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Guidance history, every release

Crown Castle (CCI) · 8 releases, Oct 16, 2024 to Jul 22, 2026 · rows are metrics, columns are releases

Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing

Metric	Oct 16, 2024 FY24 Q3	Mar 13, 2025 FY24 Q4	Apr 30, 2025 FY25 Q1	Jul 23, 2025 FY25 Q2	Oct 22, 2025 FY25 Q3	Feb 4, 2026 FY25 Q4	Apr 22, 2026 FY26 Q1	Jul 22, 2026 FY26 Q2
For FY2026
Core leasing activity (Components of Changes in Site Rental Revenues, range)	—	—	—	—	—	—	New“60 to 70”	—
Escalators (Components of Changes in Site Rental Revenues, range)	—	—	—	—	—	—	New“95 to 105”	—
Non-renewals (Components of Changes in Site Rental Revenues, range)	—	—	—	—	—	—	New“(35) to (25)”	—
Organic Contribution to Site Rental Billings growth, excluding DISH revenues from prior year site rental billings	—	—	—	—	—	—	New“3.5%”	—
Organic growth (full year 2026 Outlook, excluding DISH revenues and Sprint Cancellations impact)	—	—	—	—	—	New“3.5%”	—	—
Other billings (Components of Changes in Site Rental Revenues, range)	—	—	—	—	—	—	New“(5) to (5)”	—
Other revenues	—	—	—	—	—	New“15 to 15”	Reiterated“15 to 15”	Reiterated“15 to 15”
Site rental revenues	—	—	—	—	—	New“3,828 to 3,873”	—	Raised“3,833 to 3,878”
Site rental revenues (Outlook Midpoint / Growth Rate vs FY2025)	—	—	—	—	—	New“$3,850 (5)%”	—	—
Site rental revenues (Outlook table)	—	—	—	—	—	—	New“3,828 to 3,873”	—
Site rental revenues as a percentage of prior year site rental revenues	—	—	—	—	—	New“(4.9)%”	Reiterated“(4.9)%”	—
Straight-line site rental revenues	—	—	—	—	—	New“decrease by approximately $70 million”	—	—
Straight-line site rental revenues change	—	—	—	—	—	—	New“decrease by approximately $70 million”	—
Straight-lined revenues	—	—	—	—	—	New“(75) to (45)”	Reiterated“(75) to (45)”	Reiterated“(75) to (45)”
Adjusted EBITDA	—	—	—	—	—	New“2,665 to 2,715”	—	Reiterated“2,665 to 2,715”
Adjusted EBITDA (Outlook Midpoint / Growth Rate vs FY2025)	—	—	—	—	—	New“$2,690 (6)%”	—	—
Adjusted EBITDA (Outlook table)	—	—	—	—	—	—	New“2,665 to 2,715”	—
Net income (loss)	—	—	—	—	—	New“640 to 920”	—	Raised“730 to 1,010”
Net income (loss) (Outlook Midpoint / Growth Rate vs FY2025)	—	—	—	—	—	New“$780 76%”	—	—
Net income (loss) (Outlook table)	—	—	—	—	—	—	New“640 to 920”	—
Net income (loss) per share—diluted	—	—	—	—	—	New“1.48 to 2.12”	—	Raised“1.70 to 2.35”
Net income (loss) per share—diluted (Outlook Midpoint / Growth Rate vs FY2025)	—	—	—	—	—	New“$1.80 78%”	—	—
Net income (loss) per share—diluted (Outlook table)	—	—	—	—	—	—	New“1.48 to 2.12”	—
Services and other gross margin	—	—	—	—	—	New“90 to 120”	Reiterated“90 to 120”	Lowered“70 to 100”
AFFO	—	—	—	—	—	New“1,895 to 1,945”	—	Raised“1,950 to 2,000”
AFFO (Outlook Midpoint / Growth Rate vs FY2025)	—	—	—	—	—	New“$1,920 1%”	—	—
AFFO (Outlook table)	—	—	—	—	—	—	New“1,895 to 1,945”	—
AFFO growth (2025 to 2026)	—	—	—	—	—	New“approximately $15 million at the midpoint”	—	—
AFFO growth from 2025 to 2026	—	—	—	—	—	—	New“approximately $15 million at the midpoint”	—
AFFO per share	—	—	—	—	—	New“4.38 to 4.49”	—	Raised“4.53 to 4.65”
AFFO per share (Outlook Midpoint / Growth Rate vs FY2025)	—	—	—	—	—	New“$4.43 2%”	—	—
AFFO per share (Outlook table)	—	—	—	—	—	—	New“4.38 to 4.49”	—
