Thomas A. Bartlett
everyone. Good Jim. morning, Thanks, Hey.
highlighted quarter our earlier, the we our second shares. repurchased billings and growth metrics. U.S. for growth X% key by more than Igor we another grew in dividend over As consecutive XXX,XXX had tenant Organic strong common of stock was XX% across the Simultaneously, quarter.
geographic outlook we the few also year. we we mentioned, receipt agreement respect XG into the use path clear September deployments quarter, further Subsequent With Tata late nearly with believe days with able right this of let's unpaid with terms. a into which just our dive to a that that we in in expect We to with end, in in around favorable Azteca last And for Jim on the as interest million acceleration to our Kenya. diversified and disclosed TV settled our $XX expansion and ago, quarter the in updated the performance resulted a footprint quarter us capitalize the helps details settlement to were third market. that, reach we India, issue for
attributable primarily contribution tenant amendments slide additions or the you organic billings run from XX our on from was a quarter, normalized of X% global the the X; third turn rate during and over the consolidated resulting colocations If to course X%, of over to a growth generating nearly months. last new asset strong pace business base, across record basis, please of
up recognized by versus nearly growth and about straight-line quarter $XX reported the about million property and impact XXXX, churn revenue XX% X%, XXXX recognition towards business weighted of decline to of offset Our X.X%. and growth QX the X.X%, from organic U.S. add of This was billings was including up just X% with versus partially to in new year. quarter for quarter, business U.S. the was Signed over negative lease business of sequentially. equipment tenant a X% X% amendments which new contributed associated incremental noncash in including growth of heavily volume XX% was QX X%. prior nearly networks. revenue colocations continue versus over carriers nearly as up of in the Pricing their by escalators again around were amendments, segment
initiatives of sustain Given spending levels expect carrier in organic the multiyear growth to U.S. nature solid of the market, the in going forward. we
International partially rate items concentrated in about markets International International EMEA business to by Our South tenant XX% across all finally, XXX XX% quarter. of carrier the resulted this our cancellations of of volumes excluding gross between which also international show came contributed X.X% expectations. and nearly or India. India, was our property LatAm quarter. around generating newly X%, XX was about Key amendments billings this consolidation-driven revenue billings constructed churn, year XX% another about added the billings positive business slightly total than in contributed prior represented quarter. And of X.X%; a elevated of sites about nearly churn, about X% Mexico, the organic Colocations sequentially organic churn. the the to global by run Brazil, day This international in another growth. the across added X% higher XX% growth tenant driven we've escalators although course organic organic bps. again, growth in reported other and largely with has was primarily consolidation levels the with tenant the up and X% and trends, drove offset impact quarter. and was X.X%, revenue the International was growth commenced to billings of in This our continue acquisitions Indian over growth, last one towers Overall, degree, tenant and, business markets over revenue new associated smaller sites, built And from carrier new including in Africa
programs, Our yields dollar one solid U.S. primarily with QX. of over generate X% continue newbuild in to average NOI in international returns, day markets,
income, quarter, EBITDA generated adjusted and X, Turning expenses, growth by supported maintenance and top management also costs, slide interest line to strong AFFO of we solid CapEx. diligent of the operating consolidated growth, interest in net
after XX%. in adjusted the EBITDA straight-line grew over would out noncash by negative grown and at impact with impact EBITDA consolidation-driven Our our Indian X%, adjusted of over the EBITDA recognition of adjusted margin coming over And carrier XX%. stripping the our churn, have
was X%. attributable in per X.X%, Finally, X%, to SG&A AFFO and share stockholders AFFO AFFO attributable AFFO a percentage revenue nearly stockholders a as consolidated quarter. XX% a XX%, of the about grew roughly on while grew On Consolidated basis. and respectively, grew to common common flat about basis, about sequential
and And diversification, operational these investment-grade incorporated line efficiency, strong Finally, increases quarter And maintenance on with of this portfolio, and sequential rates a taxes. our CapEx on grew per global reflect our cash high-quality normalized significant nearly growth basis, XX%. sheet. share the expectations, in growth previous focus consolidated AFFO rates balance
We QX. these again both expect items up of in tick to
entities. In of as agreement, approximately Turning new year. $XX so leases approximately annualized our we XX% other $XXX our including on receive to slide onetime of Tata's in X the The this on settlement various representing India. Tata tenant billing rate respect a in Jim rate will briefly sites, by effective to towers reached annual continue leases, quarter. under cash on their off assumed payment with have million touched Tata-related exchange, million X, fourth a churn remaining we or Per of billings, run million with will November contractual run of agreement certain the obligations will roughly in earlier, in $XXX
this consequently churn, million and in and carrier approximately in $XXX XXXX, or the our consolidation-driven XXXX. incorporate Tata. million occurring now expected $XXX annualized so view in with are million updating on $XXX $XXX between consolidation churn churn $XXX We to in $XXX and of total million million from between India carrier million incremental in We expect
new ranges assumptions consistent churn, Tata Aside from charge reflect incremental prior broadly with our the expectations. these
major we with carrier numbers. With that been of the substantially our the now events India this churn have anticipated signing agreement, believe in cared for associated consolidation within
$XXX expand to their $XXX networks. of and run XG post Asia revenue and rate this base in Tata between We investments increase or ongoing expect carriers and have churn so tenant as to make million million time, over annualized the expect eventually improve incumbent to
combined play sites, relationships over carriers. decade. role leases fact, our XG XX,XXX in than XG from incumbent with India will, the more XX% of of in remaining to large wireless be Over the should well strong with portfolio important to carriers, us transformation the position with an Our next of major remaining
We to the low moving to expect during eventually it double-digit to rates XXXX more normalized organic growth, high of single in range to result XXXX the timeframe.
