CROWN CASTLE INC. (CCI) Form 8-K — Oct 21, 2026
Crown Castle reported Q3 2026 results with site rental revenues of $966M (down 4.5% YoY), net income of $283M (down 12%), and Adjusted EBITDA of $673M (down 6%), pressured by $61M of DISH lease terminations and Sprint Cancellations. On the positive side, AFFO rose 8% to $530M and AFFO per share jumped 11% to $1.24, driven by lower interest expense and fewer shares outstanding after deploying $8.4B in net proceeds from the completed Fiber Business sale. Management raised the full year 2026 outlook modestly: Adjusted EBITDA midpoint up $25M to $2,715M, AFFO up $5M, and site rental revenues up $20M on contractual term extensions and ground lease buyout efficiencies.
Key figures
- Eps
- 0.67
- Revenue
- 995000000
- Guidance
- FY2026 outlook raised: site rental revenues $3,853-$3,898M (+$20M midpoint), Adjusted EBITDA $2,690-$2,740M (+$25M), AFFO $1,955-$2,005M (+$5M), AFFO/share $4.54-$4.66 (+$0.01), net income $755-$1,035M
- Net Income
- 283000000
- Total Debt
- 17599000000
- Revenue Yoy
- -7.2% (net revenues $995M vs $1,072M; site rental -4.5%)
- Cash Position
- 305000000
- Shares Outstanding
- 426000000
- Towers
- ~40,000
- Affo q3
- $530M, +8% YoY
- Net debt
- $17,599M
- Affo per share q3
- $1.24, +11% YoY
- Dividends paid q3
- $452M aggregate, $1.0625/share
- Adjusted ebitda q3
- $673M vs $718M (-6%)
- Fixed rate debt pct
- 97%
- Revolver availability
- ~$4.0B (CFO cited ~$3.9B)
- Net debt to lqa ebitda
- 6.5x
- Capital expenditures q3
- $66M (+57% YoY)
- Fiber sale net proceeds
- $8.4B (completed May 1, 2026)
- Dish termination impact q3
- $61M unfavorable
- Organic growth ex dish sprint
- 3.5% (3.8% ex-DISH)
- Share repurchases nine months
- $1,043M
AI analysis
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