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Crown Castle

Guidance from Crown Castle’s last 8 earnings releases. Every value links to its sentence in the filing. See something wrong? Tell us.
Current guidance
95 items
Releases tracked
8
Latest release
Jul 22, 2026
Data checked
Jul 22, 2026
On this page:Latest changes·Current guidance·Your sector group·History

What changed in the Jul 22, 2026 release

Each item compared with the same item in the previous release (Apr 22, 2026). Values in quotation marks are the company’s words.

New — first stated in this releaseRaised / Lowered / Narrowed / Widened — changed from the prior releaseRevised — wording changed, direction not determinableChanged — value changed; the comparison couldn’t be parsed to a directionReiterated — restated unchangedNot restated — stated before, absent nowRaised and lowered describe the number, not whether the change is favorable.
ChangeMetricPeriodPreviousNowSource
RaisedSite rental revenuesfor FY2026“3,828 to 3,873”“3,833 to 3,878”Filing ↗
RaisedNet income (loss)for FY2026“640 to 920”“730 to 1,010”Filing ↗
RaisedNet income (loss) per share—dilutedfor FY2026“1.48 to 2.12”“1.70 to 2.35”Filing ↗
LoweredServices and other gross marginfor FY2026“90 to 120”“70 to 100”Filing ↗
RaisedAFFOfor FY2026“1,895 to 1,945”“1,950 to 2,000”Filing ↗
RaisedAFFO per sharefor FY2026“4.38 to 4.49”“4.53 to 4.65”Filing ↗
NewDiscretionary capital expendituresfor FY2026—“150 to 250”Filing ↗
NewExpected growth in AFFO from 2025 to 2026for FY2026—“approximately $15 million at the midpoint”Filing ↗
RaisedFFOfor FY2026“1,640 to 1,670”“1,730 to 1,760”Filing ↗
NewOrganic Contribution to Site Rental Billings, excluding the impact of DISH Terminations and Sprint Cancellationsfor FY2026—“approximately $135 million or 3.4% at the midpoint, or 3.6% if DISH revenues are excluded from prior year site rental billings”Filing ↗
RaisedSite rental billingsfor FY2026“$3,800 to $3,830”“$3,805 to $3,835”Filing ↗
LoweredSite rental costs of operationsfor FY2026“978 to 1,023”“968 to 1,013”Filing ↗
ReiteratedOther revenuesfor FY2026“15 to 15”“15 to 15”Filing ↗
ReiteratedStraight-lined revenuesfor FY2026“(75) to (45)”“(75) to (45)”Filing ↗
ReiteratedAdjusted EBITDAfor FY2026“2,665 to 2,715”“2,665 to 2,715”Filing ↗
ReiteratedDepreciation, amortization and accretionfor FY2026“627 to 722”“627 to 722”Filing ↗
ReiteratedIncome (loss) from discontinued operations, net of taxfor FY2026“(360) to (80)”“(360) to (80)”Filing ↗
Show 16 items not restated in this release
ChangeMetricPeriodPreviousNowSource
Not restatedOther billings (Components of Changes in Site Rental Revenues, range)for FY2026“(5) to (5)”—Filing ↗
Not restatedNet income (loss) (Outlook Midpoint / Growth Rate vs FY2025)for FY2026“$780 76%”—Filing ↗
Not restatedNet income (loss) (Outlook table)for FY2026“640 to 920”—Filing ↗
Not restatedNet income (loss) per share—diluted (Outlook table)for FY2026“1.48 to 2.12”—Filing ↗
Not restatedAFFO per share (Outlook Midpoint / Growth Rate vs FY2025)for FY2026“$4.43 2%”—Filing ↗
Not restatedAFFO per share (Outlook table)for FY2026“4.38 to 4.49”—Filing ↗
Not restatedChange in other billings (Organic Contribution to Site Rental Billings component, midpoint)for FY2026“$(5) (0.1)%”—Filing ↗
Not restatedDebt repayment (following Fiber Business sale close)for FY2026“approximately $7 billion of debt”—Filing ↗
Not restatedDiscretionary capital expenditures from discontinued operationsfor FY2026“$480 to $580”—Filing ↗
Not restatedDISH Terminations and Sprint Cancellations impactfor FY2026“$240 million”—Filing ↗
Not restatedExpense savings from workforce reduction (services)for FY2026“$5 million”—Filing ↗
Not restatedOther billingsfor FY2026“(5) to (5)”—Filing ↗
Not restatedServices contributionfor FY2026“increase by approximately $5 million at the midpoint”—Filing ↗
Not restatedServices contribution changefor FY2026“increase by approximately $5 million at the midpoint”—Filing ↗
Not restatedDebt repaymentNo period stated“approximately $7 billion of debt”—Filing ↗
Not restatedTarget leveragefor the long term“6.0-6.5x”—Filing ↗