Capitalized interest	—	—	—	—	—	New“(15) to (5)”	Reiterated“(15) to (5)”	—
Change in other billings (Organic Contribution to Site Rental Billings component, midpoint)	—	—	—	—	—	—	New“$(5) (0.1)%”	—
Core leasing activity	—	—	—	—	—	New“60 to 70”	—	—
Core leasing activity (Organic Contribution to Site Rental Billings component, midpoint)	—	—	—	—	—	—	New“$65 1.8%”	—
Cost savings	—	—	—	—	—	New“$55 million”	Reiterated“$55 million”	—
Cost savings due to timing	—	—	—	—	—	New“$55 million”	Reiterated“$55 million”	—
Debt repayment (following Fiber Business sale close)	—	—	—	—	—	—	New“approximately $7 billion of debt”	—
Depreciation, amortization and accretion	—	—	—	—	—	New“627 to 722”	Reiterated“627 to 722”	Reiterated“627 to 722”
Discretionary capital expenditures	—	—	—	—	—	—	—	New“150 to 250”
Discretionary capital expenditures	—	—	—	—	—	New“$150 million to $250 million”	Reiterated“$150 million to $250 million”	—
Discretionary capital expenditures (Outlook table)	—	—	—	—	—	—	New“150 to 250”	—
Discretionary capital expenditures from discontinued operations	—	—	—	—	—	New“$480 to $580”	Reiterated“$480 to $580”	—
Discretionary capital expenditures less prepaid rent additions	—	—	—	—	—	New“$110 to $210”	Reiterated“$110 to $210”	—
DISH Terminations and Sprint Cancellations impact	—	—	—	—	—	New“$240 million”	Reiterated“$240 million”	—
DISH Terminations impact	—	—	—	—	—	New“$220 million”	Reiterated“$220 million”	—
Escalators	—	—	—	—	—	New“95 to 105”	—	—
Escalators (Organic Contribution to Site Rental Billings component, midpoint)	—	—	—	—	—	—	New“$100 2.7%”	—
Expected growth in AFFO from 2025 to 2026	—	—	—	—	—	—	—	New“approximately $15 million at the midpoint”
Expense savings from staffing and other cost reductions	—	—	—	—	—	New“approximately $50 million”	—	—
Expense savings from workforce and other cost reductions	—	—	—	—	—	—	New“approximately $50 million”	—
Expense savings from workforce reduction (services)	—	—	—	—	—	New“$5 million”	Reiterated“$5 million”	—
Expenses	—	—	—	—	—	New“decrease by approximately $25 million”	—	—
Expenses change	—	—	—	—	—	—	New“decrease by approximately $25 million”	—
FFO	—	—	—	—	—	New“1,640 to 1,670”	Reiterated“1,640 to 1,670”	Raised“1,730 to 1,760”
Fiber Business sale transaction expected closing	—	—	—	—	New“first half of 2026”	—	—	—
Income (loss) from discontinued operations, net of tax	—	—	—	—	—	New“(360) to (80)”	Reiterated“(360) to (80)”	Reiterated“(360) to (80)”
Interest expense	—	—	—	—	—	New“decrease by approximately $120 million”	—	—
Interest expense and amortization of deferred financing costs, net	—	—	—	—	—	New“832 to 877”	Reiterated“832 to 877”	—
Interest expense change	—	—	—	—	—	—	New“decrease by approximately $120 million”	—
Interest expense on debt obligations	—	—	—	—	—	New“$815 to $855”	Reiterated“$815 to $855”	—
Non-renewals	—	—	—	—	—	New“(35) to (25)”	—	—
Non-renewals (Organic Contribution to Site Rental Billings component, midpoint)	—	—	—	—	—	—	New“$(30) (0.8)%”	—
Non-renewals associated with DISH Terminations	—	—	—	—	—	New“(220) to (220)”	—	—
Non-renewals associated with DISH Terminations (range)	—	—	—	—	—	—	New“(220) to (220)”	—
Non-renewals associated with Sprint Cancellations	—	—	—	—	—	New“(20) to (20)”	—	—
Non-renewals associated with Sprint Cancellations (range)	—	—	—	—	—	—	New“(20) to (20)”	—
