American Tower Corporation (NYSE:AMT) TD Cowen 9th Annual Communications Infrastructure Summit Conference Call August 8, 2023 1:15 PM ET Company Participants Steve Vondran - Executive Vice President and President, U.S. Tower Conference Call Participants Greg Williams - TD Cowen Greg Williams Alright. LetÂ's get started. Good morning. For those of you who donÂ't know me, my name is Greg Williams. I work at TD Cowen covering the cable, wireless towers and telco space, joined today at this session by Steve Von ...

Summary of American Tower Corporation Conference Call Company Overview - **Company**: American Tower Corporation (NYSE: AMT) - **Event**: KeyBanc Capital Markets Technology Leadership Forum - **Date**: August 7, 2023 - **Participants**: Ed Knapp (CTO), Brandon Nispel (KeyBanc Capital Markets) Key Industry Insights 5G Deployment and Capital Spending - The U.S. 5G deployment has progressed through multiple phases, with approximately **50% of American Tower's sites touched by 5G** [6][7] - The first phase focused on coverage, while the second phase will emphasize building demand and enhancing network performance [8][9] - Operators are expected to continue capital investments to cover suburban and rural areas, indicating a long tail of growth ahead [8][10] Technology Deployment Variations - Different operators are employing various technologies for 5G deployment, including **massive MIMO** and **carrier aggregation** [15][16] - The U.S. market has seen a delay in mid-band spectrum availability, impacting the speed of 5G rollout compared to other countries [16][18] - The introduction of **dual-band radios** is anticipated to enhance carrier aggregation and performance [20][26] Future Use Cases and Demand Drivers - Emerging applications such as **fixed wireless**, **4K video**, and **mixed reality** (e.g., Apple VisionPro) are expected to drive significant bandwidth demand [13][29][33] - The potential for **Voice over NR** and enhanced interactive video experiences could transform mobile network usage [32][33] - The automotive sector and machine-to-machine communications are identified as future growth areas, with 5G modems starting to enter production [34] Operational Insights Power Consumption and Sustainability - American Tower is focusing on optimizing power consumption at sites, particularly in regions with unreliable grids, using solar and battery solutions [43][44] - The company is exploring shared power solutions to enhance efficiency and sustainability [45] AI and Data Center Integration - AI is seen as a transformative force for the CoreSite business, facilitating hybrid multi-cloud models and enhancing interconnection capabilities [47][49] - The integration of AI computing closer to tower sites is viewed as an opportunity to improve operational efficiency and reduce power consumption [50] Additional Considerations - The complexity of deploying 5G technology, including the need for various radio configurations and power management, presents challenges for operators [41][42] - The ongoing evolution of device costs and capabilities is expected to further drive 5G adoption and market penetration [18][19] This summary encapsulates the critical points discussed during the conference call, highlighting American Tower's strategic focus on 5G deployment, technology advancements, and operational efficiencies.

American Tower Corporation (NYSE:AMT) Q2 2023 Earnings Conference Call July 27, 2023 8:30 AM ET Company Participants Adam Smith - SVP, IR Tom Bartlett - President and CEO Rod Smith - EVP, CFO and Treasurer Conference Call Participants Eric Luebchow - Wells Fargo Simon Flannery - Morgan Stanley Matthew Niknam - Deutsche Bank Michael Rollins - Citigroup Inc. Richard Prentiss - Raymond James Jonathan Atkin - RBC Capital Markets Gregory Williams - TD Cowen Batya Levi - UBS Unidentified Analyst - Operator Ladie ...

Financial Performance - Q2 2023 - Total property revenue increased by 4.4% year-over-year to $2729 million, or 6.3% on an FX-neutral basis[4] - Total revenue increased by 3.6% year-over-year to $2772 million, or 5.6% on an FX-neutral basis[4] - Adjusted EBITDA increased by 4.7% year-over-year to $1749 million, or 5.9% on an FX-neutral basis, with a margin of 63.1%[4] - AFFO attributable to AMT common stockholders decreased by 0.4% year-over-year to $1151 million, but increased 0.9% on an FX-neutral basis[4] - Net income attributable to AMT common stockholders decreased by 47% year-over-year to $476 million, impacted by foreign currency losses[4] Outlook and Growth - The company is raising the 2023 property revenue midpoint by approximately $125 million[12] - The company is raising the 2023 Adjusted EBITDA outlook midpoint by approximately $75 million, resulting in a 63.2% margin[15] - The company is raising the 2023 Organic Tenant Billings Growth outlook from approximately 5.5% to approximately 6.5%[14] - The company is increasing the Attributable AFFO per Share midpoint by $0.05 versus the prior outlook[18] Capital Allocation and Balance Sheet - The company maintains a strong liquidity position of $8.2 billion[20] - The company has reduced floating rate debt exposure to below 15%[22]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One): ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended June 30, 2023. ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 001-14195 AMERICAN TOWER CORPORATION (Exact name of registrant as specified in its charter) Delaware 65-0723837 (State or other jurisdiction of Incorporation or Orga ...

