Crown Castle : Q1 2026 Earnings Presentation FINAL

Published: 2026-04-22 16:44:53 ET CCI

Published on 04/22/2026 at 04:44 pm EDT

April 22, 2026

First Quarter 2026

Earnings Conference Call

PAGE 1

First Quarter 2026 Earnings Conference Call

The pathway to possible.

Q1 2026 Results

($ in millions)

Site Rental Revenues Adjusted EBITDA(1) AFFO(1)

$1,011

↓ ($50)

$961

$722

↓ ($47)

$675

↓ ($33)

$479 $446

Q1 2025

Results

Q1 2026

Results

Q1 2025

Results

Q1 2026

Results

Q1 2025

Results

Q1 2026

Results

1. See "Non-GAAP Measures and Other Information" in the Supplemental Information Package for reconciliations of non-GAAP measures.

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First Quarter 2026 Earnings Conference Call

Full Year 2026 Outlook Remains Unchanged

($ in millions)

Site Rental Revenues Adjusted EBITDA(1) AFFO(1)

$4,049

$3,828 to $3,873

Midpoint: $3,850

↓ (4.9%)

YoY Growth(2)

$2,863

$2,665 to $2,715

Midpoint: $2,690

↓ (6.0%)

YoY Growth(2)

$1,904

$1,895 to $1,945

Midpoint: $1,920

↑ 0.8%

YoY Growth(2)

2025

Actuals

Current FY 2026

Outlook(3)

2025

Actuals

Current FY 2026

Outlook(3)

2025

Actuals

Current FY 2026

Outlook(3)

See "Non-GAAP Measures and Other Information" in the Supplemental Information Package for reconciliations of non-GAAP measures.

Based on midpoint of current 2026 Outlook range as compared to full year 2025 actuals.

As issued on April 22, 2026, and unchanged from previous full year 2026 Outlook issued on February 4, 2026.

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First Quarter 2026 Earnings Conference Call

2026 Outlook for Organic Contribution to Site Rental Billings(1), Change in Site Rental Revenues

($in millions)

$100

$130

($30)

($5)

Sprint

$65

DISH

Non-Cash Items

($240)

($110)

($70)

($20)

($200)

($220)

($20)

Core Leasing Activity

Plus: Escalator

Less: Non-Renewal

Less: Change in Other Billings

Organic Contribution to Site Rental Billings

Excluding Impact of DISH Terminations &

Less: DISH Terminations & Sprint

Cancellations(2)

Organic Contribution to Site Rental Billings

Change in Straight-Line Adjustment

Change in Amortization of Prepaid Rent

Growth in Site Rental Revenues

Previous FY 2026

Outlook(3)

Sprint Cancellations(2)

$65

$100

($30)

($5)

$130

($240)

($110)

($70)

($20)

($200)

Reflects midpoints of 2026 Outlook as issued on April 22, 2026, and unchanged from previous full year 2026 Outlook issued on February 4, 2026. See "Non-GAAP Measures and Other Information" in the Supplemental Information Package for reconciliations of non-GAAP measures.

As defined in the Supplemental Information Package.

PAGE 5

First Quarter 2026 Earnings Conference Call

Represents midpoint of previous full year 2026 Outlook as issued on February 4, 2026.

2026 Outlook for Change in AFFO(1)

($ in millions)

$120

$15

($25)

$25

$5

($110)

Organic Contribution to Site Rental Billings

Change in Expenses

Change in Services Contribution

Change in Interest Expense

Other 2026E

AFFO Growth

($110)

$25

$5

$120

($25)

$15

Previous FY 2026

Outlook(2)

1.

Reflects midpoints of 2026 Outlook as issued on April 22, 2026, and unchanged from previous full year 2026 Outlook issued on February 4, 2026. See "Non-GAAP Measures and Other Information" in the Supplemental Information Package for reconciliations of non-GAAP measures.

Represents midpoint of previous full year 2026 Outlook as issued on February 4, 2026.

PAGE 6

First Quarter 2026 Earnings Conference Call

2.

First Quarter 2026 Earnings Conference Call

Disclaimer

Crown Castle Inc. published this content on April 22, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 22, 2026 at 20:42 UTC.