American Tower(AMT) - 2023 Q2 - Earnings Call Presentation

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]