Current guidance

Guidance for periods that have not yet ended, at its most recent value, grouped by horizon.

Current fiscal year
MetricCurrent valuePeriodMeasureFirst statedTimes statedSource
Core leasing activity (Components of Changes in Site Rental Revenues, range)“60 to 70”for FY2026Company-definedApr 22, 20261Filing ↗
Escalators (Components of Changes in Site Rental Revenues, range)“95 to 105”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Non-renewals (Components of Changes in Site Rental Revenues, range)“(35) to (25)”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Organic Contribution to Site Rental Billings growth, excluding DISH revenues from prior year site rental billings“3.5%”for FY2026Company-definedApr 22, 20261Filing ↗
Organic growth (full year 2026 Outlook, excluding DISH revenues and Sprint Cancellations impact)“3.5%”for FY2026Company-definedFeb 4, 20261Filing ↗
Other billings (Components of Changes in Site Rental Revenues, range)“(5) to (5)”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Other revenues“15 to 15”for FY2026GAAP-tiedFeb 4, 20263Filing ↗
Site rental revenues“3,833 to 3,878”for FY2026GAAP-tiedFeb 4, 20262Filing ↗
Site rental revenues (Outlook Midpoint / Growth Rate vs FY2025)“$3,850 (5)%”for FY2026GAAP-tiedFeb 4, 20261Filing ↗
Site rental revenues (Outlook table)“3,828 to 3,873”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Site rental revenues as a percentage of prior year site rental revenues“(4.9)%”for FY2026GAAP-tiedFeb 4, 20262Filing ↗
Straight-line site rental revenues“decrease by approximately $70 million”for FY2026GAAP-tiedFeb 4, 20261Filing ↗
Straight-line site rental revenues change“decrease by approximately $70 million”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Straight-lined revenues“(75) to (45)”for FY2026GAAP-tiedFeb 4, 20263Filing ↗
Adjusted EBITDA“2,665 to 2,715”for FY2026Company-definedFeb 4, 20262Filing ↗
Adjusted EBITDA (Outlook Midpoint / Growth Rate vs FY2025)“$2,690 (6)%”for FY2026Company-definedFeb 4, 20261Filing ↗
Adjusted EBITDA (Outlook table)“2,665 to 2,715”for FY2026Company-definedApr 22, 20261Filing ↗
Net income (loss)“730 to 1,010”for FY2026GAAP-tiedFeb 4, 20262Filing ↗
Net income (loss) (Outlook Midpoint / Growth Rate vs FY2025)“$780 76%”for FY2026GAAP-tiedFeb 4, 20261Filing ↗
Net income (loss) (Outlook table)“640 to 920”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Net income (loss) per share—diluted“1.70 to 2.35”for FY2026GAAP-tiedFeb 4, 20262Filing ↗
Net income (loss) per share—diluted (Outlook Midpoint / Growth Rate vs FY2025)“$1.80 78%”for FY2026GAAP-tiedFeb 4, 20261Filing ↗
Net income (loss) per share—diluted (Outlook table)“1.48 to 2.12”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Services and other gross margin“70 to 100”for FY2026GAAP-tiedFeb 4, 20263Filing ↗
AFFO“1,950 to 2,000”for FY2026Company-definedFeb 4, 20262Filing ↗
AFFO (Outlook Midpoint / Growth Rate vs FY2025)“$1,920 1%”for FY2026Company-definedFeb 4, 20261Filing ↗
AFFO (Outlook table)“1,895 to 1,945”for FY2026Company-definedApr 22, 20261Filing ↗
AFFO growth (2025 to 2026)“approximately $15 million at the midpoint”for FY2026Company-definedFeb 4, 20261Filing ↗
AFFO growth from 2025 to 2026“approximately $15 million at the midpoint”for FY2026Company-definedApr 22, 20261Filing ↗
AFFO per share“4.53 to 4.65”for FY2026GAAP-tiedFeb 4, 20262Filing ↗
AFFO per share (Outlook Midpoint / Growth Rate vs FY2025)“$4.43 2%”for FY2026GAAP-tiedFeb 4, 20261Filing ↗
AFFO per share (Outlook table)“4.38 to 4.49”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Capitalized interest“(15) to (5)”for FY2026Company-definedFeb 4, 20262Filing ↗
Change in other billings (Organic Contribution to Site Rental Billings component, midpoint)“$(5) (0.1)%”for FY2026Company-definedApr 22, 20261Filing ↗
Core leasing activity“60 to 70”for FY2026Company-definedFeb 4, 20261Filing ↗
Core leasing activity (Organic Contribution to Site Rental Billings component, midpoint)“$65 1.8%”for FY2026Company-definedApr 22, 20261Filing ↗
Cost savings“$55 million”for FY2026Company-definedFeb 4, 20262Filing ↗
