HighGravityDataCrown Castle — Oct 16, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001051470-24-000206
Showing in the filing
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations as a percentage of prior year site rental billings excluding payments for Sprint Cancellations (Fiber Solutions)
“2%”
Period
FY2024
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 45
Organic Contribution to Site Rental Billings… for FY2024
“15%”
Asset write-down charge from small cell node… for Q4 FY2024
“$125 to $150 million”
Expected fourth-quarter asset write-down cha… for Q4 FY2024
“$125 to $150 million”
Reduction to full year 2024 Outlook for net … for FY2024
“$138 million”
Site rental billings for FY2024
“$5,740 to $5,780”
Straight-lined revenues for FY2024
“$162 to $187”
Site rental revenues for FY2024
“$6,317 to $6,362”
Site rental costs of operations for FY2024
“$1,686 to $1,731”
Services and other gross margin for FY2024
“$65 to $95”
Net income (loss) for FY2024
“$975 to $1,065”
Net income (loss) per share—diluted for FY2024
“$2.24 to $2.45”
Adjusted EBITDA for FY2024
“$4,143 to $4,193”
Depreciation, amortization and accretion for FY2024
“$1,680 to $1,775”
FFO for FY2024
“$2,863 to $2,893”
AFFO for FY2024
“$3,005 to $3,055”
AFFO per share for FY2024
“$6.91 to $7.02”
Towers Segment discretionary capital expendi… for FY2024
“$180 to $180”
Fiber Segment discretionary capital expendit… for FY2024
“$1,050 to $1,150”
Organic Contribution to Site Rental Billings… for FY2024
“4.5%”
Towers site rental billings growth contribut… for FY2024
“4.5%”
Small cells site rental billings growth cont… for FY2024
“15%”
Fiber solutions site rental billings growth … for FY2024
“2%”
Core leasing activity for FY2024
“$305 million to $335 million”
Core leasing activity from towers for FY2024
“$105 million to $115 million”
Core leasing activity from small cells for FY2024
“$65 million to $75 million”
Core leasing activity from fiber solutions for FY2024
“$135 million to $145 million”
Small cell core leasing activity for FY2024
“$70 million”
Small cell organic growth, excluding the imp… for FY2024
“10%”
Increase in full year 2024 expenses attribut… for FY2024
“approximately $30 million”
Decrease in costs related to the reduction i… for FY2024
“an approximately $65 million”
Discretionary capital expenditures for FY2024
“$1.2 billion to $1.3 billion”
Discretionary capital expenditures in the Fi… for FY2024
“approximately $1.1 billion”
Discretionary capital expenditures in the To… for FY2024
“$180 million”
Prepaid rent additions for FY2024
“approximately $355 million”
Prepaid rent additions from Fiber for FY2024
“$275 million”
Prepaid rent additions from Towers for FY2024
“$80 million”
Organic Contribution to Site Rental Billings… for FY2024
“(8)”
Consolidated site rental billings growth, ex… for FY2024
“5%”
Organic Contribution to Site Rental Billings… for FY2024
“(4)”
Organic Contribution to Site Rental Billings… for FY2024
“2%”
Discretionary capital expenditures (less pre… for FY2024
“$1,230 to $1,330”
Discretionary capital expenditures less prep… for FY2024
“$875 to $975”
Interest expense on debt obligations for FY2024
“$915 to $955”
Capitalized interest for FY2024
“$(17) to $(7)”
Interest expense and amortization of deferre… for FY2024
“$926 to $971”
Exhibit 99.1 · the passage around this item
… earlier in the release
CrownCastle.com News Release continued: Page 17 Fiber Segment Components of Changes in Site Rental Revenues by Line of Business for the Quarters Ended September 30, 2024 and 2023: Fiber Solutions Three Months Ended September 30, (dollars in millions; totals may not sum due to rounding) 2024 2023 Components of changes in site rental revenues: Prior year site rental billings excluding payments for Sprint Cancellations (a) $ 318 $ 315 Prior year payments for Sprint Cancellations (a)(b) 6 — Prior year site rental billings (a) 324 315 Core leasing activity (a) 31 34 Escalators — — Non-renewals (a) (29) (29) Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations (a) 2 5 Payments for Sprint Cancellations (a)(b) (5) 6 Non-renewals associated with Sprint Cancellations (a)(b) (1) (2) Organic Contribution to Site Rental Billings (a) (4) 9 Straight-lined revenues 3 2 Amortization of prepaid rent 17 20 Acquisitions (c) — — Total site rental revenues $ 340 $ 346 Year-over-year changes in revenues: Site rental revenues as a percentage of prior year site rental revenues (1.7) % 4.8 % Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations as a percentage of prior year site rental billings excluding payments for Sprint Cancellations (a) 0.7 % 1.5 % Organic Contribution to Site Rental Billings as a percentage of prior year site rental billings (a) (1.1) % 2.8 % Outlook for Components Changes in Site Rental Revenues by Line of Business Full Year 2024 Outlook (d) Towers Fiber Segment (in millions) Small Cells Fiber Solutions Core leasing activity (a) $105 to $115 $65 to $75 $135 to $145 Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations as a percentage of prior year site rental billings excluding payments for Sprint Cancellations (a)(e)(f) 4.5% 15% 2% Organic Contribution to Site Rental Billings as a percentage of prior year site rental billings (a)(e) 4.5% (8) (4) (a) See our definitions of site rental billings, core leasing activity, non-renewals, Sprint Cancellations, Organic Contribution to Site Rental Billings and Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations in this " Non-GAAP Measures and Other Information. " (b) In the third quarter 2023, we received $6 million of payments for Sprint Cancellations that related to fiber solutions. These payments are non-recurring and therefore reduce full year 2024 Organic Contribution to Site Rental Billings by the same amount. In the third quarter 2023, there were $2 million of non-renewals associated with Sprint Cancellations that related to fiber solutions. (c) Represents the contribution from recent acquisitions. The financial impact of recent acquisitions is excluded from Organic Contribution to Site Rental Billings, including as Adjusted for Impact of Sprint Cancellations, until the one-year anniversary of such acquisitions. (d) As issued on October 16, 2024 and unchanged from previous outlook issued on July 17, 2024. (e) Calculated ba
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.