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CLAIM #6822 · American Tower Corp (AMT) · 2024Q1 earnings call · Apr 30, 2024 · due Dec 31, 2025

Continued strong growth from CoreSite, especially as we're commencing those kind of record levels of new business that we've signed since the transaction was consummated.

Steven Vondran · CEO

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versus commitment · official band 5 percent
Committed
Continued strong growth from CoreSite, especially as we're commencing those kind of record levels of new business that we've signed since the transaction was consummated.
Reported
complemented by data center revenue growth of approximately 14%.

In context

out publicly at this point. So I would expect a ton of change there. Jonathan Atkin: And any change into '25 given that these are often 5 years in duration? Steven Vondran: Well, look, it's a little early for us to be giving any type of guidance for 2025. But look, we think that our fundamental growth algorithm kind of holds true. And so when we look at 2025, we continue to see strong fundamentals in our business. That includes a continuation of solid U.S. and Canada organic tenant billings growth, even while we're still absorbing some headwinds associated with that final tranche of spread churn that happens in Q4 of this year. We see leasing volumes in Africa and Europe remaining positive with churn remaining low in Europe and an expectation for further moderation in China and Africa. Continued strong growth from CoreSite, especially as we're commencing those kind of record levels of new business that we've signed since the transaction was consummated. And we'll complement that topline growth with, again, continuing to focus on margin expansion and cost discipline and continue to be very disciplined in our capital allocation. Now that growth can be a little bit offset by the headwinds we have in Latin America because we do see an elevated consolidation churn environment there for the next few years, and that's going to keep Latin America kind of in that low single-digit growth. And then again, when you think about 2025 and beyond, there's a lot of variables that we're keeping our eyes on, like FX rates, interest rates, services, is inherently harder to predict. So we won't be trying to guide anything on that until early next year. And then the timing of the India closing will also have an impact on what that AFFO per share growth ra

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SEC filings for AMT · Claim quote is verbatim from the 2024Q1 earnings call.