Cost savings due to timing“$55 million”for FY2026Company-definedFeb 4, 20262Filing ↗
Debt repayment (following Fiber Business sale close)“approximately $7 billion of debt”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Depreciation, amortization and accretion“627 to 722”for FY2026Company-definedFeb 4, 20263Filing ↗
Discretionary capital expenditures“150 to 250”for FY2026Company-definedJul 22, 20261Filing ↗
Discretionary capital expenditures“$150 million to $250 million”for FY2026Company-definedFeb 4, 20262Filing ↗
Discretionary capital expenditures (Outlook table)“150 to 250”for FY2026Company-definedApr 22, 20261Filing ↗
Discretionary capital expenditures from discontinued operations“$480 to $580”for FY2026Company-definedFeb 4, 20262Filing ↗
Discretionary capital expenditures less prepaid rent additions“$110 to $210”for FY2026Company-definedFeb 4, 20262Filing ↗
DISH Terminations and Sprint Cancellations impact“$240 million”for FY2026Company-definedFeb 4, 20262Filing ↗
DISH Terminations impact“$220 million”for FY2026Company-definedFeb 4, 20262Filing ↗
Escalators“95 to 105”for FY2026Company-definedFeb 4, 20261Filing ↗
Escalators (Organic Contribution to Site Rental Billings component, midpoint)“$100 2.7%”for FY2026Company-definedApr 22, 20261Filing ↗
Expected growth in AFFO from 2025 to 2026“approximately $15 million at the midpoint”for FY2026Company-definedJul 22, 20261Filing ↗
Expense savings from staffing and other cost reductions“approximately $50 million”for FY2026Company-definedFeb 4, 20261Filing ↗
Expense savings from workforce and other cost reductions“approximately $50 million”for FY2026Company-definedApr 22, 20261Filing ↗
Expense savings from workforce reduction (services)“$5 million”for FY2026Company-definedFeb 4, 20262Filing ↗
Expenses“decrease by approximately $25 million”for FY2026Company-definedFeb 4, 20261Filing ↗
Expenses change“decrease by approximately $25 million”for FY2026Company-definedApr 22, 20261Filing ↗
FFO“1,730 to 1,760”for FY2026Company-definedFeb 4, 20263Filing ↗
Fiber Business sale transaction expected closing“first half of 2026”for FY2026Company-definedOct 22, 20251Filing ↗
Income (loss) from discontinued operations, net of tax“(360) to (80)”for FY2026GAAP-tiedFeb 4, 20263Filing ↗
Interest expense“decrease by approximately $120 million”for FY2026GAAP-tiedFeb 4, 20261Filing ↗
Interest expense and amortization of deferred financing costs, net“832 to 877”for FY2026GAAP-tiedFeb 4, 20262Filing ↗
Interest expense change“decrease by approximately $120 million”for FY2026GAAP-tiedApr 22, 20261Filing ↗
Interest expense on debt obligations“$815 to $855”for FY2026GAAP-tiedFeb 4, 20262Filing ↗
Non-renewals“(35) to (25)”for FY2026Company-definedFeb 4, 20261Filing ↗
Non-renewals (Organic Contribution to Site Rental Billings component, midpoint)“$(30) (0.8)%”for FY2026Company-definedApr 22, 20261Filing ↗
Non-renewals associated with DISH Terminations“(220) to (220)”for FY2026Company-definedFeb 4, 20261Filing ↗
Non-renewals associated with DISH Terminations (range)“(220) to (220)”for FY2026Company-definedApr 22, 20261Filing ↗
Non-renewals associated with Sprint Cancellations“(20) to (20)”for FY2026Company-definedFeb 4, 20261Filing ↗
Non-renewals associated with Sprint Cancellations (range)“(20) to (20)”for FY2026Company-definedApr 22, 20261Filing ↗
Organic Contribution to Site Rental Billings“(125) to (95)”for FY2026Company-definedFeb 4, 20261Filing ↗
Organic Contribution to Site Rental Billings (range)“(125) to (95)”for FY2026Company-definedApr 22, 20261Filing ↗
Organic Contribution to Site Rental Billings after DISH Terminations and Sprint Cancellations impact“approximately $(110) million”for FY2026Company-definedFeb 4, 20262Filing ↗
Organic Contribution to Site Rental Billings as a percentage of prior year site rental billings“(2.8)%”for FY2026Company-definedFeb 4, 20262Filing ↗
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations“115 to 145”for FY2026Company-definedFeb 4, 20261Filing ↗
