a bankruptcy the see what process
outlook around details by updated first high fairly watermark XXXX dive the wide be to a performance terms We the consolidation-driven quarter expect With carrier that for and let's the in churn into year. margin. our Indian of
X, turn nearly added X% quarter X%, you growth to slide the billings new volume consolidated we growth If attributable of footprint. with geographic from realized business throughout first tenant our during please gross to organic
from U.S. growth Our revenue non-cash revenue to X% amendments basis. was segment business the straight versus for growth of U.S. X.X% and growth with decline our tower nearly colocations property of levels contributed both including over associated Volume million negative record rate, aggregate line supported year. X% a per prior on and $XX in organic roughly a impact quarter recognition an by the new
organic growth efforts X.X%. were strong our of that customer sequentially helped X.X% including QX nearly development quarter. U.S. XX%. basis points offset accelerated tenant Network across of base Pricing contributed activity churn were our for to Notably, new to entire just X% up over billings just XX domestic the compared by around year, FirstNet-focused organic and As escalators over commencements business drive last partially growth.
end we heavily amendment amendments our our and as once historical New business continue of quarter pricing in occurring towards to on at significant commencements equipment sites. see weighted the high were are range again the overlays
about consolidation-driven solid our by churn have points. for whole, from higher a period U.S. consolidation-driven the offset in organic This was dollars. our tenant demand recent India, particularly in escalators and in result of another X% QX in filing added quarter, multiyear XX X.X% organic marketplace. recent the rate the the and of protection. basis the real of a India. as that that We related X% run nearly given items long-term a exceeded believe Aircel's X.X% continue of markets levels of our for partially markets, of contributed churn drove In few nearly billings amendments in gross offset in which our growth international bankruptcy we're million to about to On in growth, tenants including initiatives as carrier network business international while by the period ago tenant public gross nature ongoing and colocations organic commencements, was year elevated and the of total a by another new was solid impacts commentary international growth X% billings other basis, carrier of a churn visibility into the midst of communications growth of estate,
the result, impact churn As billings a have around adjusting X%. organic India, of would international for consolidation-driven tenant been growth in
in XX%, the sites New largest to Mexico, of ALTÁN. global built over the our finally day-one contributed as XXX XX%. quarter, our organic well in acquisitions America, region, course one of the NOI This the day tenants was by the strong multiple grew a growth on contribution level driven activity quarter. this tenant the nearly as growth. yield the average by associated five our And where basis, driven was from year tenant with business sites was with X.X% just market international year consolidated over added this Tower colocations another billings we've the particularly markets last and over over billings newly around the And including prior revenue from American primarily Latin XX% second the amendments generated total years. last of in highest constructed
by slide growth maintenance growth top-line diligent operating adjusted consolidated quarter, cost AFFO generated expenses, strong interest driven management CapEx. in to and EBITDA X, the Turning we solid and also and of
grew Our to EBITDA Latin primarily EMEA share business. rose from around markets our in XX%, X.X% quarter. throughout about $XX X.X% declines, line around by we able significant in and attributable expense net a both We're investment to revenue as AFFO to as operational diversification America per rates nearly well rose carrier new Aircel of solid quarter. consolidated-churn cost adjusted result and despite adjusted due the grade addition controls generate the number of high-quality points margin initially grew Indian India impact elevated efficiency bad U.S., outperformance margins growth a across and the driven assets, about recorded on EBITDA sequentially AFFO portfolio, These the XX basis of negative million the X.X%. Similarly, balance X.X% as lower Meanwhile, debt of tenancy the a by of sheet. strong about negative and consolidated continued XX% of and straight that reflect impact in to basis stockholders rates a primarily focused on common global both a
of conversion and XXX% EBITDA gross segment AFFO a well reflective consolidated In nearly from consolidated of property addition, rate of margin over to XX%. adjusted they're a
