“we saw another quarter of accelerating new business moving organic tenant billings growth in the region to 5.7% and giving us confidence to modestly raise our full year outlook for the segment”

In context

“w business signed over the last two years continues to commence. Moving to the right side of the slide, consolidated organic tenant billings growth was 5.3%, supported by strong demand for our assets across our global portfolio. In our US and Canada segment, organic tenant billings growth was 5.1% and over 6% absent Sprint related churn, we expect a relatively similar growth rate in Q3 before a step down in Q4 as we commence the final tranche of contracted Sprint churn, all supportive of our 2024 outlook expectation of approximately 4.7%. Our International segment drove 5.5% in organic tenant billings growth, reflecting additional moderation in CPI-linked escalators as expected, and a sequential step down in colocation and amendment contributions, most notably in APAC. However, in Europe, we saw another quarter of accelerating new business moving organic tenant billings growth in the region to 5.7% and giving us confidence to modestly raise our full year outlook for the segment, which I'll touch on shortly. Turning to slide 9. Adjusted EBITDA grew 8.1% or nearly 12%, excluding the impacts of non-cash straight line, while absorbing approximately 210 basis points in FX headwinds, cash, adjusted EBITDA margins improved approximately 300 basis points year-over-year to 64.7%, which includes a roughly 80 basis point benefit in the quarter associated with India reserve reversals as compared to a drag of nearly 50 basis points in the year ago period. Absent these onetime items, we're continuing to demonstrate meaningful cash margin improvements supported by the inherent operating leverage in the tower model and continued cost management throughout the business. In fact, cash, SG&A, excluding bad debt, declined approximately 2.5% year-over-year in the quarter. Moving to”