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations (midpoint)“$130 3.5%”for FY2026Company-definedApr 22, 20261Filing ↗
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations (range)“115 to 145”for FY2026Company-definedApr 22, 20261Filing ↗
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations as a percentage of prior year site rental billings“3.3%”for FY2026Company-definedFeb 4, 20262Filing ↗
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations as a percentage of prior year site rental billings excluding DISH“3.5%”for FY2026Company-definedApr 22, 20261Filing ↗
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations as a percentage of prior year site rental billings excluding site rental billings to DISH“3.5%”for FY2026Company-definedFeb 4, 20261Filing ↗
Organic Contribution to Site Rental Billings, excluding impact of DISH Terminations and Sprint Cancellations“approximately $130 million or 3.3% at the midpoint”for FY2026Company-definedFeb 4, 20261Filing ↗
Organic Contribution to Site Rental Billings, excluding the impact of DISH Terminations and Sprint Cancellations“approximately $135 million or 3.4% at the midpoint, or 3.6% if DISH revenues are excluded from prior year site rental billings”for FY2026Company-definedJul 22, 20261Filing ↗
Organic Contribution to Site Rental Billings, excluding the impact of DISH Terminations and Sprint Cancellations“approximately $130 million or 3.3% at the midpoint”for FY2026Company-definedApr 22, 20261Filing ↗
Other billings“(5) to (5)”for FY2026Company-definedFeb 4, 20261Filing ↗
Other items“decrease by approximately $25 million”for FY2026Company-definedFeb 4, 20261Filing ↗
Other items change“decrease by approximately $25 million”for FY2026Company-definedApr 22, 20261Filing ↗
Prepaid rent additions“$30 million to $50 million”for FY2026Company-definedFeb 4, 20262Filing ↗
Prepaid rent additions (capex outlook table)“(30) to (50)”for FY2026Company-definedApr 22, 20261Filing ↗
Prepaid rent amortization“decrease by approximately $20 million”for FY2026Company-definedFeb 4, 20261Filing ↗
Prepaid rent amortization change“decrease by approximately $20 million”for FY2026Company-definedApr 22, 20261Filing ↗
Services contribution“increase by approximately $5 million at the midpoint”for FY2026Company-definedFeb 4, 20261Filing ↗
Services contribution change“increase by approximately $5 million at the midpoint”for FY2026Company-definedApr 22, 20261Filing ↗
Share repurchases (following Fiber Business sale close)“approximately $1 billion of shares”for FY2026Declared actionApr 22, 20261Filing ↗
Site rental billings“$3,805 to $3,835”for FY2026Company-definedFeb 4, 20263Filing ↗
Site rental costs of operations“968 to 1,013”for FY2026Company-definedFeb 4, 20263Filing ↗
Sprint Cancellations impact“$20 million”for FY2026Company-definedFeb 4, 20262Filing ↗
Long term
MetricCurrent valuePeriodMeasureFirst statedTimes statedSource
Amortization of deferred financing costs and adjustments on long-term debt“$20 to $30”for the long termGAAP-tiedMar 13, 20251Filing ↗
Target leverage“6.0-6.5x”for the long termCompany-definedMar 13, 20251Filing ↗
No period stated
MetricCurrent valuePeriodMeasureFirst statedTimes statedSource
Annualized dividend“an amount approximating 75% to 80% of AFFO excluding amortization of prepaid rent”—Declared actionMar 13, 20251Filing ↗
Annualized dividend (post-Transaction target)“approximating 75% to 80% of AFFO excluding amortization of prepaid rent”—Declared actionMar 13, 20251Filing ↗
Common stock dividend (annualized basis)“$4.25 per share”—Declared actionFeb 4, 20261Filing ↗
Dividend“$4.25 per share on an annualized basis”—Declared actionFeb 4, 20261Filing ↗
Share repurchase“approximately $1 billion of shares”—Declared actionFeb 4, 20262Filing ↗
Share repurchase program“approximately $3.0 billion”—Declared actionMar 13, 20251Filing ↗
Share repurchases (following Fiber Business sale close)“approximately $1 billion”—Declared actionFeb 4, 20261Filing ↗
Target dividend payout ratio“approximately 75-80% of AFFO excluding amortization of prepaid rent”—Declared actionApr 30, 20251Filing ↗