gross in note even Finally, despite also to X%. that about volatility, I'd the organic in India expected XXXX, be is growth our
the of country outlook, into X, towards nascent economic broadband updated market a India. subscribers The in is by most potential subscriber nearly by which stage. key is on of slide has its X.X growth India optimism deployment and represented long-term I'd connections X and markets, fixed of of transformation. path absolutely in put XXXX. X base free wireless is recognized would the and to biggest clearly wireless like billion minimal fundamental the before consumers as been our and U.S. times the To quickly few broadband growth access line to parts driver I and India dive penetration, businesses, subscribers driving with XXXX of world's also in the a Moving that over our access are summarize largest X.X into government in democracy for billion wireless increased expected billion the context, With represent the over critical XG, mobile by today one considerations well still the
environment XG we've In process wraps investments Once wireless up, consolidation consolidation the are however, spending carrier large is over some changing as made rapidly, normalization. ongoing in BSNL this we helped time three eventually connections for now. towards that XX% far, thus CapEx of to by the fact, despite expect competitive for plus part This, referenced XG the XG-based. ramp remaining operators still wireless trends
Importantly, because traffic, network density. requires brings exponentially it XG more more data significantly
twice that more indicate nearly forecasts third-party communication this targeted we ubiquitous as the cell enable result, demand, enabling connectivity. in a returns time. XX,XXX significant incremental over sites market capture than we're site of to to India portion XG With will well-positioned believe need As achieve leases today, our many us to a
let's of lower XX, updated and foreign with look outlook, property includes revenue over translation our growth reported year expect midpoint expectations XX%. revenue. negative X% now of we slide our take non-cash associated impact of about At straight-line X.X% exchange to Moving at from annual the the full a for XXXX a a negative revised effects. This revenue
in on billings we our portfolio are raising for also growth. and expectations organic consolidated and expect Brazil assets. tenant to around of especially from This sites where a of organic November combination tenant including growth includes we urban billings contribution X% X% throughout asset new billings increase X%, contribution This We is strong expect in supported X% our from U.S. new trends of the Latin to fiber being a new by tenant our X. American between segments, close and to $XX X% assets Kenya and million around that
the Tata the we while the tenant tenant result to at a our quarter anticipated run expect Additionally, growth year. than high quarters we in over gross Asia in the of Tata. of a we supported third our rate generate achieved EMEA expect are Asia, in organic our incremental as reducing we expect over are organic fourth of levels new organic of as the as for expect new the organic of just Further, our now levels expectations of for while growth of billings higher of in Latin XX%, In X%, also X.X% tenant be churn new rate U.S., by discussed. maintaining we of result Meanwhile, billings I second America, and expectations with being impact billings as tenant In business, will least record that billings raised churn additions. slightly we business settlement business. higher to expectations incorporate levels slightly this growth
tenant now X%, X%. guidance. project around of we As XX% an of gross And organic versus just prior versus we as XX% of expect decline prior anticipated included we growth of our growth in a which billings decline outlook, result, mentioned I around organic up basis, on over our a earlier,
total, million Tata assets agreement. $XXX driven About our being are is by maintaining accounted offset our we in million including with EMEA, revenue million consistent straight-line roughly and organic projections. the new between of as of business, raising in is U.S. $XX impacts. for million compared FX our $X be net continues The performance unfavorable revenue. growth property and by impacts the Finally, our higher previous revenue including In in around this remainder prior our to business the outlook X% by of expectations partially This are $XXX in million incremental outlook. across the as X%, I expectations referenced is approximately by $XX we to in outperformance, earlier
revised historical of X%, the Churn ranges. our of approximately churn, the carrier is expect for year. of now India we line consolidation-driven X.X% to remainder at with rate in result remain As consolidated across expected a the business X% expectations churn for and a between