Organic Contribution to Site Rental Billings	—	—	—	—	—	New“(125) to (95)”	—	—
Organic Contribution to Site Rental Billings (range)	—	—	—	—	—	—	New“(125) to (95)”	—
Organic Contribution to Site Rental Billings after DISH Terminations and Sprint Cancellations impact	—	—	—	—	—	New“approximately ($110) million”	Lowered“approximately $(110) million”	—
Organic Contribution to Site Rental Billings as a percentage of prior year site rental billings	—	—	—	—	—	New“(2.8)%”	Reiterated“(2.8)%”	—
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations	—	—	—	—	—	New“115 to 145”	—	—
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations (midpoint)	—	—	—	—	—	—	New“$130 3.5%”	—
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations and DISH Terminations (range)	—	—	—	—	—	—	New“115 to 145”	—
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	—	—	—	—	—	New“3.3%”	Reiterated“3.3%”	—
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	—	—	—	—	—	—	New“3.5%”	—
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	—	—	—	—	—	New“3.5%”	—	—
Organic Contribution to Site Rental Billings, excluding impact of DISH Terminations and Sprint Cancellations	—	—	—	—	—	New“approximately $130 million or 3.3% at the midpoint”	—	—
Organic Contribution to Site Rental Billings, excluding the impact of DISH Terminations and Sprint Cancellations	—	—	—	—	—	—	—	New“approximately $135 million or 3.4% at the midpoint, or 3.6% if DISH revenues are excluded from prior year site rental billings”
Organic Contribution to Site Rental Billings, excluding the impact of DISH Terminations and Sprint Cancellations	—	—	—	—	—	—	New“approximately $130 million or 3.3% at the midpoint”	—
Other billings	—	—	—	—	—	New“(5) to (5)”	—	—
Other items	—	—	—	—	—	New“decrease by approximately $25 million”	—	—
Other items change	—	—	—	—	—	—	New“decrease by approximately $25 million”	—
Prepaid rent additions	—	—	—	—	—	New“$30 million to $50 million”	Reiterated“$30 million to $50 million”	—
Prepaid rent additions (capex outlook table)	—	—	—	—	—	—	New“(30) to (50)”	—
Prepaid rent amortization	—	—	—	—	—	New“decrease by approximately $20 million”	—	—
Prepaid rent amortization change	—	—	—	—	—	—	New“decrease by approximately $20 million”	—
Services contribution	—	—	—	—	—	New“increase by approximately $5 million at the midpoint”	—	—
Services contribution change	—	—	—	—	—	—	New“increase by approximately $5 million at the midpoint”	—
Share repurchases (following Fiber Business sale close)	—	—	—	—	—	—	New“approximately $1 billion of shares”	—
Site rental billings	—	—	—	—	—	New“$3,800 to $3,830”	Reiterated“$3,800 to $3,830”	Raised“$3,805 to $3,835”
Site rental costs of operations	—	—	—	—	—	New“978 to 1,023”	Reiterated“978 to 1,023”	Lowered“968 to 1,013”
Sprint Cancellations impact	—	—	—	—	—	New“$20 million”	Reiterated“$20 million”	—
For FY2025
Other revenues	—	New“$15 to $15”	Reiterated“$15 to $15”	Reiterated“$15 to $15”	Reiterated“$15 to $15”	—	—	—
Site rental revenues	—	New“$3,987 to $4,032”	Reiterated“$3,987 to $4,032”	Raised“$3,997 to $4,042”	Raised“$4,007 to $4,052”	—	—	—
Site rental revenues (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$4,030”	—	—	—
Site rental revenues (Outlook Midpoint)	—	—	New“$4,010”	Raised“$4,020”	—	—	—	—