How one item moved

Site rental revenues, for FY2025 — every statement across the year, each linked to its filing.

Mar 13, 2025
New
“$3,987 to $4,032”
Apr 30, 2025
Reiterated
“$3,987 to $4,032”
Jul 23, 2025
Raised
“$3,997 to $4,042”
Oct 22, 2025
Raised
“$4,007 to $4,052”

How your Logistics & diversified REITs sector group guides

12 companies in Logistics & diversified REITs. What they guide on, and who reported this season.

Most-guided metric families
GAAP EPS
11
Dividends
8
Revenue
7
Capex
6
Buybacks
6
Adjusted EBITDA
5
Interest expense
4
Same-store sales
3
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Get this for your own peer set — Peer Guidance Briefing, $3,000.

Full history

Every metric, every release, eight quarters — the complete record as one table.

MetricFY2026FY2025FY2024Long-termNo period
Core leasing activity (Components of Changes in Site Rental Revenues, range)2 statements5 statements1 statement——
Escalators (Components of Changes in Site Rental Revenues, range)2 statements5 statements———
Non-renewals (Components of Changes in Site Rental Revenues, range)2 statements5 statements———
Organic Contribution to Site Rental Billings growth, excluding DISH revenues from prior year site rental billings1 statement————
Organic growth (full year 2026 Outlook, excluding DISH revenues and Sprint Cancellations impact)1 statement————
The full record for Crown Castle and its Logistics & diversified REITs peers, delivered as a Peer Guidance Briefing — PDF and Excel, every value linked to its filing.

Filings

The 8 earnings releases this page is built from.

FiledFiscal periodAccessionGuidance items
Jul 22, 2026FY2026 Q20001051470-26-00006917Open filing ↗
Apr 22, 2026FY2026 Q10001051470-26-00004663Open filing ↗
Feb 4, 2026FY2025 Q40001051470-26-00000864Open filing ↗
Oct 22, 2025FY2025 Q30001051470-25-00018541Open filing ↗
Jul 23, 2025FY2025 Q20001051470-25-00015931Open filing ↗
Apr 30, 2025FY2025 Q10001051470-25-00012445Open filing ↗
Mar 13, 2025FY2024 Q40001051470-25-00008552Open filing ↗
Oct 16, 2024FY2024 Q30001051470-24-00020645Open filing ↗
Values in quotation marks are the company’s words; the classification and filing links are HighGravityData’s. HighGravityData does not score or rank companies or give investment advice.
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