CCI
Crown Castle Inc.87.90
-1.59-1.78%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms guidance, adds leasing visibility
Q&A largely reaffirmed prepared guidance on DISH termination—seeking $3.5B+ recovery—and fiber sale progress, confirming steady approvals for H1 close and unchanged $8.5B price. Management revealed 80% of 2026 organic growth contracted, DISH contributed $50M last year, and leasing activity mirrors prior years excluding it. They expect 3.5% growth as the trough, buoyed by spectrum auctions and data demand. Capex eyes selective new builds needing dual tenants. DISH enforcement drew probes; answers stayed vague on timelines. No contradictions, but execution matters.
Key Stats
Market Cap
38.28BP/E (TTM)
-Basic EPS (TTM)
-9.05Dividend Yield
0.06%Recent Filings
8-K
Approves exec incentives, dividend
Crown Castle's Board approved the 2026 EMT Annual Incentive Plan on February 25, effective January 1 through December 31, tying executive cash bonuses to Adjusted EBITDA and organic revenue growth versus budget. It also declared a $1.0625 quarterly dividend per share, payable March 31 to holders of record March 13. Committee retains full discretion to amend or scrap payouts.
10-K
FY2025 results
Crown Castle's FY2025 towers delivered steady site rental revenues of $4.0B, down 5% y/y from $4.3B amid $204M non-renewals from T-Mobile/Sprint consolidation, yet Adjusted EBITDA held at $2.9B with 6% decline as SG&A fell 12% post-restructurings. Q4 momentum stabilized with recurring contracts yielding $23.7B future inflows over six years average term, while net cash from operations rose to $3.1B. Debt stands at $24.3B with 3.9% weighted rate and six-year maturity, bolstered by $6B revolver availability; dividends cut to $4.75/share totaling $2.1B. Fiber sale to Zayo/EQT for $8.5B, eyed for H1 2026 close, books $1.6B loss but unlocks deleveraging. Tenant concentration risks loom large.
8-K
20% headcount cut, $65M savings
Crown Castle launched a restructuring plan on February 4, 2026, slashing tower and corporate headcount by 20% to boost towers efficiency, expecting $30M charges mostly in Q1-Q2 2026 and $65M annualized savings. Actions wrap by Q2 2026. No tax benefit as REIT. Savings may falter if retention suffers.
8-K
Terminates DISH lease, seeks $3.5B
10-Q
Q3 FY2025 results
Crown Castle's Q3 site rental revenues dipped 5% y/y to $1,012M from $1,066M, while total net revenues fell 4% to $1,072M, mainly from Sprint Cancellations non-renewals; operating income held steady at $525M. Diluted EPS from continuing operations matched $0.64, confirmed against 437M shares. Cash from continuing operations hit $2.2B YTD, with capex at $123M yielding FCF of $2,064M (derived); total debt $24.3B, $6.1B revolver availability. Signed March 2025 deal to sell Fiber Business for $8.5B cash to Zayo/EQT, expected H1 2026 close, recognizing $1.3B YTD disposal loss. Signed new CEO in July. Tower non-renewals pressure bookings.
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