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
Consolidated site rental billings growth, excluding the impact of Sprint Cancellations
“4.5%”
Period
FY2025
Measure
Company-defined measure
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
CrownCastle.com News Release continued: Page 16 Components of Changes in Site Rental Revenues for the Quarters and Years Ended December 31, 2024 and 2023: Three Months Ended December 31, Twelve Months Ended December 31, (dollars in millions; totals may not sum due to rounding) 2024 2023 2024 2023 Components of changes in site rental revenues: Prior year site rental billings (a) $ 1,377 $ 1,322 $ 5,386 $ 5,193 Core leasing activity (a) 79 69 303 285 Escalators 25 24 99 96 Non-renewals (a) (38) (36) (150) (158) Other billings (a) (3) 4 (7) (12) Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations (a) 63 61 245 210 Non-renewals associated with Sprint Cancellations (a)(b) (1) (7) (9) (21) Organic Contribution to Site Rental Billings (a) 62 54 235 189 Straight-lined revenues 21 51 165 274 Amortization of prepaid rent 106 134 427 584 Other revenues 30 41 144 289 Acquisitions (c) — 1 — 4 Total site rental revenues $ 1,597 $ 1,603 $ 6,358 $ 6,532 Year-over-year changes in revenues: Site rental revenues as a percentage of prior year site rental revenues (0.4) % 1.6 % (2.7) % 3.9 % Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations as a percentage of prior year site rental billings (a) 4.6 % 4.6 % 4.5 % 4.0 % Organic Contribution to Site Rental Billings as a percentage of prior year site rental billings (a) 4.5 % 4.1 % 4.4 % 3.6 % (a) See our definitions of site rental billings, core leasing activity, non-renewals, other billings, 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 fourth quarter 2023, there were $5 million and $2 million of non-renewals associated with Sprint Cancellations that related to small cells and fiber solutions, respectively, and in full year 2023, there were $14 million and $7 million of non-renewals associated with Sprint Cancellations that related to small cells and fiber solutions, respectively. (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. The pathway to possible. CrownCastle.com News Release continued: Page 17 Towers Segment Components of Changes in Site Rental Revenues for the Quarters and Years Ended December 31, 2024 and 2023: Three Months End
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.