contribution we from million currency to million $XXX U. $XX by up straight-line about and well our markets. impacts expectations, a $XX $XXX This a than in non-run also other in $XX EBITDA the with EBITDA million net as added FX-neutral by being our in Moving reflects about as fluctuations unfavorable from U.S., million on under prior to rate the slide XX% project benefit the items. portfolios offset net our million from our million our the international $X agreement. outlook, to our increase $X million $XX more is for previous just adjusted million as newly partially over The the XX, Tata in in is now approximately in expectations, increase grow about year, compared in reflecting Overall, the across remainder S. spread
We just expect billion, year-over-year per the a to are are expectations AFFO over from growth primarily being consolidated of reflecting net share, basis, Tata about under share AFFO also agreement. $XXX raising million now consolidated of $X.XX. or by On we a These our $X.X $X.XX rate million, $XXX by XX%. increases impacts per in driven
addition, expect higher roughly offset In AFFO headwinds. $X.XX resulting to lower or over from million, we expense. incremental $XX is FX net per cash share partially be in about interest primarily EBITDA This incremental and cash consolidated $XX expected by anticipated million
methodology, remain slide evaluation to growth Turning which and us enabled we investment our long to the generate cash term. to flow committed over has consistent returns XX, proven
high-quality two judiciously assets worked the last attractive Over flow cultivate portfolio of cash with we a decades, to global growth.
the in about factors. teams XX% structured XXXX, International This careful In host cash of sustainability about cash needs, investments, and free annual at operational to of average segment utilize and growth, we our new which XX%. a rate average segment an is includes of consideration grown assess flow attributable of fact, of since the by the highly math-based ongoing flow future of we've excellence capital process other our free our U.S. an to
business able do of to capital not to which needs slide, while see free keeping you only it the in we've been been the nondiscretionary able capital cash extremely we long-term low. generate growth on tremendous reflects this flow, but have As intensity, also can
and on our we long-term to evaluate returning process, capital cash sevenfold In strength, invest expanded which our of $X simultaneously investment-grade These financial in fact, at an had balance with further us in X scaled returns seek years in portfolio leadership $X while compensation. comfortable annually, and X%, the leverage our of further expansion average period. and and share times, distributing the build team's and ability believe XX, continued to consolidated XXXX, come. objectives discipline rating, attractive nearly our as within base consolidated long-term X ROIC total combined expanded as dividend also to business, about by our invested expansion to despite many as AFFO time. we've return our our operations, growing our drive of positions over we've our nearly our are Since This to program, and growth a on our on rating, diversify over deliver free third. XX% flow per over evaluation the stockholders strategy range intensity investment-grade We that through in are AFFO we decreased remain a XX% asset simultaneously sheet sources metrics per by stream global year. well committed expect share billion enhances average the during capital. target that to our past by sustained turn comprise our XXXX, billion growth resulted our increases while performance continue strengthen to our stock, reoccurring our in stockholders. to an you to We on diversifying basis see capital Since with over future maintaining of for on of performance. grown each to innovation, our cash We've And that nearly investment slide to balance also sheet repurchasing opportunities can simultaneously has our
in strong base, for any investments while the our us growth the our combination shareholders. to strong that to dilution assets, make potential in with expect compelling minimizing by generated We organic will balance enable sheet, continue scaled asset
and to for Latin America tenant XX%, full over of of year and global had in organic XX, billings slide summary, in regions. expectations another we've our over X% organic growth raise quarter's in both results tenant Looking strong U.S. billings organic in in including growth QX, enabling growth us
for focus expectations EBITDA enabled business our the legacy throughout us continued cost increase from on operations. AFFO consolidated Our to adjusted controls also has and
XXXX of timeframe. we Additionally, normalized Tata, near-term the more in levels towards with in and the clears us an market resolved which known path reached agreement last and in growth major the achieving item XXXX India for churn
worked continuing to continue our potential low on intensity, characteristics efficiency. attractive be global We've flow operational cash capital assets the We with and while long-term to business. of excited focus select carefully about to
attractive As as long communications Q&A. I'll we're operator we on so returns with footprint. evolving call we the some a that, can And take well-positioned total global the result, shareholder to landscape turn over our a wireless across to over deliver the run Operator? to rapidly seek capitalize
