Crown Castle Inc. · NYSE:CCI
Crown Castle — Q3 2023 Earnings Presentation
7 slides from Crown Castle's earnings presentation, Oct 19, 2023
Slide 1: Third Quarter 2023 Earnings Conference Call
October 19, 2023 Third Quarter 2023 Earnings Conference Call The pathway to possible. PAGE 1 Third Quarter 2023 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: Executive Summary
Executive Summary • Third-quarter results were in line with expectations, keeping us on track for our full year 2023 outlook,(1) which includes: o 5% towers organic revenue growth, and o ~10,000 small cell nodes. • We anticipate the strong underlying performance of the business to continue into 2024
Slide 4: Q3 2023 Results
Q3 2023 Results ($ in millions) Site Rental Revenues Adjusted EBITDA AFFO $1,568 $1,577 $1,077 $1,047 $804 $767 ↑ $9 / 1% ↓ ($30) / (3%) ↓ ($37) / (5%) Organic Contribution(1) 4% Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Results Results Results Results Results Results 1. Organic Contribution t
Slide 5: Full Year 2023 and 2024 Outlook
Full Year 2023 and 2024 Outlook ($ in millions) Site Rental Revenues Adjusted EBITDA AFFO $6,488 to $6,347 $6,533 to $6,289 $6,392 $4,399 to $4,138 $4,340 $4,444 to $4,188 $3,261 to $2,980 $3,200 $3,296 to $3,030 ↑ 4% ↓ (2%) ↑ 2% ↓ (6%) YoY YoY YoY YoY Growth(1) Growth(1) Growth(1) Growth(1) ↑ 2% ↓
Slide 6: 2024 Outlook for Organic Contribution to Site Rental Billings, Change in Site Rental Revenues
2024 Outlook for Organic Contribution to Site Rental Billings, Change in Site Rental Revenues ($ in millions) $95-$105 $305-$335 $245-$285 ($165)-($145) $70-$110 ($170)-($160) ($10) ($100)-($75) ($165)-($140) ($170)-($130) Core Leasing Plus: Less: Organic Less: Payments Less: Sprint Organic Change i
Slide 7: 2024 Outlook for Change in AFFO
2024 Outlook for Change in AFFO ($ in millions) $245-$285 ($60)-($30) ($70)-($40) $0-$10 $40-$90 ($130)-($85) ($170)-($160) ($10) ($165)-($140) ($290)-($240) Organic Increase in Change in Change in Cash Other (1) 2024E AFFO Payments for Sprint Change in 2024E AFFO (2) Contribution to Expenses Servic