![]() Liquidity and Financing Activities – As of March 31, 2023, the Company had approximately $7.7 billion of total liquidity, consisting of approximately $1.8 billion in cash and cash equivalents plus the ability to borrow an aggregate of approximately $5.9 billion under its revolving credit facilities, net of any outstanding letters of credit. Q1 2023 Adjusted EBITDA multiplied by four. Leverage – For the quarter ended March 31, 2023, the Company’s Net Leverage Ratio was 5.2x net debt (total debt less cash and cash equivalents) to first quarter 2023 annualized Adjusted EBITDA. The sale did not qualify for presentation as a discontinued operation. Prior to the sale, Mexico Fiber’s operating results were included within the Latin America property segment. As a result of the transaction, the Company disposed of $20.7 million of goodwill based on the relative fair value of Mexico Fiber and the portion of the applicable goodwill reporting unit that was expected to be retained. Other Events – On March 29, 2023, the Company completed the sale of Mexico Fiber for total consideration of $252.5 million, resulting in a loss on the sale of $80.0 million, which was included in Other operating expenses. The remaining balance of approximately $51 million represents cash paid associated with sites that were acquired in 2022. $10 million was paid to acquire 8 communications sites, as well as other communications infrastructure assets, in the United States,Ĭanada, Poland and Spain. ![]() For additional capital expenditure details, please refer to the supplemental disclosure package available on the Company’s website.Īcquisitions – During the first quarter of 2023, the Company spent approximately $61 million on acquisitions, of which approximately The distribution declared on Mawill be paid on Apto stockholders of record as of the close of business on April 14, 2023.Ĭapital Expenditures – During the first quarter of 2023, total capital expenditures were approximately $473 million, of which $39 million was for non-discretionary capital improvements and corporate capital expenditures. For financial information and reconciliations to GAAP measures, please refer to the “Unaudited Selected Consolidated Financial Information” below.ĭistributions – During the quarter ended March 31, 2023, the Company declared the following regular cash distributions to its common stockholders: Please refer to “Non-GAAP and Defined Financial Measures” below for definitions and other information regarding the Company’s use of non-GAAP measures. Q1 2023 cash capital expenditures include $13.8 million of finance lease and perpetual land easement payments reported in cash flows from financing activities in the condensed consolidated statements of cash flows. Q1 2023 growth rates impacted by the Company’s sale of one of its subsidiaries in Mexico that held fiber assets (“Mexico Fiber”), which resulted in a loss of approximately $80.0 million. Q1 2023 growth rates impacted by foreign currency losses of approximately $84.1 million in the current period as compared to foreign currency gains of approximately $242.1 million in the prior-year period. Together with our dividend, which we grew approximately 11% year over year in Q1, we believe this approach positions us to maximize growth and total shareholder returns for years to come.”Īmerican Tower generated the following operating results for the quarter ended March 31, 2023 (all comparative information is presented against the quarter ended March 31, 2022). We remain focused on disciplined capital allocation, strengthening our investment grade balance sheet and maximizing returns on our top-line growth through prudent cost controls that will drive meaningful margin expansion. In Q1, we saw an acceleration in Organic Tenant Billings Growth, another record quarter of signed new business at CoreSite and our 11th consecutive quarter of delivering over 1,000 built sites, all of which demonstrates resilient demand across our portfolio of distributed real estate assets as carriers continue to invest in their 4G and 5G networks. Tom Bartlett, American Tower’s Chief Executive Officer, stated, “We’re off to a strong start in 2023. ![]() BOSTON-( BUSINESS WIRE)-American Tower Corporation (NYSE: AMT) today reported financial results for the quarter ended March 31, 2023. ![]()
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