call. Thanks, healthy. I Tom, safe and good and the morning are to on you everyone hope
assets. global another quarter by tower consistent driven release, in business, As throughout our solid had demand our today's you saw for press mission-critical we
to turn highlight the for we a like charts, accomplishments to Before accompanying quarter. would I specific the few
more revenue. detail Adjusted shortly. I our AFFO consolidated will First, EBITDA expectations which we discuss met in
growth led nearly over we XX% had our tenant business Latin solid Africa across Second, at America at and organic billings by X%.
finally, Third, we strengthened across by across tenors investment-grade further balance senior our our footprint. multiple $X notes international attractive constructed XXX more with issuing in very And economics. than billion unsecured we towers sheet
second tenant Now, will our results. we quarter let’s X details billings and and Please Slide turn to to organic turn property the of revenue review growth. our
we interest to Although generated we on experienced to of as-reported be the impact, resulting growth. basis growth our primarily referring fundamental an rates I’ll basis. solid operational some metrics addition for from translational the standard some revenue underlying key understanding FX overall, unfavorable our of global our In performance, FX neutral in pandemic,
consolidated the X.X%. by Igor grew or on by earlier, $XX second an our on quarter million reported $X,XXX million period. of mentioned As neutral property prior FX nearly basis X.X% year basis revenue or $XXX a million And over
$XX Our of offset billings grew property XX% million our to the were $XX new billings our and comprising churn in included colocation partially key $X which $XX $XX in million, builds. and of million and segment contributor from from consolidated XX%. positive our nearly with A of and million by represented billings XX%. our international impacts amendments. U.S. items growth revenue tenant components Roughly contributions other These $X,XXX remaining tenant escalators of acquisitions revenue The tenant million by consolidated day property revenue was million in one in items. around
million quarter U.S. or property prior X% totaled revenue for period. segment Our over million $XX grew the year and nearly by the $X,XXX
FX as property by $XXX $XX the million headwinds million revenue to year’s just discussed. international we X.X% compared Our primarily last translational of to nearly declined levels, due or
in was to quarter. at Moving with see right-side the of slide, X% tenant consolidated will billings for the organic the expectations line our our that growth you
basis contributed X.X%, property escalators, a tenant was X.X% activity churn XX billings contributed X.X%, comprised X.X% which U.S. which other of new business items. growth from organic segment, roughly our For of negative points and impact
I seen over and from that to the quarters. a With business anticipated will in our have reflects year. driven further by we sequential the relatively updated rate towards the when business growth new with begin modest T-Mobile last we to detail T-Mobile review as this outlook, acceleration from more said, activity expected, new pickup our contributions of deceleration As few primarily discuss end
Our led was at was just and X.X%, organic expectations was Latin over churn mostly tenant of given at nearly X%, billings new general which X.X%, by escalators again, were international over segment market partially items tenant organic property of billings India inflation-based in X.X%, X% in line The XX% are while Europe churn nearly with offset where of which local international Africa America component which growth totaled conditions. growth and contributed X%. our activity parts items which around pricing points. business contributed These much X.X% and other basis India. by XX was anticipated
please AFFO and to we EBITDA Slide our results. review turn X and will Now, adjusted
a consolidated or the $XX basis of second EBITDA and million adjusted on by $XX neutral over or $X.X FX about grew reported basis an X.X%. million quarter on prior just Our by billion X.X% over year
increase $XX and attributable million roughly margin points impact by EBITDA certain organic some up XX diligent a offset bad was our on growth, combination was over net approximately XX.X%, against controls, solid This These of cost impacts favorable were India. partially in prior basis in incremental reserves, a debt adjusted favorable straight-line. receivables to Our the year. focus of
while international our remaining drove our the the generated profit business for the in business the operate of in total, segment property majority U.S. again XX% XX countries, our we substantial quarter of operating XX%. Although accounting
levels an basis $X.XXgrew growth was FX $XXX driven the maintenance on by grew basis discussed our cash X.X%. year’s share slide, see growth million Consolidated capital management, by $X.XX and well FX taxes on previously grew neutral lower of reported of AFFO $X.XX of prior a spending. the reported This AFFO by EBITDA, as or nearly or on $XX right-side or AFFO and a careful by around X.X% in basis million basis oversight share you X.X% per our expense per million over consolidated can AFFO neutral $XX or to as on interest adjusted an X.X%. Moving and over and last in the by year of
updated a take expectations for our now Let’s look XXXX. at
into Before numbers, to high-level I our few cover of get I assumptions. want the a
activity new updated our T-Mobile. is acceleration in post-merger First business from expectation the regarding
prior would levels have from Our we and outlook activity increased of starting seeing new by materially business be assumed now that T-Mobile this levels increased would month.
