Cencora, Inc. reports news around its role as a global pharmaceutical solutions organization that distributes branded, generic and specialty pharmaceuticals to pharmacies, hospital networks and healthcare providers. Company updates also cover commercialization services for pharmaceutical and medical-device manufacturers, specialty drug logistics through World Courier, animal health distribution through MWI Animal Health and international wholesale activity following the Alliance Healthcare acquisition.
Recurring developments include fiscal operating results, gross profit drivers, LIFO effects, GLP-1 product mix and performance in U.S. Healthcare Solutions. News also covers completed acquisitions such as OneOncology and Retina Consultants of America, senior note financing, shareholder and governance matters, and executive leadership transitions.
American Tower announced its acquisition of CoreSite Realty for $170.00 per share, totaling approximately $10.1 billion including debt. The merger aims to enhance American Tower’s offerings in the evolving 5G landscape, accelerating growth in mobile edge computing. CoreSite has shown impressive financials with $655 million in annual revenue and strong EBITDA margins, and has experienced double-digit growth over five years. The deal is expected to close by the end of 2021, proving accretive to American Tower’s AFFO initially and more so over time.
American Tower Corporation (AMT) announced it will acquire CoreSite Realty Corporation (COR) for $170 per share in cash, totaling approximately $10.1 billion, including debt repayment. This strategic move aims to create a comprehensive communications real estate platform, enhancing the companies' positions in the growing 5G market. CoreSite’s strong performance, with annual revenue of $655 million and an EBITDA of $343 million, coupled with American Tower's global reach, is expected to accelerate growth and broaden service offerings. The transaction is projected to close by the end of 2021.
CoreSite Realty Corporation (NYSE:COR) is co-presenting the Infinity Festival 2021 in Hollywood, CA from November 2-4. The festival merges storytelling and technology, showcasing innovations in media and entertainment, featuring both in-person and virtual events. CoreSite aims to demonstrate how its interconnection solutions support media clients in monetizing their business. 5G technology will be highlighted, with discussions on its pivotal role in immersive media. Key speakers include CoreSite's Brian Eichman, presenting on 5G's Starring Role in Immersive Media on November 3.
CoreSite Realty Corporation (NYSE:COR) reported strong Q3 2021 financial results, showcasing a 6.4% year-over-year revenue growth to $163.9 million. Net income remained stable at $0.50 per diluted share. Notably, adjusted EBITDA rose 5.2% to $85.7 million, while Funds From Operations (FFO) increased 4.5% to $1.39 per share. The company renewed 296 leases, reflecting an increase in cash and GAAP rent. Updated guidance for capital expenditures is now $140 million to $150 million, a reduction from the earlier range. Overall, CoreSite's strategic leasing and development activities remain robust.
CoreSite Realty Corporation (NYSE:COR) will host its third quarter 2021 earnings conference call on October 28, 2021, at 12:00 p.m. ET. Financial results will be released before market open on the same day. Investors can join the call by dialing 1-877-407-3982 (domestic) or 1-201-493-6780 (international). A replay will be available until November 4, 2021. The call will also be broadcast as a webcast on the company's website, providing insights into its performance and strategies.
CoreSite Realty Corporation (NYSE:COR) announced the successful completion of its annual compliance examinations for colocation services across 22 data centers. This achievement reinforces its commitment to operational excellence and customer experience, facilitating industry standard compliance. The examinations included SOC 1 Type 2, SOC 2 Type 2, ISO 27001, NIST 800-53, PCI DSS, and HIPAA certifications. Conducted by Schellman & Company, these validations provide assurance of CoreSite’s robust security and operational controls, essential for customers in various sectors.
CoreSite Realty Corporation (NYSE:COR) has announced a cash dividend of $1.27 per share on common stock for Q3 2021, maintaining the previous quarter's amount. The dividend is scheduled for payment on October 15, 2021, to shareholders of record as of September 30, 2021. CoreSite is recognized for its secure, reliable data center campuses with high uptime and provides cloud access and interconnection solutions across major U.S. markets, serving over 1,375 enterprises, network operators, and cloud providers.
CoreSite Realty Corporation (NYSE:COR) will present at the 7th Annual Cowen Communications Infrastructure Summit on August 10th. Chief Revenue Officer Steve Smith is scheduled to speak at 9:30 AM Mountain Time in Boulder, CO. Investors can access the live presentation through the Investor Relations section on CoreSite's website, with a replay available afterward. CoreSite is known for its secure, high-uptime data centers and scalable solutions, connecting a diverse customer ecosystem across eight North American markets.
CoreSite Realty Corporation (NYSE:COR) reported strong Q2 2021 results, with operating revenues of $162.1 million, a 7.7% year-over-year increase. Net income was $28.5 million, translating to $0.59 per diluted share, up by $0.07 year-over-year. Adjusted EBITDA grew by 7.1% to $87.4 million. The company commenced 133 new leases, generating $8.4 million in annualized GAAP rent. Key developments included a new chiller plant project aimed at enhancing energy efficiency. CoreSite updated its full-year revenue guidance to $645-$653 million, reflecting positive growth projections.
CoreSite Realty Corporation (NYSE:COR) has announced support for Google Cloud's Partner Interconnect, enhancing its Silicon Valley campus with low-latency fiber connectivity. This service enables direct internet peering and Dedicated Interconnect options, offering secure 10G and 100G connectivity at competitive costs. The expansion caters to local enterprises requiring high bandwidth and low latency for data transfer, reinforcing CoreSite's growing capabilities across multiple U.S. markets. This strategic development enhances customer options for optimal cloud access and interoperability amidst increasing performance demands.