Crown Castle Reports Q3 2026 Results & Raises Full-Year 2026 Outlook

Crown Castle Inc. (NYSE: CCI) Q3 2026 Financial Results & Outlook Update

Key Takeaways:

1. Q3 2026 Performance:

   • Site Rental Revenues: Reached $966 million, a 5% decline compared to $1,012 million in Q3 2025, driven by DISH contract terminations ($61 million impact) and Sprint cancellations ($5 million impact), offset by organic leasing growth of 3.8% (excluding DISH).
   • Adjusted EBITDA: Reported at $673 million compared to $718 million in the prior-year period.
   • AFFO and Per Share Growth: AFFO increased 8% YoY to $530 million, while AFFO per share rose 11% to $1.24, benefiting from debt reduction using proceeds from the sale of the Fiber and Small Cell businesses.
   • Dividends: Maintained quarterly dividend at $1.0625 per share ($452 million aggregate payout).

2. Updated FY 2026 Outlook:

   • Site Rental Revenues Midpoint: Raised by $20 million to $3,875 million, driven by contractual term extensions.
   • Adjusted EBITDA Midpoint: Increased by $25 million to $2,715 million.
   • AFFO Midpoint: Raised by $5 million to $1,980 million ($4.60 per diluted share).
   • Discretionary Capex: Increased by $40 million due to accelerated ground lease buyout activity aimed at lowering ongoing ground lease costs.