Site rental revenues as a percentage of prior year site rental revenues	—	New“(5.1)%”	Lowered“(6.0)%”	—	Raised“(5.6)%”	—	—	—
Straight-line site rental revenues (vs FY2024)	—	New“approximately $145 million to $175 million lower than full year 2024”	—	—	—	—	—	—
Straight-lined revenues	—	New“($15) to $15”	Reiterated“($15) to $15”	Reiterated“($15) to $15”	Widened“($5) to $25”	—	—	—
Adjusted EBITDA	—	New“$2,755 to $2,805”	Reiterated“$2,755 to $2,805”	Raised“$2,780 to $2,830”	Raised“$2,810 to $2,860”	—	—	—
Adjusted EBITDA (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$2,835”	—	—	—
Adjusted EBITDA (Outlook Midpoint)	—	—	New“$2,780”	Raised“$2,805”	—	—	—	—
Net income (loss)	—	New“$65 to $345”	Reiterated“$65 to $345”	Raised“$100 to $380”	Raised“$145 to $425”	—	—	—
Net income (loss) (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$285”	—	—	—
Net income (loss) (Outlook Midpoint)	—	—	New“$205”	Raised“$240”	—	—	—	—
Net income (loss) from discontinued operations	—	New“($830) to ($590)”	—	—	—	—	—	—
Net income (loss) per share-diluted	—	New“$0.15 to $0.79”	Reiterated“$0.15 to $0.79”	Raised“$0.23 to $0.87”	Raised“$0.33 to $0.97”	—	—	—
Net income (loss) per share—diluted (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$0.65”	—	—	—
Net income (loss) per share—diluted (Outlook Midpoint)	—	—	New“$0.47”	Raised“$0.55”	—	—	—	—
Services and other gross margin	—	New“$70 to $100”	Reiterated“$70 to $100”	Raised“$75 to $105”	Raised“$80 to $110”	—	—	—
AFFO	—	New“$1,770 to $1,820”	Reiterated“$1,770 to $1,820”	Raised“$1,805 to $1,855”	Raised“$1,845 to $1,895”	—	—	—
AFFO (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$1,870”	—	—	—
AFFO (Outlook Midpoint)	—	—	New“$1,795”	Raised“$1,830”	—	—	—	—
AFFO per share	—	New“$4.06 to $4.17”	Reiterated“$4.06 to $4.17”	Raised“$4.14 to $4.25”	Raised“$4.23 to $4.35”	—	—	—
AFFO per share (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$4.29”	—	—	—
AFFO per share (Outlook Midpoint)	—	—	New“$4.12”	Raised“$4.20”	—	—	—	—
Amortization of prepaid rent	—	New“$80 to $110”	—	—	—	—	—	—
Annualized dividend	—	New“approximately $4.25 per share”	—	—	—	—	—	—
Annualized dividend per share	—	—	New“$4.25”	—	—	—	—	—
Annualized dividend per share (anticipated reduction)	—	—	New“$4.25”	—	—	—	—	—
Capitalized interest	—	New“$(15) to $(5)”	—	—	—	—	—	—
Change in other billings (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$5 0.1%”	—	—	—
Change in other billings (Outlook Midpoint)	—	—	New“$0 0.0%”	—	—	—	—	—
Change in other billings, expected increase from previous Outlook	—	—	—	New“$5 million”	—	—	—	—
Consolidated site rental billings growth, excluding the impact of Sprint Cancellations	—	New“4.5%”	—	—	—	—	—	—
Core leasing – prior definition	—	New“$110”	—	—	—	—	—	—
Core leasing activity	—	—	—	—	New“110 to 120”	—	—	—
Core leasing activity	—	New“$105 to $115”	Reiterated“$105 to $115”	—	—	—	—	—
Core leasing activity (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$115 2.9%”	—	—	—
Core leasing activity (Outlook Midpoint)	—	—	New“$110 2.8%”	—	—	—	—	—
Core leasing activity contribution at outlook midpoint	—	New“$110 million”	—	—	—	—	—	—
Core leasing activity, expected increase from previous Outlook	—	—	—	New“$5 million”	—	—	—	—
