HighGravityDataCrown Castle — Mar 13, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001051470-25-000085
Showing in the filing
Annualized dividend
“an amount approximating 75% to 80% of AFFO excluding amortization of prepaid rent”
Period
No period stated
Measure
Declared action
Source
Prose
All guidance in this release · 52
Annualized dividend for Q2 FY2025
“approximately $4.25 per share”
Expected Transaction closing
“first half of 2026”
Share repurchase program
“approximately $3.0 billion”
Annualized dividend
“an amount approximating 75% to 80% of AFFO excluding amortization of prepaid rent”
Annualized dividend (post-Transaction target)
“approximating 75% to 80% of AFFO excluding amortization of prepaid rent”
Target leverage
“6.0-6.5x”
Target leverage for the long term
“6.0-6.5x”
Loss to be recognized upon classification of… for Q1 FY2025
“approximately $800 million”
Estimated total loss on Fiber segment sale for FY2025
“between $700 million and $900 million”
Total loss related to Fiber segment, inclusi… for FY2025
“between $700 million and $900 million”
Site rental billings for FY2025
“$3,885 to $3,915”
Amortization of prepaid rent for FY2025
“$80 to $110”
Straight-lined revenues for FY2025
“($15) to $15”
Other revenues for FY2025
“$15 to $15”
Site rental revenues for FY2025
“$3,987 to $4,032”
Site rental costs of operations for FY2025
“$987 to $1,032”
Services and other gross margin for FY2025
“$70 to $100”
Net income (loss) for FY2025
“$65 to $345”
Net income (loss) per share-diluted for FY2025
“$0.15 to $0.79”
Adjusted EBITDA for FY2025
“$2,755 to $2,805”
Depreciation, amortization and accretion for FY2025
“$678 to $773”
Net income (loss) from discontinued operations for FY2025
“($830) to ($590)”
FFO for FY2025
“$1,610 to $1,640”
AFFO for FY2025
“$1,770 to $1,820”
AFFO per share for FY2025
“$4.06 to $4.17”
Discretionary capital expenditures for FY2025
“$185 to $185”
Discretionary capital expenditures from disc… for FY2025
“$920 to $1,020”
Core leasing activity contribution at outloo… for FY2025
“$110 million”
Sprint Cancellations for FY2025
“$205 million”
Straight-line site rental revenues (vs FY2024) for FY2025
“approximately $145 million to $175 million lower than full year 2024”
Prepaid rent amortization (decrease) for FY2025
“approximately $50 million to $80 million”
Impact from change in other billings for FY2025
“$0”
Core leasing – prior definition for FY2025
“$110”
Prepaid rent additions for FY2025
“approximately $40 million”
Prepaid rent additions from discontinued ope… for FY2025
“approximately $350 million”
Consolidated site rental billings growth, ex… for FY2025
“4.5%”
Core leasing activity for FY2025
“$105 to $115”
Escalators for FY2025
“$90 to $100”
Non-renewals for FY2025
“$(35) to $(25)”
Other billings for FY2025
“$0 to $0”
Organic Contribution to Site Rental Billings… for FY2025
“$160 to $190”
Non-renewals associated with Sprint Cancella… for FY2025
“$(205) to $(205)”
Organic Contribution to Site Rental Billings for FY2025
“$(45) to $(15)”
Site rental revenues as a percentage of prio… for FY2025
“(5.1)%”
Organic Contribution to Site Rental Billings… for FY2025
“4.5%”
Organic growth in towers, excluding the impa… for FY2025
“4.5%”
Organic Contribution to Site Rental Billings… for FY2025
“(0.8)%”
Discretionary capital expenditures less prep… for FY2025
“$145 to $145”
Interest expense on debt obligations for FY2025
“$970 to $1,010”
Amortization of deferred financing costs and… for the long term
“$20 to $30”
Capitalized interest for FY2025
“$(15) to $(5)”
Interest expense and amortization of deferre… for FY2025
“$982 to $1,027”
Exhibit 99.1 · the passage around this item
… earlier in the release
The Company currently expects to reduce its annualized dividend to approximately $4.25 per share starting in the second quarter of 2025. Following the closing of the Transaction, Crown Castle intends to set its annualized dividend at an amount approximating 75% to 80% of AFFO excluding amortization of prepaid rent. Based on the Company’s current expectations around future performance, Crown Castle believes it will be able to grow its annualized dividend in-line with the growth in AFFO excluding amortization of prepaid rent per share following the close of the Transaction. Any dividends remain subject to the approval of our Board of Directors which has the discretion to determine whether to declare dividends and the amounts and timing of the dividends. Crown Castle currently expects to use the cash proceeds from the Transaction to repay debt and fund share repurchases, while managing its balance sheet to maintain an investment grade rating. Based on preliminary analysis, Crown Castle believes that the enhanced stability of its free cash flow profile as a pure-play U.S. tower business would allow it to maintain an investment grade credit rating with a target leverage of 6.0-6.5x. Consequently, subject to the approval of our Board of Directors, the Company intends to authorize a share repurchase program of approximately $3.0 billion (or such other amount as may be approved by our Board of Directors) in conjunction with the close of the Transaction. Crown Castle believes these changes to its di
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.