will the over Indian another was assets. be result X% billings of including to consolidation-driven prior projected straight it to newly lower anticipate guidance, from our from X% contribution from a a roughly primarily non-cash and bankruptcy. let's that churn, revised to increase X% X% now XX, organic recently the X% At So our take as consolidated growth to our about tenant we line X%, revenue of Aircel's midpoint in about or than for revenue over higher X%, and a by tenant growth. our billings we're of including raising or We announced X% is impact organic turning tenant throughout LatAm the supported where a U.S., property acquired to now we expect U.S., updated of expectations at our of expectations and raising slide constructed negative billings This regions outlook, trends being our strong look XXXX. for growth are EMEA carrier so In additional churn we expected in an EMEA, contract of tenant last to result to is Latin primarily as by record Aircel's supported consolidation-driven organic or than expected levels an America now business Normalized billings XX% are more business. of And to filing. and to prior so than to of and of the representing consolidation-driven tenant be of acceleration finally, also tenant exclude of our which XX%, approximately bankruptcy now X% result expect consolidated for as higher decline respectively, in to expectations. levels impacts XX% by billings generate versus versus This a billings organic outlook X% in around churn approximately about tenant reflects in a midpoint anticipated growth X% organic be at for growth carrier X.X%, Asia meanwhile our growth new And new up year. we India, the organic anticipate for year. billings
and to primarily our accelerated $XX impacts. our consolidation-driven carrier Turning approximately for impacts the India some million, of churn by driven reducing property we're revenue at expectations slide midpoint XX, unfavorable FX in outlook, by
just expected total. the inclusive million revenue associated impacts tenant forecasted Aircel out-performance of is we neutral lower to and with about strong India, is prior U.S., in out-performance expected $XX to revenue revenue. expect to with around Notably, million outlook. our in Excluding pass-through $XX and of property million million initial Latin FX exceed negative that in the to billings EMEA outperformance total contribute markets around U.S. a expected of relative of America two-thirds $XX $XX over combination our India, expectations generate the Offsetting
see, as million you as and also addition outlook. our we compared anticipate $XX impacts to unfavorable foreign prior in In about can exchange
last the to India. call, review Turning as other did to updated I'd like expectations earnings our for revised slide XX, outlook, quickly to on before our we on we of our move aspects
levels, which last eight will over communicated three significantly we be near-term year so, a the or the carriers to or nine As above in current wireless carrier expect historical think consolidation driven consolidate through market by to the process churn down we or we've four.
We we're we the carrier churn for churn increase for market years the around expect sooner. now to run $XXX increasing reiterating principally to next $XXX the that due in India over expectations off expect in The $XXX but carrier what consolidation-driven more churn our churn of in to to specifically, total In prior million, XXXX, consolidation-driven million. of rate is million are several bankruptcy. realize Aircel to
pass revenue decline around million. In by also to addition, expect we through $XX
far for that our very that that year. to India XG are wireless of investments public the path tenant to India. think Further, and prior currently growth ease tenant represent of organic believe gross about accelerated with should X% led billings to [R-Jio], benefit these we by we our from network us levels year. of outlook. organic to the continue have expect these I normalized included and growth note year aggressive impacts largest India in Reliance incremental in made that us carrier outlook in their All of an the we more in adjustments Net-net, do investments begin to per rollout. return also consistent network marketplace being their Jio are set in revised who being on should XXXX churn been churn in own by want next for statements billings These
levels have stated of portfolio. that Over will that in they comprehensive to publicly to the this for other next believe growth in more few tenant as XXXX years, the market keep carriers to with our organic and billings India. we get rapidly India we And will all increase spending incremental us that beyond, lead capture normalized well-positioned and activity to we're network the believe, spending as to their up need we
to with outlook. our EBITDA the to now EMEA on coming the about X.X% EBITDA the million expect nearly generate of The adjusted expected from to LatAm regions U.S. down $XX We largest and from our this XX. by previous majority market, out-performance, the for our U.S., are combination of adjusted $XX Moving slide grow year, million of
driven recorded than is out-performance adjusted by about expense the debt be $XX offset bad EBITDA EBITDA million Aircel. consolidation-driven in more for just million over higher expect unfavorable India, I just to primarily adjusted of combination carrier by We QX, the currency increased and with outlook attributable to discussed the in primarily lower exchange the in rate we $XX our balance The in of associated foreign reduced churn movements.