Depreciation, amortization and accretion	—	New“$678 to $773”	Reiterated“$678 to $773”	Reiterated“$678 to $773”	Reiterated“$678 to $773”	—	—	—
Discretionary capital expenditures	—	New“$185 to $185”	Reiterated“$185 to $185”	Reiterated“$185 to $185”	Lowered“$155 to $155”	—	—	—
Discretionary capital expenditures from discontinued operations	—	New“$920 to $1,020”	Reiterated“$920 to $1,020”	Reiterated“$920 to $1,020”	Reiterated“$920 to $1,020”	—	—	—
Discretionary capital expenditures less prepaid rent additions	—	New“$145 to $145”	Reiterated“$145 to $145”	Reiterated“$145 to $145”	Lowered“$115 to $115”	—	—	—
Escalator (Outlook Midpoint)	—	—	New“$95 2.4%”	—	—	—	—	—
Escalators	—	—	—	—	New“90 to 100”	—	—	—
Escalators	—	New“$90 to $100”	Reiterated“$90 to $100”	—	—	—	—	—
Escalators (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$95 2.4%”	—	—	—
Estimated total loss on Fiber segment sale	—	New“between $700 million and $900 million”	—	—	—	—	—	—
FFO	—	New“$1,610 to $1,640”	Reiterated“$1,610 to $1,640”	Raised“$1,645 to $1,675”	Raised“$1,690 to $1,720”	—	—	—
Impact from change in other billings	—	New“$0”	—	—	—	—	—	—
Income (loss) from discontinued operations, net of tax	—	—	New“($830) to ($590)”	Reiterated“($830) to ($590)”	Reiterated“($830) to ($590)”	—	—	—
Interest expense and amortization of deferred financing costs, net	—	New“$982 to $1,027”	Reiterated“$982 to $1,027”	Lowered“$972 to $1,017”	Lowered“$957 to $1,002”	—	—	—
Interest expense on debt obligations	—	New“$970 to $1,010”	—	—	—	—	—	—
Loss to be recognized upon classification of Fiber segment as held for sale	—	New“approximately $800 million”	—	—	—	—	—	—
Non-renewals	—	—	—	—	New“(35) to (25)”	—	—	—
Non-renewals	—	New“$(35) to $(25)”	Reiterated“$(35) to $(25)”	—	—	—	—	—
Non-renewals (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“($30) (0.8)%”	—	—	—
Non-renewals (Outlook Midpoint)	—	—	New“($30) (0.8%)”	—	—	—	—	—
Non-renewals associated with Sprint Cancellations	—	—	—	—	New“(205) to (205)”	—	—	—
Non-renewals associated with Sprint Cancellations	—	New“$(205) to $(205)”	Reiterated“$(205) to $(205)”	—	—	—	—	—
Organic Contribution to Site Rental Billings	—	—	—	—	New“(35) to (5)”	—	—	—
Organic Contribution to Site Rental Billings	—	New“$(45) to $(15)”	Reiterated“$(45) to $(15)”	—	—	—	—	—
Organic Contribution to Site Rental Billings as a percentage of prior year site rental billings	—	New“(0.8)%”	Reiterated“(0.8)%”	—	Raised“(0.5)%”	—	—	—
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations	—	—	—	—	New“170 to 200”	—	—	—
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations	—	New“$160 to $190”	Reiterated“$160 to $190”	Raised“$170 to $200”	—	—	—	—
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations (Current Full Year 2025 Outlook Midpoint)	—	—	—	—	New“$185 4.7%”	—	—	—
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations (Outlook Midpoint)	—	—	New“$175 4.5%”	—	—	—	—	—
Organic Contribution to Site Rental Billings as Adjusted for Impact of Sprint Cancellations as a percentage of prior year site rental billings	—	New“4.5%”	Reiterated“4.5%”	—	—	—	—	—
Organic growth in towers, excluding the impact of Sprint consolidation churn	—	New“4.5%”	—	—	—	—	—	—
Organic growth, excluding impact of Sprint Cancellations	—	—	—	New“4.7%”	—	—	—	—
Other billings	—	—	—	—	New“5 to 5”	—	—	—
