American Tower Corporation's (AMT) Management Presents at Nareit's REITweek: 2022 Investor Conference (Transcript)

Jun. 08, 2022 4:53 PM ETAmerican Tower Corporation (AMT)
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American Tower Corporation (NYSE:AMT) Nareit's REITweek: 2022 Investor Conference Call June 8, 2022 1:15 PM ET

Company Participants

Rod Smith - Executive Vice President, Chief Financial Officer and Treasurer

Conference Call Participants

Brent Penter - Raymond James, Inc.

Brent Penter

All right. I think we are good to get started. Thanks, everyone, for being here. I'm Brent Penter with Raymond James Telecom Research. My colleague, Ric Prentiss couldn't be here today because he had his first grandchild about 12 hours ago, I think, so thinking of him and his family and excited for all of them and happy everyone's here in person. So I'm here with Rod Smith, CFO of American Tower. Rod, it's good to see you.

Rod Smith

Yes. Good afternoon, Brent. Thanks for joining me here and thanks everyone for joining.

Question-and-Answer Session

Q - Brent Penter

Yes. So a lot's happened in the last year. Number one, we are back in person. American Tower has been very busy with the acquisition of CoreSite. You had a lot of activity on the U.S. leasing front. You had your first slug of T-Mobile, Sprint churn hit. And then a lot happening on the macro side and interest rates have basically doubled in that time. So all topics that we'll get to, but just want to start with the core U.S. tower leasing business. You all have given guidance not just for 2022, but some higher level guidance out through, I believe it's 2027. So what are the key drivers behind that guidance and what gives American Tower the confidence to give guidance so far in advance?

Rod Smith

Yes. Thanks, Brent, and it's great to be here with all of you. A lot of familiar faces in the audience. So thanks for the continued support and attendance. So many of you have heard us

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