Crown Castle Inc
CCI - Insider Information
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+ FollowMarket Cap$38.76B
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Earnings Call Q3 2026
October 21, 2026 - AI Summary
Q3 performance & organic leasing growth (core demand steady despite churn headwinds)
- Organic growth (excluding Sprint cancellations and DISH terminations): +3.5% (about $35M) in Q3.
- If you also exclude DISH prior-year site rental billings, organic growth rises to +3.8%.
- Headwinds hitting site rental revenues in Q3 included $5M Sprint cancellations, $61M DISH terminations, and $17M decrease from non-cash straight-line revenue / prepaid rent amortization changes.
- Q3 services margin: $15M, expected to increase in Q4 (implying normalizing cadence).
2026 guidance raised (outlook improves; key drivers are straight-line revenue + operating efficiencies)
- Company increased full-year 2026 outlook by:
- +$20M site rental revenues
- +$25M Adjusted EBITDA
- +$5M AFFO
- Main reasons cited:
- +$20M from straight-line revenues related to contractual term extensions (from a newly completed customer agreement).
- -$5M lower site rental cost of operations due to continued efficiency initiatives.
- They also emphasized run-rate cost savings of $65M annually from actions taken earlier in 2026.
Customer/contract news: new residual interest purchase supports AFFO and site economics
- In Q3, Crown Castle paid $275M to acquire a residual economic interest in a subset of towers.
- Expected impacts:
- +~$4M site rental billings in Q4 (~$16M annualized)
- -$2M amortization of prepaid rent in Q4 (~-$8M annualized)
- ~$4M accretive to AFFO annualized (excluding prepaid rent amortization)
- Additional +$20M of straight-line revenues in Q4
- Management said 2026 guidance ranges for site rental billings, prepaid amortization, and interest expense are unchanged because the effects are included in the existing ranges.
- Also highlighted a long-standing customer issue resolved (supports churn-risk reduction and future growth).
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$-3.51
103.8% downside
Current Fair Value
103.8% downsideOvervalued by 103.8% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $38.76 Billion |
|---|---|
| Enterprise Value | $61.68 Billion |
| Annual dividend | $4.25 |
| Dividend yield | 4.79% |
| Earnings per Share | $1.02 |
| Beta | 0.96 |
| Outstanding Shares | 426,000,000 |
Return
| Return on Equity | -30.23% |
|---|---|
| Return on Assets | 5.02% |
| Return on Invested Capital | 11.19% |
Valuation & Multiples
| P/E Ratio | 36.95 |
|---|---|
| PEG | -298.4 |
| Price to Sales | 10.24 |
| Price to Book Ratio | -10.24 |
| Enterprise Value to Revenue | 15.1 |
| Enterprise Value to EBIT | 31.31 |
| Enterprise Value to Net Income | 59 |
| Total Debt to Enterprise | 0.37 |
| Debt to Equity | -6.73 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 28, 2026
EPS Estimate
$0.68
Consensus analyst estimateRevenue Estimate
$1.02 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 3, 2027
EPS Estimate
$0.72
Consensus analyst estimateRevenue Estimate
$1.02 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 58.94% |
|---|---|
| Total Calls | 115,000▼ 91.37% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.90%▼ 96.26% |
|---|---|
| Total Invested | $838.29M▼ 97.42% |
| Investors Holding | 297▼ 676.00% |
About Crown Castle International Corp
1,500 employees
CEO: Jay Brown
Crown Castle maintains a substantial portfolio of communications infrastructure throughout major U.S. markets. This includes the ownership, operation, and leasing of over 40,000 cellular towers and approximately 80,000 miles of fiber opt...