Start Time: 11:45 January 1, 0000 12:15 PM ET American Tower Corporation (NYSE:AMT) Nareit REITweek 2023 Investor Conference June 07, 2023, 11:45 AM ET Company Participants Tom Bartlett - President and CEO Conference Call Participants Rick Prentiss - Raymond James Rick Prentiss All right. Good morning still, everybody. We'll be going into good afternoon soon. I'm Rick Prentiss, head of telecom services research for Raymond James. We will keep Nareit on schedule, although the Elevator Bank is way better here ...

American Tower Corporation (NYSE:AMT) 51st Annual J.P. Morgan Global Technology, Media and Communications Conference May 22, 2023 2:30 PM ET Company Participants Rod Smith - CFO Conference Call Participants Phil Cusick - J.P. Morgan Phil Cusick Hi, thanks for joining us. My name is Phil Cusick. I follow the Communications Services and Media Space here at J.P. Morgan. Welcome to the 51st Annual J.P. Morgan Media and Communications and Tech Conference. I want to welcome Rod Smith, CFO of American Tower and Tr ...

Summary of American Tower Corporation Conference Call Company Overview - **Company**: American Tower Corporation (NYSE: AMT) - **Event**: SVB MoffettNathanson's Inaugural Technology, Media, and Telecom Conference - **Date**: May 17, 2023 Key Industry Insights - **U.S. Business Segment**: The largest segment for American Tower, with a focus on growth driven by customers like DISH, T-Mobile, AT&T, and Verizon [3][5][10] - **DISH's Role**: Although DISH is a small contributor (less than 1% of overall revenue), it is expected to support long-term growth targets of at least 5% organic tenant billings growth from 2023 through 2027 [6][10] - **Growth Targets**: American Tower aims for 5% net growth through 2027 in the U.S., with 6% growth excluding Sprint churn [5][7] Financial Performance and Projections - **Tenant Billings**: The U.S. tenant billings business is approximately $4.5 billion, with a 3% escalator in revenue expected [8][20] - **Churn Rate**: The company anticipates a churn rate of about 1.6% to 1.7% excluding Sprint, with a target of 2% overall [31][32] - **Growth Lock-In**: Approximately 75% of the growth target is locked in through contracted minimums, with 90-95% locked in for 2023 [9][22] Strategic Considerations - **Densification Needs**: The company sees densification as a critical driver for future growth, particularly with the rollout of 5G and mid-band spectrum [23][27] - **International Operations**: American Tower is assessing strategic options for its India business due to high volatility and is focusing on capital recycling towards more stable markets [39][42] - **European Market**: The company is satisfied with its scale in Europe and believes that captive tower businesses will eventually be monetized [50][54] Capital Allocation Strategy - **Deleveraging Focus**: The company aims to reduce leverage to below 5x over the next 24 months, which is a priority for financial policy [74][75] - **Share Repurchases**: While the company is focused on deleveraging, it may consider opportunistic share repurchases if comfortable with its trajectory [75] Emerging Opportunities - **CoreSite Growth**: The data center platform is experiencing healthy growth, with a record level of leasing activity and a focus on digital platforms and hybrid IT solutions [59][60][64] - **Potential New Tenants**: The company is exploring opportunities with satellite broadband providers and cable companies, although no specific deals are currently in place [36][37] Conclusion American Tower Corporation is strategically positioned for growth in the U.S. and international markets, with a focus on densification, capital allocation, and leveraging its existing customer relationships. The company is committed to maintaining a strong financial position while exploring new opportunities in the evolving telecommunications landscape.

American Tower Corporation (NYSE:AMT) Q1 2023 Results Conference Call April 26, 2023 8:30 AM ET Company Participants Adam Smith - SVP, IR Tom Bartlett - President and CEO Rod Smith - EVP, CFO and Treasurer Conference Call Participants Brett Feldman - Goldman Sachs Landon Park - Morgan Stanley Rick Prentiss - Raymond James Michael Rollins - Citi Matt Niknam - Deutsche Bank David Barden - Bank of America Batya Levi - UBS Brandon Nispel - KeyBanc Capital Markets Eric Luebchow - Wells Fargo Operator Ladies and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One): ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended March 31, 2023. ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Commission File Number: 001-14195 | --- | --- | --- | |-----------------------------------------|----------------------------------------------------------------------------------|-------- ...