Other billings	—	New“$0 to $0”	Reiterated“$0 to $0”	—	—	—	—	—
Prepaid rent additions	—	New“approximately $40 million”	Reiterated“~$40”	Reiterated“~$40”	—	—	—	—
Prepaid rent additions from discontinued operations	—	New“approximately $350 million”	—	—	—	—	—	—
Prepaid rent amortization (decrease)	—	New“approximately $50 million to $80 million”	—	—	—	—	—	—
Reduction in overhead costs	—	—	—	New“$10 million”	—	—	—	—
Site rental billings	—	New“$3,885 to $3,915”	Reiterated“$3,885 to $3,915”	Raised“$3,895 to $3,925”	Reiterated“$3,895 to $3,925”	—	—	—
Site rental billings growth, excluding impact of Sprint Cancellations	—	—	New“4.5%”	—	Raised“4.7%”	—	—	—
Site rental billings growth, excluding the impact of Sprint Cancellations	—	—	New“4.5%”	Raised“4.7%”	—	—	—	—
Site rental costs of operations	—	New“$987 to $1,032”	Reiterated“$987 to $1,032”	Lowered“$972 to $1,017”	Lowered“$967 to $1,012”	—	—	—
Sprint Cancellations	—	New“$205 million”	—	—	—	—	—	—
Total loss related to Fiber segment, inclusive of estimated transaction fees	—	New“between $700 million and $900 million”	—	—	—	—	—	—
For FY2024
Site rental revenues	New“$6,317 to $6,362”	—	—	—	—	—	—	—
Small cell organic growth, excluding the impact of Sprint Cancellations and the increase in non-recurring revenues	New“10%”	—	—	—	—	—	—	—
Straight-lined revenues	New“$162 to $187”	—	—	—	—	—	—	—
Adjusted EBITDA	New“$4,143 to $4,193”	—	—	—	—	—	—	—
Net income (loss)	New“$975 to $1,065”	—	—	—	—	—	—	—
Net income (loss) per share—diluted	New“$2.24 to $2.45”	—	—	—	—	—	—	—
Reduction to full year 2024 Outlook for net income at midpoint	New“$138 million”	—	—	—	—	—	—	—
Services and other gross margin	New“$65 to $95”	—	—	—	—	—	—	—
AFFO	New“$3,005 to $3,055”	—	—	—	—	—	—	—
AFFO per share	New“$6.91 to $7.02”	—	—	—	—	—	—	—
Asset write-down charge from small cell node cancellations	New“$125 to $150 million”	—	—	—	—	—	—	—
Capitalized interest	New“$(17) to $(7)”	—	—	—	—	—	—	—
Consolidated site rental billings growth, excluding the impact of Sprint Cancellations	New“5%”	—	—	—	—	—	—	—
Core leasing activity	New“$305 million to $335 million”	—	—	—	—	—	—	—
Core leasing activity from fiber solutions	New“$135 million to $145 million”	—	—	—	—	—	—	—
Core leasing activity from small cells	New“$65 million to $75 million”	—	—	—	—	—	—	—
Core leasing activity from towers	New“$105 million to $115 million”	—	—	—	—	—	—	—
Decrease in costs related to the reduction in staffing levels and office closures	New“an approximately $65 million”	—	—	—	—	—	—	—
Depreciation, amortization and accretion	New“$1,680 to $1,775”	—	—	—	—	—	—	—
Discretionary capital expenditures	New“$1.2 billion to $1.3 billion”	—	—	—	—	—	—	—
Discretionary capital expenditures (less prepaid rent)	New“$1,230 to $1,330”	—	—	—	—	—	—	—
Discretionary capital expenditures in the Fiber segment	New“approximately $1.1 billion”	—	—	—	—	—	—	—
Discretionary capital expenditures in the Towers segment	New“$180 million”	—	—	—	—	—	—	—
Discretionary capital expenditures less prepaid rent additions	New“$875 to $975”	—	—	—	—	—	—	—
Expected fourth-quarter asset write-down charge from small cell node cancellations	New“$125 to $150 million”	—	—	—	—	—	—	—
FFO	New“$2,863 to $2,893”	—	—	—	—	—	—	—
Fiber Segment discretionary capital expenditures	New“$1,050 to $1,150”	—	—	—	—	—	—	—