we being these level at are share expect up offsetting However, at year. more our maintaining negative about taxes, fluctuations. the The outlook. to from consolidated million reduced of the around $X.XX EBITDA, and interest, AFFO cash and raising around maintenance million XX%, CapEx We consolidated cash $XX for in $XX expectations by in our in by prior about items FX per million points reduced and our increase adjusted expectations, than consolidated from consolidated net impact lower basis AFFO XX AFFO $XX over and by for cash partially million offset now is grow $X million $XX million driven for outlook in $XX by AFFO lower
these compelling across continue solid strong rates, AFFO footprint translate see to you As we can growth. growth organic our into performance from
record allocation remain our As given committed XX, we slide our program. strong disciplined of on and operational delivering capital financial you see track results, can to
nearly sites, XX,XXX augment million strategically in of our capital India. we primarily quarter, to first to acquire deployed continued or half our spending nearly over $XXX the during the portfolio, period During
to return market will returns opportunity market the often us rapidly that Historically these of found assets add volatility once the best normalizes. present to the times enable attractive high to expanding expect our We portfolio. drive valuations of we assets
new deployed about We markets augmentation. the and capital this of XX% We quarter, with continue our sites over continue returns discretionary projects, to new built site even be more of for where double site in compelling. initial also in or to and digits about spent about be also total construction long-term $XXX capital XXX XX% returns million this on primarily international
XX%. returns earliest of delivering XXXX built Our around between of XXXX are those now builds vintage and new
$XX was CapEx our under period, Just X% or spent primarily on the base. to nondiscretionary million high-quality in asset maintain
$XXX maintain adjusted also stock range the invested dividend, capital by at million of net investment to annualized We've rating X.X balance for about a solidly Lastly, all continued quarter ended within strong basis around long-term times consolidated our up XXX and years. grade during done around our invested which X X capital, last continuing on this rising to on which times. grew of we deployed common the ROIC over XX.X%, expand our our We've driving for period. XX% over an while credit business. return We which is EBITDA, target delivering is debt the five to return to our of sheet, points
future. We over expect growing and financial through investment current strong capital continue into to being enable time, will methodical growth, deliver made rising our the the us process to that allocation returns a consistently dividend well
AFFO a Latin our segments. with and are and the expected India, generate of across compelling turning while consolidated summary, other for U.S., strong efficiencies growth near-term and elevated strong share diversified seeing year. are per America and start kicked in we parts to EMEA us XXXX our in to And So in XX off we enable slide to business growth cancellations
impacts the some over next that by occur years, Additionally several the we're rather previously we'd accelerating of churn more sooner than for assumed now ratably we in to resumption India better growth believe later. positioned
continue a the In environmental grade generate footprint. billings marketplace future. our Operational the existing usage, key new top to demand, for of to record in be to in us Brazil. we're optimize be rapid network our in impact. supported initiatives. growth all continue We throughout tenant efficiency strong think investment X%, in invest in all of like also our And our to markets. the over strong priority AFFO global maintenance as to in pave the seeing with well the the for into our markets growth. of strong secular XXXX, to sheet operator, we per remains well and we And to so in as a over key position of taking way of business levels our well by markets, we're are of resulting returns trends in number to positioned carriers deliver balance steps to our and is U.S., growth translate efficiency conducting growth wireless the continued the business, shareholder mobile Mexico markets also international The various through of continues their major particularly liquidity And for some growth, the busy organic focus attractive consolidated underlying that, real total We communication for Q&A. turn I'll the can Further, and share estate returns on dividend shareholders global and innovation take in continues to improve teams the trials help future and call our remainder operations strong minimize mind.