seen modest based has on increase public activity, the comments. the we have a to reached in we level Although, T-Mobile’s eventually see, expect yet it not
we later now expect this a billings Consequently, new XXXX, growth much shortly. we of will business in detail this are organic U.S. come expectations acceleration I As result, discuss for to year. more our tenant reducing which
is regarding bad some reserves for our expectations additional customer collections and Next updated debt.
tenants For have without throughout the footprint pandemic. most pay part, our to continued through on-time the and interruption
BSNL, However, Vodafone have future ongoing as become a India. they primarily million payments court $XX of or in full is in the AGR the interrupted approximately carrier Idea as assumptions possibility the debt layered in outcome delayed that India, for in well we This expected attributable owned payments final as to bad year. additional proceedings timing of weigh the from government the
for million roughly in in assumed Additionally, we reserves $XX have Africa. a debt incremental few tenants bad
outlook. Lastly, impacts on $XX are estimated FX The adjusted million for million in year these revised as rates prior full currency revenue, expectations, of have the foreign EBITDA updated consolidated exchange be compared year of full our AFFO. our to both rates guidance a and we property positive to $XX
consistent telecommunications real of is to remain demand solid. adjustments, other largely our our for expected high-level all across prior these markets from remain our view estate our assumptions with Aside as
midpoints. revised to turn review our I will please now you’ll XX, If Slide outlook
an a guidance our rate and X.X%. X%. of $X,XXX the property decrease reflects growth approximately prior on is revenue growth a FX Our $XX is outlook On a of is updated million, million midpoint of for which reported neutral basis, basis compared rate the to
of property For million revenue as our lower than $XX an straight-line result our being the timing segment, prior in driven decrease $X,XXX true-up. About T-Mobile million, expectations is adjustment remaining of to of million the of million which we with U.S. our this an so $XX attributable non-cash activity a revenue by now accounting $XX is projections. expect or
revenue property a At being international teams anticipate of million $X,XXX expectations driven of partially now not effectiveness million revenues global more lower which $XX prior way impacts, million due broadly as offset the could than in businesses $X by which our the higher throughout the for across $XX outlook, currency along as $XX prices. is our high we consistent million our across around segment, fuel our expectation. is of this by International our well roughly demonstrates level, our For outperformance, than the footprint nature This globe. favorable other pandemic. assets, to FX have pass-through our in X,XXX with in a decline with prior neutral of We our critical proud our employees be performed are million, more
Moving organic expect of slide, X.X% a tenant right-side now on the billings full includes This for the growth to growth to X% consolidated and approximately organic basis. on between tenant U.S. X.X% projected year. we of be the billings
just I in driven long-term the around our change As rather mentioned by is our assumptions activity a underlying up U.S. adjusted expectations us to trends. with change than ramp timing T-Mobile’s fundamental
International our of segment, reaffirming our outlook we growth For approximately X%. organic billings for are tenant
prior below neutral growth are, to or to is basis. $XX outlook of expect primarily net Moving we India, reduction over to in million by our an in $XX our impacts bad is the offset which this in debt the $X,XXX roughly be expenses reserves, be activity. that general million, approximately adjusted Slide of FX outperformance side. business, direct and our midpoint million negative a which prior are increase the million, FX so million segment of year our anticipate throughout to drivers the on from revised and outlook $XX an as on X% now The reflects $XX services see and additional favorable XX, reduction a reduction a as T-Mobile now straight-line, and $XX impact $XX of translational nearly full These outlook EBITDA million you will for the SG&A our particularly well on we year result partially expected of million
the around EBITDA expect to percent in adjusted bad excluding As as part SG&A now X% range we or of the for total of debt. a property X.X% our projections, high year cash be
growth be year and basis. $X,XXX of prior to is year full reflects million, the an over for outlook $XX our AFFO which the above consolidated neutral X% nearly expect now million we FX on the Lastly, prior midpoint
through, in the lower cash We relative offset million consolidated generate interest, million $XX guidance. have and expected On million our in we up $XX capital $X.XX of $XX to FX reduced AFFO EBITDA $XX net cash maintenance to a expenditures to in expect taxes, adjusted and prior been about lower $X.XX, million cash share basis, in decline per favorability. able
Slide to expectations capital for Moving review the year. on let’s our deployment XX,
be billion around resulting approximately the Our once full is growth dividend annual Board of an subject year common dividend right rate in approval $X to XX% stock expected to again.