Fiber solutions site rental billings growth contribution	New“2%”	—	—	—	—	—	—	—
Increase in full year 2024 expenses attributable to advisory fees	New“approximately $30 million”	—	—	—	—	—	—	—
Interest expense and amortization of deferred financing costs, net	New“$926 to $971”	—	—	—	—	—	—	—
Interest expense on debt obligations	New“$915 to $955”	—	—	—	—	—	—	—
Organic Contribution to Site Rental Billings as a percentage of prior year site rental billings (Fiber Solutions)	New“(4)”	—	—	—	—	—	—	—
Organic Contribution to Site Rental Billings as a percentage of prior year site rental billings (Small Cells)	New“(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 (Fiber Solutions)	New“2%”	—	—	—	—	—	—	—
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 (Small Cells)	New“15%”	—	—	—	—	—	—	—
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 (Towers)	New“4.5%”	—	—	—	—	—	—	—
Prepaid rent additions	New“approximately $355 million”	—	—	—	—	—	—	—
Prepaid rent additions from Fiber	New“$275 million”	—	—	—	—	—	—	—
Prepaid rent additions from Towers	New“$80 million”	—	—	—	—	—	—	—
Site rental billings	New“$5,740 to $5,780”	—	—	—	—	—	—	—
Site rental costs of operations	New“$1,686 to $1,731”	—	—	—	—	—	—	—
Small cell core leasing activity	New“$70 million”	—	—	—	—	—	—	—
Small cells site rental billings growth contribution	New“15%”	—	—	—	—	—	—	—
Towers Segment discretionary capital expenditures	New“$180 to $180”	—	—	—	—	—	—	—
Towers site rental billings growth contribution	New“4.5%”	—	—	—	—	—	—	—
No period stated
Amortization of deferred financing costs and adjustments on long-term debt	—	New“$20 to $30”	—	—	—	—	—	—
Annualized dividend	—	New“an amount approximating 75% to 80% of AFFO excluding amortization of prepaid rent”	—	—	—	—	—	—
Annualized dividend (post-Transaction target)	—	New“approximating 75% to 80% of AFFO excluding amortization of prepaid rent”	—	—	—	—	—	—
Annualized operating cost savings	—	—	—	—	—	New“approximately $65 million”	—	—
Annualized run-rate operating cost reduction	—	—	—	—	—	—	New“$65 million”	—
Common stock dividend (annualized basis)	—	—	—	—	—	New“$4.25 per share”	—	—
Debt repayment	—	—	—	—	—	New“approximately $7 billion of debt”	Reiterated“approximately $7 billion of debt”	—
Debt repayment (following Fiber Business sale close)	—	—	—	—	—	New“approximately $7 billion”	—	—
Dividend	—	—	—	—	—	New“$4.25 per share on an annualized basis”	—	—
Expected Transaction closing	—	New“first half of 2026”	—	—	—	—	—	—
Fiber Business sale transaction value	—	—	—	—	New“$8.5 billion in aggregate”	—	—	—
Reduction in tower and corporate workforce	—	—	—	—	—	New“approximately 20%”	—	—
Share repurchase	—	—	—	—	—	New“approximately $1 billion of shares”	Reiterated“approximately $1 billion of shares”	—
Share repurchase program	—	New“approximately $3.0 billion”	—	—	—	—	—	—
Share repurchases (following Fiber Business sale close)	—	—	—	—	—	New“approximately $1 billion”	—	—
Target dividend payout ratio	—	—	New“approximately 75-80% of AFFO excluding amortization of prepaid rent”	—	—	—	—	—
Target leverage	—	New“6.0-6.5x”	—	—	—	—	—	—
Target leverage	—	New“6.0-6.5x”	—	—	—	—	—	—
Timing of Fiber Business sale close	—	—	—	—	—	—	New“the first half of 2026”	—

Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.