Companies /Real Estate

Crown Castle Inc

NYSE: CCI Reit - Specialty
$75.82
▼ $1.44 (−1.86%) today
Markets closed · 6:14pm ET

Q1 2026 Earnings

Reported Apr 22, 2026, 4:16pm ET · SEC source
$1.02
Beat +116.61%
EPS · est. $0.47
$1.0B
Beat +1.53%
Revenue · est. $994.8M
−2.4%
Trailing market
CCI vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0+2%Apr 22Apr 23report 4:16pm ETearnings−0.3%+0.2%
−2%0+2%Apr 22Apr 23earnings−0.3%+0.2%
CCI +0.2%S&P 500 −0.3%
−2%0+2%Apr 22Apr 23report 4:16pm ETearnings−0.4%+0.2%
−2%0+2%Apr 22Apr 23earnings−0.4%+0.2%
CCI +0.2%NASDAQ −0.4%
−4%−2%0+2%Apr 21Apr 30report 4:16pm ETearnings+1.2%+2.6%
−4%−2%0+2%Apr 21Apr 30earnings+1.2%+2.6%
CCI +2.6%S&P 500 +1.2%
−4%−2%0+2%Apr 21Apr 30report 4:16pm ETearnings+1.9%+2.6%
−4%−2%0+2%Apr 21Apr 30earnings+1.9%+2.6%
CCI +2.6%NASDAQ +1.9%
+1.76%
Day of report
−1.35%
Next session
+1.44%
One week
+3.56%
30 days

S&P 500 over the same 30 days: +5.95%.

Did CCI Beat Earnings? Q1 2026 Results

Crown Castle delivered a strong earnings beat in Q1 2026, posting adjusted diluted EPS of $1.02 against a consensus estimate of $0.47, a 116.61% beat, as the tower company navigated a deliberate strategic reset. Revenue came in at $1.01 billion, edging past the $994.83 million consensus by 1.53%, though total net revenues slipped 4.8% year-over-year, weighed down by DISH Wireless lease terminations and ongoing Sprint network consolidation cancellations that collectively shaved $54.00 million from organic site rental billings. Excluding those headwinds, organic growth held at a healthy 3.3%. The quarter also marked meaningful progress on Crown Castle's transformation into a pure-play U.S. tower company, with the $8.50 billion Fiber Business sale to EQT and Zayo having since closed, clearing the path for roughly $1.00 billion in share repurchases and more than $7.00 billion in debt reduction. Management reaffirmed its full-year 2026 outlook, guiding for AFFO of $4.38 to $4.49 per share and site rental revenues of $3.83 billion to $3.87 billion.

Key Takeaways
  • Organic site rental billing growth of 3.3% (excluding DISH and Sprint impacts)
  • Escalators contributed $25M in Q1 2026
  • Core leasing activity of $15M in Q1 2026
  • Operating cost reductions from workforce restructuring ($14M restructuring charges in Q1)
  • Increased land ownership purchases under towers ($32M vs $18M in Q1 2025)

“We delivered a solid first quarter and remain on track to achieve our full-year 2026 guidance. We have largely completed the separation of our Fiber and Small Cell businesses and expect the sale to close in the first half of 2026. As we transition to a pure-play tower company, we are focused on execution by driving operating efficiency, modernizing our systems, and increasing land ownership under our towers. With a clear standalone tower strategy, a disciplined capital allocation framework, and an investment-grade balance sheet, we are well positioned to deliver attractive and sustainable shareholder returns.”

Crown Castle CEO, on the earnings call

Forward Guidance & Outlook

Crown Castle maintained its full year 2026 outlook unchanged from the February 4, 2026 guidance. Key ranges include: site rental revenues of $3,828M to $3,873M; net income of $640M to $920M ($1.48 to $2.12 per diluted share); Adjusted EBITDA of $2,665M to $2,715M; AFFO of $1,895M to $1,945M ($4.38 to $4.49 per share); and discretionary capital expenditures of $150M to $250M. The outlook excludes DISH Wireless contributions due to the January 2026 contract termination. It assumes the Fiber Business sale closes June 30, 2026, after which the company expects to repurchase approximately $1 billion of shares and repay approximately $7 billion of debt. DISH Terminations and Sprint Cancellations are expected to total $240M in headwinds for full year 2026. Operating cost savings of $55M are expected in 2026, with $65M on an annualized run-rate basis.

CCI YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$300.0M$600.0M$900.0M$1.1B$1.0BRevenue$521.0M$465.0MOperating Income$64.9M$151.0MNet Income
$0$300.0M$600.0M$900.0MRevenueOperating IncomeNet Income

CCI Revenue by Segment

Site Rental$961.0M−9.4%
Services and Other$49.0M

CCI Revenue by Geography

United States

Figures from SEC filings and company reports. Not investment advice.