gradual as our growth grow below and next discussed, requirements, taxable Board As previously for XX% XX% well as Subject REIT anticipate discretion, likely in dividend year. rates and the several future of between our years, expect any held years. That in rate be income. is roughly our dipping will could our impact expect to with to to in to philosophy of line growth REIT with and internally consistent the in each our to grow you next XX% be with result beginning deceleration dividend dividend we the
also outlook in redevelopment $XX an XX% and in more CapEx decline nearly than towards with million This lower CapEx $XX maintenance million being We program down additional billion $X.X discretionary. our of $XX from our is deploy to with CapEx. investment that expect million prior
purchase in this We including ventures Ghana in and MTN’s have India current business, regulatory stakes year million is roughly into $XXX exchange approval India. currently in in in M&A transaction million of rates approximate joint Uganda our of on which our late June. our Poland interest so acquisition an at minority spent had The earlier far small entry pending year TATA’s through $XXX this and of our remaining value a
We continue expect complete to this shares purchase to year. of the these
million $X year-to-date earlier deployed We This $XX billion. to repurchases capital of around the million total also combined with over far dividend declaration year. so $XXX to our shareholders this in brings share our year through returned
an step ensuring from We or anticipate we investment a among to ability we opportunities repayments may proceeds to which general program. our It’s intention for $X time-to-time corporate sell use of other stock. include debt billion purposes, things. common variety our to aftermarket to for having the raising up stock the of to offering have towards intend options as access a Finally, wide implement capital,
financial and XXXX, a internal Slide now the stock nearly historical allocation associated our M&A discuss of XX, Turning deployed investment philosophy, to dividend, through I common billion Since transactions repurchases. our have will returns. capital $XX program, we briefly investment combination capital common and stock
on non-discretionary our with in and capital combination stockholders was dedicated billion $X left, can repurchases. $XX approximately invested returned the chart through $X deployment was discretionary investments M&A. to remaining see projects. of billion to Roughly, share $XX Over represented to capital common dividend and distributions billion you being the As the the maintenance billion capital
Tom to-date towards vast by investment has of guided and been This to alluded been longstanding continue to investments objectives, have our always As geared have macro majority which been investment towers. earlier, the towers, constant we macro on States significant generating per as capital, the most risk. us by communications disciplined objectives total AFFO be maximum our our as the our own of our and prudently Likewise, on for experience on of and estate types longstanding invested remain the growth as to we a or in international while real long-term United will compelling platform our focused managing return driving initiatives shareholder returns means in and our attractive all review innovation share all infrastructure, extending same. pursue markets whether of assets of explore investment select as communications approach objectives. view we Based
where investment shares shareholders. portfolios, located are As our see, regardless key our our A several historical of worked results, our for from element they you our tower has that process of been has by can success capital to business and including driven ongoing maintenance. growth of the multi-tenancy leverage a low contractual very escalators, monetize value-creating operating consumption, mobile ability characteristics data and high and commencements in proven new likelihood significant well
XX and our testament last now basis around the the than XX%. Lastly, now view tenancy make States less the the leverage and nearly came many and invested at located have and can outside mature years this this points right, profiles. of high capital the can the attractive returns. as model. last In were inherent model with XX which account, in into our our United We We ten of I’ll consistent over by see our Even and on taking sites, in decade, added has tower powerful on the financial XXX,XXX to the towers charts risen nature stands quality closing more margin as in you and remarks. a one disciplined Slide we highlighted is approach a investment operating lower, return day few turn to
Pro we refinancing and First, a are second of solid results total over we beyond. XXXX more years this all the earlier head we average have X%. into of quarter and activity interest the XXXX. we and our finished with an XXXX senior second average with in cost liquidity $X with well of month, and set believe early for forma of of as redemption an positioned six us our leaves of tenor until billion half which reflects notes, under This maturities than no senior XXXX note position
the outside of our I both COVID-XX translational of modest. pandemic on FX been business effects, discussed, impacts and Tom far As have thus the
difficult two I role in to global people through in points. critical keeping this will We closing, our infrastructure are a connected make see And such assets final time. pleased play
the multi-year about period. United energized we are as out a States we First, over look
expect available. rolling across out new and of multinational up. their activity markets seeing $XX invest to continue globe of our we landscape central long spending consumers network our activity handsets promise second, mobile line support than higher our capital the our including XXXX. real deployment access will of open and continue about great network the these drive cycle C-band are And advance show large to tremendous around heavily the billion Networks as operator, that, to expect play. in begins wireless From data today, networks expected please we be wireless estate to across carrier We With lands advantage growth in levels as in to the the point future DISH industry will usage spectrum becomes tenants role the also trends. gain primarily their XG excited communications international as for a applications you and questions?
