Crown Castle Inc. · NYSE:CCI
Crown Castle — Q4 2025 Earnings Presentation
9 slides from Crown Castle's earnings presentation, Feb 4, 2026
Slide 1: Fourth Quarter 2025 Earnings Conference Call
February 4, 2026 Fourth Quarter 2025 Earnings Conference Call The pathway to possible. PAGE 1 Fourth Quarter 2025 Earnings Conference Call
Slide 2: Cautionary Language
Cautionary Language This presentation contains forward-looking statements and information (“Forward-Looking Statements”) that are based on our management's current expectations. Statements that are not historical facts are hereby identified as Forward-Looking Statements. In addition, words such as "
Slide 3: Full Year 2025 Results
Full Year 2025 Results ($ in millions) (1) (1) Site Rental Revenues Adjusted EBITDA AFFO $4,010 $4,030 $4,049 $2,780 $2,835 $2,863 ↑ $19 $1,870 $1,904 $1,795 ↑ $28 ↑ $34 Initial Previous 2025 Initial Previous 2025 Initial Previous 2025 2025 2025 Actuals 2025 2025 Actuals 2025 2025 Actuals (2) (3) (2
Slide 4: Full Year 2026 Outlook
Full Year 2026 Outlook ($ in millions) (1) (1) Site Rental Revenues Adjusted EBITDA AFFO $3,828 to $3,873 $4,049 Midpoint: $3,850 $2,665 to $2,715 $2,863 Midpoint: $2,690 $1,895 to $1,945 Midpoint: $1,920 ↓ (4.9%) $1,904 YoY Growth(2) ↓ (6.0%) (2) YoY Growth ↑ 0.8% (2) YoY Growth 2025 Current 2025 C
Slide 5: 2026 Outlook for Organic Contribution to Site Rental Billings
2026 Outlook for Organic Contribution to Site Rental Billings(1), Change in Site Rental Revenues ($in millions) $100 $130 ($30) ($20) Sprint ($5) $65 ($220) DISH Non-Cash Items ($240) ($110) ($70) ($20) ($200) Core Leasing Plus: Less: Less: Change in Organic Less: DISH Organic Change in Change in Gr
Slide 6: 2026 Outlook for Change in AFFO
2026 Outlook for Change in AFFO(1) ($ in millions) $120 $15 ($25) $5 $25 ($110) Organic Change in Change in Change in Other 2026E Contribution to Expenses Services Interest AFFO Growth Site Rental Billings Contribution Expense FY 2025 ($11) $29 $18 ($36) ($75) ($76) Actuals 1. Reflects midpoints of
Slide 7: Updated Guidance Range for AFFO Following Fiber Business Sale Close
Updated Guidance Range for AFFO(1) for 12 Months Following Fiber Business Sale Close ($ in millions) $2,265 - $2,415 Midpoint: $2,340 ($280) $2,025 - $2,175 Midpoint: $2,100 $40 Prior Range (2) Impact from Removal of DISH Impact to Interest Expense from Updated Range(4) Contribution Increasing Debt
Slide 8: AFFO Guidance Range for Full Year 2026 and Months Following Fiber Business Sale Close
AFFO Guidance Range for Full Year 2026(1) and 12 Months Following Fiber Business Sale Close ($ in millions) Fiber Business Sale Assumed to Close on 6/30/2026 AFFO Guide for $1,920 Full Year 2026(1) AFFO Guide for 12 Months $2,100 Following Close Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q1 2027 Q2 2027 1. Ref
Slide 9: AFFO Guidance Range for Full Year 2026 to Months Following Fiber Business Sale Close
AFFO Guidance Range for Full Year 2026(1) to 12 Months Following Fiber Business Sale Close ($ in millions) $10 $2,100 $50 $120 $1,920 AFFO Guide for Interest Growth in Cost Savings AFFO Guide for (1) Full Year 2026 Expense Savings from Underlying Business Related to 2026 12 Months Debt Repayment Red