CLAIM #6716 · American Tower Corp (AMT) · 2023Q2 earnings call · Jul 27, 2023 · due Dec 31, 2023
“And it's very in line with kind of that 220, 220 plus sort of range. So we're certainly very happy with that, and it drives about a 5% new business growth contribution to that overall organic tenant balance growth.”
Rod Smith · CFO
In context
“eg room by saying at least $220 million here in full guidance. So I'm just trying to understand how much of this is conservatism versus taking our estimates down to the low 50s? And just second question, in that new leasing are you seeing a lot of DoD spectrum or dual-band radio spectrum being deployed and if not, could we then see another leg of growth as these dual-band radios and DoD get scaled and ready to deploy? Rod Smith: Hey Greg, thanks for the question. Regarding the cadence here, I think you do want to plan for that lower 50 certainly by the time you get out to Q4. We'll see a slight deceleration from Q3 to Q4. So maybe you're up in the mid-50s and the low 50s by the time you get to Q4, but that's what we do expect and see in terms of the new business in the U.S. going forward. And it's very in line with kind of that 220, 220 plus sort of range. So we're certainly very happy with that, and it drives about a 5% new business growth contribution to that overall organic tenant balance growth. And then in terms of the DoD and the spectrum, we're not seeing a lot of that. I'm not sure, Greg, if I would go out and say that, that upside is certainly not in the short term, if it would, it would probably be clearly small here this year. We wouldn't expect to see much of an impact. And to the extent that it is deployed later some of that may be within our holistic agreements as well with certain carriers. Gregory Williams: Got it, thank you. Rod Smith: You are welcome. Operator: And our next question is from Batya Levi with UBS. Please go ahead. Batya Levi: Great, thank you. A couple of follow-ups. First, how do you think about your current scale in the data center business against the growing demand that you're experiencing? And on the services side, you did mention that there w”
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SEC filings for AMT ↗ · Claim quote is verbatim from the 2023Q2 earnings call.